Current Use by Public Records
- Lifestyle centers
Property Details for 549 Heath Tx 75032
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 13,927-square-foot retail shopping center in Heath, Texas, a rapidly growing affluent Dallas suburb. Located at Laurence Rd & FM 549, Heath, TX 75032, this newly renovated (2023) property boasts a 6.50% cap rate and a strong net operating income (NOI) of $539,500. Currently 100% occupied, the center offers investors stable cash flow with a weighted average lease term (WALT) of 9.1 years. The property benefits from a shadow anchor, a top-performing Tom Thumb grocery store, representing the #1 location within a district of 24 stores, and enjoys a 16-year remaining lease term. The surrounding trade area is affluent and experiencing significant population growth (50% since 2010), with an average household income of $193,767. This property presents a rare opportunity to acquire a newly constructed, high-performing retail asset in the thriving Dallas-Fort Worth metroplex. The asking price is $8,320,000, translating to a price per square foot of $597.40. Both Phase I and Phase II of the Heath Town Center are fully leased, ensuring consistent rental income. This is a turnkey investment ideal for those seeking strong returns in a stable and growing market.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockwall
- County
- Collin
- State
- Texas
- Longitude
- -96.4483
- Latitude
- 32.8586
