United Supermarkets Anchored Shopping Center
United Supermarkets Center | Priced at $35.74 PSF to the Building | $3,160,000 | Littlefield, TX
Marketing description
United Supermarkets Anchored Retail Center is an 88,418 SF grocery anchored asset situated on approximately 8.57 acres in Littlefield, Texas. The property is located on Highway 84 and is approximately 30 minutes northwest of Lubbock, Texas. United Supermarkets Anchored Retail Center is 75.21% leased to a complimentary mix of grocery, retail and service tenants including United Supermarkets, Dollar Tree, O’Reilly Auto Parts, Gebo’s and Energy Fitness. United Supermarkets is the longest tenured tenant at the Property (over 47 years since December 1977). Immediate upside potential exists by leasing up two (2) existing vacancies and converting existing gross leases to NNN. The Property benefits from excellent visibility with parallel frontage to Highway 84, multiple ingress/egress points, and a large highly visible two-sided pylon sign. Offered at an attractive 8.15% cap rate, with potential for an 12.01% pro forma cap rate at list price, by leasing existing vacancies, the Property is priced significantly
Investment highlights
▪8.15% Cap Rate at 75.21% Leased Grocery Anchored Shopping Center
of 88,418 SF
▪ Situated on 8.57 Acres 30 Minutes from Lubbock, Texas
▪ Priced Significantly Below Replacement Costs at $35.74 PSF
▪ United Supermarkets Recently Exercised 5-Year Renewal Option
& Has Anchored Property since December 1977 (40+ Years)
▪ 12.00% Pro Forma Cap Rate at List Price
▪ Immediate Upside Potential Exists in Leasing Two (2) Existing Vacancies
▪ United Supermarkets is Arguably the Most Well Known Grocer in West Texas with 99 Locations Total Under Four Brands
▪ Benefits from Exceptional Visibility with Parallel Frontage to Highway 84, Multiple Ingress/Egress Points & Large Highly Visible Two Sided Pylon Sign
▪ Close Regionally to Texas Tech University; 40,000 Students, 150+ Undergraduate Programs, 100+ Masters Programs & 50+ Doctoral Programs
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