410 Coit Rd Richardson, TX 75080
- Lifestyle centers
- 59,355 SF
- 4.23 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 410 Coit Rd
- Year built
- 1973
- Lot size
- 4.23 lot acres
- Property size
- 59,355 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional value-add opportunity presents Promenade North Plaza, a 59,355-square-foot multi-tenant retail center situated on 4.228 acres in the thriving city of Richardson, Texas. Built between 1973 and 1979, this six-building complex boasts a strong 86.91% occupancy rate, generating a substantial net operating income (NOI) of $638,807 and a compelling 6.62% cap rate. The asking price is $9,650,000. Located at 410 N Coit Rd, 75080, the property benefits from its strategic position in a prime commercial corridor, surrounded by office buildings, retail centers, and dense residential neighborhoods. Its convenient access to Interstate 75, President George Bush Turnpike, and Interstate 635 ensures high visibility and accessibility. Just 10 miles north of Downtown Dallas, the property enjoys proximity to the city's core business district. The area's robust demographics are highlighted by a daytime population exceeding 601,301 within a 5-mile radius, with projected household incomes surpassing $151,000 by 2028. The property's tenant mix is diverse, providing a hedge against market fluctuations. With approximately 255 parking spaces and zoned LR-M(1) - Local Retail District, Promenade North Plaza offers significant potential for value enhancement through the conversion of a major tenant's reimbursement structure. Coit Road boasts an impressive traffic count of approximately 40,000 vehicles per day. This property represents a stable investment opportunity in a high-growth area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richardson
- County
- Dallas
- State
- Texas
- Longitude
- -96.7685
- Latitude
- 32.9575
