2960 Farm To Market Rd Oak Point, TX 75068

Property Details for 2960 Farm To Market Rd

Year built

2023

Lot size

1.69 lot acres

Property size

10,877 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 10,877-square-foot shopping center in Oak Point, Texas, presents a compelling investment opportunity. Boasting a prime location on FM 720 near the intersection of Shahan Prairie Road/McCormick Road, this 2023-built property enjoys high visibility and exceptional traffic counts exceeding 34,270 vehicles daily. The center is 100% occupied by five tenants under triple-net (NNN) leases with 10+ year terms and built-in rent increases, ensuring consistent cash flow. A Starbucks anchors the center, featuring a drive-thru and covered patio. The property sits on a 1.69-acre lot and includes a new TPO roof with a transferable 10-year warranty. The attractive architecture and strong tenant mix, including service-oriented businesses, contribute to its appeal. The surrounding area is experiencing significant residential growth, with several large-scale developments underway, further enhancing the property's long-term value. The affluent demographics, with average household incomes exceeding $116,168 within a one-mile radius, underscore the investment potential. This property offers a stable, high-performing investment in a rapidly expanding market, generating a NOI of $375,286 and a 5.53% cap rate. The asking price is $6,787,338. The property's proximity to major roadways, including the Dallas North Tollway and I-35E, provides easy access for both tenants and customers. Nearby amenities include 7-Eleven, CVS Pharmacy, McDonald's, and more, creating a vibrant retail environment. The location near Prestonwood Polo & Country Club further enhances its desirability.

Location Insight

City

Oak Point

County

Denton

State

Texas

Longitude

-96.9779

Latitude

33.1851