8053 Grapevine Hwy, North Richland Hills, TX 76180
- Retail properties & Spaces
- 15,785 SF
- 1.43 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 8053 Grapevine Hwy
- Year built
- 1984
- Lot size
- 1.43 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
Central Plaza, a 15,785-square-foot retail center in North Richland Hills, Texas, presents a compelling investment opportunity. This single-story, 1984-built property boasts 100% occupancy across nine tenants in eleven units, generating a strong NOI of $201,496.52 and a 7.50% cap rate. Located at 8053 Grapevine Hwy, the property features 194 feet of frontage on a major thoroughfare, just south of a signalized intersection. The 1.43-acre lot includes 67 parking spaces. Currently operating under a gross lease structure, this property offers significant value-add potential through rent increases and lease conversions to triple-net leases. The average rent is $13 per square foot. The F-1 zoning allows for flexibility. The property's prime location benefits from a dense trade area with 264,188 people within a five-mile radius, and proximity to new residential developments and the upcoming Peppa Pig Theme Park. The small suite sizes ensure high leasability. This property is ideal for investors seeking a strong return and redevelopment potential within the city's Business Improvement and Growth (BIG) Program. The asking price is $2,686,620, translating to $158.37 per square foot.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Richland Hills
- County
- Tarrant
- State
- Texas
- Longitude
- -97.2087
- Latitude
- 32.8382
