Neighborhood Strip
2204 Kelly Blvd, Carrollton, TX 75006
For Sale
Contact for pricing
Corner retail center with strong neighborhood tenant mix, anchored by Pizza Hut and positioned for convenient access to major routes.
Property Size7,400 SF
Days on Market141
Property Features for 2204 Kelly Blvd
General Information
Standard status
Size
Property subtype
Lease Term
Building Details
Building Size
Year Built
Properties For Sale
at 2204 Kelly Blvd
Suite 103
Size
1,708 SF
Term
Negotiable
Listing Agency:
Engvest Group - eXp Commercial
Listed By:
Daniel Eng | CCIM · License TX #514529
(214) 926-3666
Source:
7s
Added: Jun 25
Changed: Nov 3
Last Checked: Nov 12 at 5:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Engvest Group - eXp Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Kelly Plaza is a neighborhood strip center offered for sale at 2204 Kelly Blvd in Carrollton, Texas. The property is built as a storefront retail environment with multiple spaces arranged within a retail strip format. A Pizza Hut serves as an anchor tenant, contributing to a diverse, neighborhood-oriented tenant mix.
The center is located on a corner lot at Keller Springs and Kelly Boulevard, providing prominent visibility from two directions. The location is described as easily accessible and situated just minutes from the George Bush Turnpike, supporting convenient day-to-day access for surrounding shoppers.
For tenants, this center offers a built retail setting within an operating neighborhood shopping environment, anchored by a national brand and supported by additional tenants. For buyers or operators, the current tenant mix and anchor tenancy present a straightforward retail investment profile, with the primary value tied to the center’s corner visibility and established neighborhood demand.
The center is located on a corner lot at Keller Springs and Kelly Boulevard, providing prominent visibility from two directions. The location is described as easily accessible and situated just minutes from the George Bush Turnpike, supporting convenient day-to-day access for surrounding shoppers.
For tenants, this center offers a built retail setting within an operating neighborhood shopping environment, anchored by a national brand and supported by additional tenants. For buyers or operators, the current tenant mix and anchor tenancy present a straightforward retail investment profile, with the primary value tied to the center’s corner visibility and established neighborhood demand.
Key Highlights
- Corner retail strip center on the corner of Keller Springs and Kelly Boulevard in Carrollton, TX
- Year built: 1983
- Minutes from the George Bush Turnpike
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,944
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,378,880
$2.4M
Cap Rate 7%
$1,699,200
$1.7M
Cap Rate 9%
$1,321,600
$1.3M
Market Conditions
NOI Build-Up for 7,400 SF
Gross rent
$178.5K $24.12/SF
− Vacancy
−$8.6K −$1.16/SF
EGI
$169.9K $22.96/SF
− OpEx
−$51.0K −$6.89/SF
NOI
$118.9K $16.07/SF
Area
Carrollton, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,378,880
Cap Rate 7%
$1,699,200
Cap Rate 9%
$1,321,600
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.98M
NOI $118,944 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.12M
NOI $127,440 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
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Business Placement
Demographics for 75006, TX
47,811
Population
19,549
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
83%
High-School Grad
17.1 sq mi
ZIP Area
2,796
Density / Sq Mi
$79,466
Median Household Income
$43,403
Median Earnings
$1,528
Median Rent
$296,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Strip malls in Dallas County, TX
Properties on Market for Strip malls in Dallas County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Corner retail center with strong neighborhood tenant mix, anchored by Pizza Hut and positioned for convenient access to major routes.
Where is this strip mall located?
The property is located at 2204 Kelly Blvd Carrollton, TX.
What are key features of this property?
This property features: Corner retail strip center on the corner of Keller Springs and Kelly Boulevard in Carrollton, TX; Year built: 1983; Minutes from the George Bush Turnpike
