801 International Pkwy Flower Mound, TX 75022

Property Details for 801 International Pkwy

Year built

2021

Lot size

1.75 lot acres

Property size

15,952 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Lakeside Crossing, a 15,952-square-foot shopping center in Flower Mound, Texas, presents a compelling investment opportunity. Built in 2021, this single-building property sits on a 1.75-acre lot at 801 International Pkwy, 75022, boasting 100% occupancy. The asking price is $7,498,000, representing a 6.25% capitalization rate and a price per square foot of $470.04. The property benefits from a strong tenant lineup including Smoothie King (with a drive-thru), Texas Health Resources Family Care, The UPS Store, Capriotti's, Honeybird, and Arcade 92. These tenants, a mix of retail and medical users, contribute to a stable income stream with an average base lease expiration in August 2031. Leases include annual rent escalations and multiple renewal options. Current rents average $29.38 per square foot, NNN, which is below market for comparable new construction. The property enjoys a prime location, adjacent to the 160-acre Shops at Lakeside mixed-use development, and benefits from high traffic counts exceeding 56,260 vehicles per day on FM 2499/Long Prairie Rd/International Pkwy. The surrounding area boasts high average household incomes exceeding $191,200 within a one-mile radius, $166,200 within three miles, and $150,700 within five miles. This location is approximately 30 minutes north of Downtown Dallas and less than 10 minutes from DFW International Airport. The Lakeside business district, with over 45 businesses and 8,958,000+ square feet of industrial space, is also nearby. A new phase of the Shops at Lakeside development is planned, adding 2,200 residences and 705,000 square feet of commercial space.

Location Insight

City

Flower Mound

County

Denton

State

Texas

Longitude

-97.0633

Latitude

32.9913