1501 W Princeton Dr Princeton, TX 75407

This is a Class A retail strip constructed in 2023, featuring a drive-thru end cap. The property is 100% occupied with long-term NNN leases and a complementary mix of national and local tenants. The current rent is below market at $30 per square foot, which is 25–30% below market rates. New product fronting Highway 380 in Princeton is leasing at $40-$45 per square foot. There is upside potential via rental growth, with over 51% of the gross leasable area (GLA) containing fair market value (FMV) options and 100% of the GLA containing built-in escalations in the primary term. The property has prime visibility along the US 380 corridor, with over 40,000 vehicles passing by daily. Located in the fastest-growing city in the U.S., the property benefits from strong demographics, including an average household income (AHHI) of over $99,000 within a 1-mile radius, which is well above the national average. It is adjacent to the Village of Princeton and Princeton Town Center, a 500,000 square foot retail development that will be the future home of Market Street, Lowe’s Home Improvement, Hobby Lobby, TJ Maxx, PetSmart, and several other national anchors. The property size is 11266 square feet.