3500 Victory Group Way Frisco, TX 75034

Property Details for 3500 Victory Group Way

Year built

2016

Lot size

0.71 lot acres

Property size

6,200 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 6,200 square foot, single-story, three-tenant retail center in the thriving Frisco, Texas market. Located at 3500 Victory Group Way, Frisco, TX 75034, this 100% occupied property boasts a strong tenant mix including a corporate Medi-Weightloss location, a drive-thru dry cleaner using environmentally safe cleaning agents, and a collectibles store. All three tenants are original to the building and recently signed lease renewals with average expiration in December 2029, featuring annual rent escalations and renewal options. The property offers an average rent of $39.25 per square foot, NNN, significantly below comparable new construction rates exceeding $45.00 PSF NNN. Built in 2016 on a 0.71-acre lot, the center benefits from a new roof installed in 2023 with a 20-year transferable warranty. This prime location is within a densely populated area, surrounded by over 5,500,000 square feet of retail and 16,400,000 square feet of office space within a two-mile radius, and close to major retailers like Kroger, Market Street, and more. The property's strong tenant base, long-term leases, and desirable location make it an attractive investment with a 6.50% cap rate and an asking price of $3,743,000 ($603.71/SF). The surrounding area boasts high average household incomes exceeding $191,400 within a one-mile radius, $147,100 within three miles, and $160,100 within five miles, reflecting a robust and affluent demographic. The property is also conveniently located near major developments like The Star and Frisco Station.

Location Insight

City

Frisco

County

Denton

State

Texas

Longitude

-96.8419

Latitude

33.1076