12255 Teel Pkwy Frisco, TX 75033-2061

Property Details for 12255 Teel Pkwy

Year built

2016

Lot size

3.03 lot acres

Property size

6,216 SF

Property type

Commercial real estate

APN

R675515

APU

R675515

Description

West Towne Center, a 37,772 square foot retail property in Frisco, Texas, presents a compelling investment opportunity. This multi-tenant shopping center, built in 2016, boasts a 6.00% cap rate and a strong net operating income (NOI) of $1,303,562. Located on a 5.27-acre lot at the signalized intersection of Eldorado Parkway and Teel Parkway, the center enjoys high visibility and accessibility. The property is shadow-anchored by Sprouts Farmers Market and is currently 100% occupied by a diverse mix of tenants including Pet Supplies Plus, Club Pilates, Emler Swim School, Grand Lux Nail Salon, Office Hub, Frisco Vet Care, and Avive Life. The average rent is $34.11 per square foot, triple net (NNN), with comparable retail space in the area leasing for significantly more. The center benefits from its location in a high-growth, affluent area of Frisco, with average household incomes exceeding $234,600 within a one-mile radius. The property's proximity to major developments like The Star, the Dallas Cowboys headquarters, and the PGA headquarters further enhances its value. The average base lease term expiration is January 2029. This exceptional property offers a rare opportunity to acquire a high-performing retail center in one of the nation's fastest-growing and most desirable markets. The asking price is $21,726,000.

Location Insight

City

Frisco

County

Denton

State

Texas

Longitude

-96.8666

Latitude

33.1797

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments