Multi-Tenant Retail
For Sale
Contact for pricing
3701 S Cooper St, Arlington, TX 76015
Retail center with triple-net leases, complementary tenants, concrete parking, and multiple ingress and egress points.
Property Size89,494 SF
Lot Size5.62 Acres
Price / SF$285.65
Days on Market216
Property Features for 3701 S Cooper St
General Information
Standard status
Active
Size
89,494 SF
Lot size
5.62 Acres
Property subtype
Retail
Occupancy
89%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$1,853,362
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Year Built
1986
Buildings
2
Units
36
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5225
Listed By:
Philip Levy · License #TX 522087
Source:
Crexi
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 8:18AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Arlington Park Square is an 89,494-square-foot multi-tenant shopping center built in 1986 on two parcels totaling 5.62 acres. The property includes concrete parking and a tenant mix featuring restaurants, salons, grocery delivery, medical services, event space, and specialty retail. Current leases are structured on triple-net terms, with many providing annual rent increases.
The center occupies the signalized intersection of South Cooper Street and West Arbrook Boulevard in Arlington, Texas. Traffic counts are reported at 86,648 vehicles per day on South Cooper Street, 21,093 vehicles per day on West Arbrook Boulevard, and 192,180 vehicles per day on nearby Interstate 20. Multiple ingress and egress points serve the property. Fitness Connection provides a shadow-anchor presence, while The Parks Mall at Arlington is also identified as a shadow anchor. Adjacent pad sites, which are not included, feature several restaurant and service operators.
The center occupies the signalized intersection of South Cooper Street and West Arbrook Boulevard in Arlington, Texas. Traffic counts are reported at 86,648 vehicles per day on South Cooper Street, 21,093 vehicles per day on West Arbrook Boulevard, and 192,180 vehicles per day on nearby Interstate 20. Multiple ingress and egress points serve the property. Fitness Connection provides a shadow-anchor presence, while The Parks Mall at Arlington is also identified as a shadow anchor. Adjacent pad sites, which are not included, feature several restaurant and service operators.
Key Highlights
- 89,494‑square‑foot multi‑tenant shopping center on 5.62 acres
- Built in 1986 across two parcels with concrete parking
- Current leases carry triple‑net terms; many include annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,232,238
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$24,644,760
$24.6M
Cap Rate 7%
$17,603,400
$17.6M
Cap Rate 9%
$13,691,533
$13.7M
Market Conditions
NOI Build-Up for 89,494 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.85M $20.64/SF
− Vacancy
−$86.8K −$0.97/SF
EGI
$1.76M $19.67/SF
− OpEx
−$528.1K −$5.90/SF
NOI
$1.23M $13.77/SF
Area
Arlington, TX
Vacancy
4.70%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$24,644,760
Cap Rate 7%
$17,603,400
Cap Rate 9%
$13,691,533
Alternative Uses
Best Use
Retail
$17.60M
$15.40M – $20.54M
NOI $1,232,238 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$26.39M
$23.09M – $30.79M
NOI $1,847,156 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
714k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 28%
Dining 26%
Superstores 22%
Shops & Services 17%
Target
Superstores
156,821 visits/mo
0.4 miles
Macy's
Apparel
93,263 visits/mo
0.2 miles
Academy Sports + Outdoors
Apparel
78,700 visits/mo
0.3 miles
Raising Cane's Chicken Fingers
Dining
43,879 visits/mo
0.1 miles
RaceTrac
Shops & Services
26,862 visits/mo
0.5 miles
Demographics for 76015, TX
17,185
Population
7,027
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
3,997
Density / Sq Mi
$70,912
Median Household Income
$37,835
Median Earnings
$1,608
Median Rent
$236,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with triple-net leases, complementary tenants, concrete parking, and multiple ingress and egress points.
Where is this shopping center located?
The property is located at 3701 S Cooper St Arlington, TX.
What is the asking price?
The asking price for this property is $25,563,600.
What are key features of this property?
This property features: 89,494‑square‑foot multi‑tenant shopping center on 5.62 acres; Built in 1986 across two parcels with concrete parking; Current leases carry triple‑net terms; many include annual rent increases
