4901 Tx-114 Northlake, TX 76262

Property Details for 4901 Tx-114

Year built

2019

Lot size

2.29 lot acres

Property size

17,530 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Chadwick Commons Retail Center presents a unique investment opportunity in the thriving Northlake, Texas market, a high-growth, affluent submarket within the Dallas-Fort Worth area. This 17,530 square foot, single-story retail center, built in 2019, sits on a 2.29-acre lot and boasts 100% occupancy. Strategically located at 4901 TX-114, it enjoys excellent visibility and accessibility, positioned just off Interstate 35W and Highway 114, offering convenient access to a large and growing population. The center features a diverse mix of restaurant, medical, and service tenants, all under lease agreements with built-in rent escalations, averaging $30.31 per square foot, NNN, with an average lease term expiration in September 2029. The property's design includes desirable features such as a drive-thru, outdoor patio, average suite size of 2,504 square feet, shallow bay depth, masonry construction, multiple ingress/egress points, and a prominent two-sided monument sign. Its location across from Texas Motor Speedway and near major retailers like Buc-ee's and Chick-fil-A, further enhances its appeal. The planned construction of a $45 million Dallas Stars athletic facility nearby is expected to draw over 1,300,000 visitors annually, significantly boosting foot traffic and overall market value. The property's asking price is $8,366,000, representing a price per square foot of $477.24. The surrounding area demonstrates exceptional growth, with a 2,227% population increase within a one-mile radius from 2000 to 2023, and average household incomes exceeding $122,900, $140,800, and $150,600 within 1, 3, and 5-mile radii respectively. This property offers a compelling combination of strong tenant occupancy, favorable lease terms, and a prime location in a rapidly expanding market.

Location Insight

City

Northlake

County

Denton

State

Texas

Longitude

-97.267

Latitude

33.0255