1151 Parker Rd Plano, TX 75023
- Lifestyle centers
- 13,436 SF
- 1.06 lot acres
Current Use by Public Records
- TXRE Properties / Property Management Company
- SOS WaterHeating Plano TX / Contractor
- Dallas Metroplex Medical Services / Medical Clinic
- Texas Vape Company / Smoke Shop
- Flowerama of Plano / Florist / Gift Shop
Property Details for 1151 Parker Rd
- Year built
- 1979
- Lot size
- 1.06 lot acres
- Property size
- 13,436 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 13,436-square-foot, Class B retail shopping center in Plano, Texas. Located at 1151 W Parker Rd, 75023, this single-story, 1979-built property sits on a 1.06-acre lot and boasts 100% occupancy across four tenant spaces. The property features a Net Lease (NNN) structure with staggered leases, providing a 4.0-year weighted average lease term (WALT) as of July 2024, and includes rent bumps. Minimal landlord responsibilities are required due to the NNN lease agreements. Situated in a high-income area, the property benefits from a strong demographic profile, with an average one-mile income exceeding $119,121 and a five-mile population of over 332,841, reflecting a 19.3% population growth since 2010. The convenient location offers easy access to I-75 via West Parker Road, placing it approximately 30 minutes from downtown Dallas and near DFW International Airport. The property is adjacent to a Starbucks, further enhancing its appeal and visibility. This well-maintained asset is offered substantially below replacement cost, making it an attractive investment opportunity. The Collin County property's APN is R207074.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Plano
- County
- Collin
- State
- Texas
- Longitude
- -96.7169
- Latitude
- 33.0416
