7301-7401 Matlock Rd Arlington, TX 76002
- Lifestyle centers
- 21,975 SF
- 3.38 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 7301-7401 Matlock Rd
- Year built
- 2006
- Lot size
- 3.38 lot acres
- Property size
- 21,975 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Matlock Plaza, a Class B shopping center in Arlington, Texas, presents a compelling investment opportunity. This stabilized, multi-tenant retail property boasts 21,975 square feet across two single-story buildings on a 3.38-acre lot at 7301-7401 Matlock Rd, zip code 76002. Built in 2006, the center features 14 units with an average size of 1,570 square feet, currently enjoying 100% occupancy under a gross lease structure with a remaining lease term averaging 3.5 years. The property benefits from a new roof and multiple access points, situated along a high-traffic corridor with over 38,000 vehicles passing daily. The asking price is $5,100,000, representing a price per square foot of $232.08 and a 7.00% cap rate, with a current Net Operating Income (NOI) of $357,057. The property's location offers strong demographics, with average household incomes within a 3, 5, and 10-mile radius exceeding $90,000. Current below-market rents present significant upside potential through gradual increases. The mix of lease structures and small, highly leasable suites further enhances the investment appeal. This property offers a unique opportunity to acquire a well-positioned retail asset with substantial long-term growth potential in a thriving market. The property's strong tenant retention, with a significant portion of leases extending beyond 4 years, ensures stable cash flow.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Arlington
- County
- Tarrant
- State
- Texas
- Longitude
- -97.1145
- Latitude
- 32.6261
