Fully Occupied Multi-Tenant Retail
For Sale
Contact for pricing
Pending
4401 W WALNUT ST, Garland, TX 75042
Fee simple shopping center fully occupied by net-leased restaurant, entertainment, and service tenants.
Property Size42,232 SF
Lot Size5.76 Acres
Days on Market98
Property Features for 4401 W WALNUT ST
General Information
Standard status
Pending
Size
42,232 SF
Lot size
5.76 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1960
Year Renovated
1965
Buildings
4
Stories
1
Tenancy
Multi
Listing Agency:
Northmarq Capital, LLC
Listed By:
Chad Byerly · License #OK 155856
(918) 794-9516
Source:
Crexi
Added: Jun 3
Changed: Aug 16
Last Checked: Aug 14 at 7:27AM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
Walnut Park Shopping Center is a +/- 42,232 SF multi-tenant retail center offered for sale as a 100% fee simple interest. The property sits on a 5.76-acre lot and is fully occupied by a mix of local restaurant, entertainment, and service tenants. All tenants are under net lease agreements, and the majority feature annual rent increases.
Located at 4401 W Walnut St in Garland, TX, the center benefits from its position within the Dallas–Fort Worth Metroplex. Garland is described as a well-established suburb approximately 15 miles northeast of Downtown Dallas. The provided information also notes a population of over 250,000 residents within the city.
For buyers seeking a stabilized retail asset, Walnut Park Shopping Center offers a fully occupied tenant roster with net lease structures in place. The mix of restaurant, entertainment, and service uses may provide day-to-day tenant adjacency within the center and a diversified operating profile across multiple local businesses.
Located at 4401 W Walnut St in Garland, TX, the center benefits from its position within the Dallas–Fort Worth Metroplex. Garland is described as a well-established suburb approximately 15 miles northeast of Downtown Dallas. The provided information also notes a population of over 250,000 residents within the city.
For buyers seeking a stabilized retail asset, Walnut Park Shopping Center offers a fully occupied tenant roster with net lease structures in place. The mix of restaurant, entertainment, and service uses may provide day-to-day tenant adjacency within the center and a diversified operating profile across multiple local businesses.
Key Highlights
- ±42,232 SF multi‑tenant retail center on a 5.76‑acre lot in Garland, TX
- 100% fee simple interest offered
- Fully occupied by a mix of restaurant, entertainment, and service tenants
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
$679,532
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
9.05%
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%
$13,590,640
$13.6M
Cap Rate 7%
$9,707,600
$9.7M
Cap Rate 9%
$7,550,356
$7.6M
Market Conditions
NOI Build-Up for 42,232 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
$1.02M $24.12/SF
− Vacancy
−$47.9K −$1.13/SF
EGI
$970.8K $22.99/SF
− OpEx
−$291.2K −$6.90/SF
NOI
$679.5K $16.09/SF
Area
Garland, TX
Vacancy
4.70%
Lease Rate
$24.12 /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%
$13,590,640
Cap Rate 7%
$9,707,600
Cap Rate 9%
$7,550,356
Alternative Uses
Best Use
Retail
$9.71M
$8.49M – $11.33M
NOI $679,532 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$50.67M
$44.34M – $59.12M
NOI $3,547,245 @ 7.0% cap · market cap 47.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
89k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 42%
Electronics 1%
Murphy USA
Shops & Services
19,032 visits/mo
0.4 miles
Whataburger
Dining
15,522 visits/mo
0.5 miles
Taco Cabana
Dining
8,721 visits/mo
0.5 miles
Burger King
Dining
7,949 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
7,307 visits/mo
0.0 miles
Demographics for 75042, TX
39,148
Population
11,791
Households
3.3
Avg Household Size
33
Median Age
16%
College-Educated
69%
High-School Grad
7.6 sq mi
ZIP Area
5,151
Density / Sq Mi
$63,531
Median Household Income
$32,476
Median Earnings
$1,336
Median Rent
$221,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fee simple shopping center fully occupied by net-leased restaurant, entertainment, and service tenants.
Where is this shopping center located?
The property is located at 4401 W WALNUT ST Garland, TX.
What is the asking price?
The asking price for this property is $7,505,000.
What are key features of this property?
This property features: ±42,232 SF multi‑tenant retail center on a 5.76‑acre lot in Garland, TX; 100% fee simple interest offered; Fully occupied by a mix of restaurant, entertainment, and service tenants
