North Park Shopping Center
Retail | 7.52% CAP | 60,847 SqFt
Marketing description
North Park Shopping Center presents a compelling value-add investment opportunity in Borger, Texas. Situated on W Wilson Street, the property benefits from its location on the primary retail corridor in Borger, adjacent to Walmart Supercenter, United Supermarkets, Starbucks, and many more national tenants.
The 60,847 SF shopping center on 5.86 acres is anchored by a strong mix of national and regional tenants including Dollar Tree, T-Mobile, Verizon, Anytime Fitness, and Rent-A-Center. The necessity-based, internet-resistant tenant mix features health, dental, finance, wireless, and fitness uses that demonstrate consistent demand.
With 43% vacancy across 4 suites, the property offers immediate lease-up potential to drive NOI growth. Eight tenants have exercised renewal options within the last three years, demonstrating strong tenant commitment and long-term confidence in the property. The strong local economy with low unemployment reflects a stable, working market with consistent retail demand driven by a manufacturing and energy-sector employment base.
Investment highlights
- $67 PSF - Priced Well Below Replacement Cost — A Compelling Entry Basis For a 60,847 SF Shopping Center on 5.86 Acres
- Significant Value-Add Upside - 43% Vacancy Across 4 Suites Offers Immediate Lease-Up Potential to Drive NOI
- Eight Tenants Have Exercised Renewal Options Within the Last Three Years - Demonstrating Strong Tenant Commitment and Long-Term Confidence in the Property
- Located on W Wilson St - Primary Retail Corridor in Borger, TX
- National & Regional Tenant Mix - Dollar Tree, Anytime Fitness, Rent A Center, and T-Mobile Anchor the Rent Roll
- Necessity-Based Internet-Resistant Tenant Mix - Health, Dental, Finance, Wireless, and Fitness Uses
- Billboard and Kiosk Income Provide Additional Revenue Diversity
- Strong Local Economy with Low Unemployment - Borger's 3.6% Unemployment Rate Reflects a Stable, Working Market with Consistent Retail Demand Driven by a Manufacturing and Energy-Sector Employment Base
- Surrounded by National Tenants - Adjacent to Walmart Supercenter, United Supermarkets, Starbucks, and Many More Along Borger's Primary Retail Corridor on W Wilson St
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