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    3060 Justin Rd Highland Village, TX 75077

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    206,926 SF power center near Dallas-Fort Worth MSA.

    Type:Retail
    Property size:
    206,926 SF
    Added:
    Jan 24, 2024
    Days on Market:
    821
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 3060 Justin Rd

    General Information

    Standard status
    Active
    Size
    206,926 SF
    Property subtype
    Retail

    Spaces For Lease

    at 3060 Justin Rd Contact us

    Unit 310/305 $38 /Mo

    Size
    4,938 SF
    Type
    Retail
    Contact us

    Unit 320 $38 /Mo

    Size
    2,830 SF
    Type
    Retail
    Contact us

    330/325 $38 /Mo

    Size
    4,665 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    John Dewolfe

    Listing agent John Dewolfe License #FLBO

    Listing office Sterling Organization

    Listing date Jan 24, 2024

    Source Crexi

    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 Sterling Organization

    Overview

    Highland Village Retail Power Center

    Marketplace at Highland Village is a 206,926 square foot power center located in Highland Village, Texas, near the Dallas-Fort Worth MSA. The property is home to national tenants such as T.J. Maxx/HomeGoods, Petco, Dollar Tree and LA Fitness with Walmart as a shadow anchor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Dental Office Hotel & Motel Spa & Massage Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Highlands Ranch — 6220 Long Prairie Rd, Flower Mound, TX 75028
    • The Highlands — Waterstone Trail, Flower Mound, TX 75028
    • The Highlands of Flower Mound — 6101 Long Prairie Rd, Flower Mound, TX 75028
    • The Shops at Highland Village — 1701 Shoal Creek, Highland Village, TX 75077
    • Sunglass Hut at Macy's — 6101 Long Prairie Rd Unit 10, Flower Mound, TX 75028

    Location Insight

    • Map
    • Local Demand
    City
    Highland Village
    County
    Denton
    State
    Texas
    Longitude
    -97.0496
    Latitude
    33.0561

    Nearby Similar for Lease

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      Highland Village Church For Rent

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      Highland Village Office Space Available

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      Highland Village Office Space Available

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      Highland Village Office Leasing Opportunity

      Premier office space available in Highland Village, Texas.
      1990 Justin Rd, Highland Village, TX
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      Retail Space on Justin Road

      Retail space with high visibility on Justin Road.
      1800-1862 Justin Rd, Highland Village, TX
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      Premier Shopping Destination in Highland

      Shopping center with retail, dining, and office spaces available.
      4100 Deer Crk, Highland Village, TX
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      Highland Village Office Space Available

      Office space for lease in upscale Highland Village lifestyle center.
      1401-1701 Shoal Crk, Highland Village, TX
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      Retail Space in Highland Village

      In-line retail space available for lease in Highland Village.
      3090 FM 407, Highland Village, TX
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      Retail Space in Highland Village

      Inline retail location with high visibility and access.
      1940 FM 407, Highland Village, TX 75077
      View Details
    • Contact for pricing

      High Visibility Retail Space Available

      Retail space with drive-thru allowed, high traffic location.
      2444 Justin Rd, Highland Village, TX
      View Details

    FAQs

    What type of property is this?
    Shopping center - 206,926 SF power center near Dallas-Fort Worth MSA.
    Where is this shopping center located?
    The property is located at 3060 Justin Rd Highland Village, TX.
    What are key features of this property?
    This property features: Located in Highland Village, TX, near the Dallas‑Fort Worth MSA.; 206,926 square foot power center.; Anchored by national tenants T.J. Maxx/HomeGoods, Petco, Dollar Tree and LA Fitness.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Dewolfe
    Real Estate License ID: FLBO
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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