3101 Al Lipscomb Way Dallas, TX 75215

Property Details for 3101 Al Lipscomb Way

Year built

1966

Lot size

1.96 lot acres

Property size

26,530 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Grand Plaza Shopping Center, a 26,530-square-foot retail property in Dallas, Texas, presents a compelling value-add investment opportunity. Located at 3101 Al Lipscomb Way, this Class B shopping center sits on a 1.96-acre lot (APN: 00000129751000000) and boasts 95% occupancy. The center is currently anchored by Family Dollar and features a diverse tenant mix including Verizon Wireless, T-Mobile, Henderson Chicken, King of Cutz, and ACE Cash Express, among others. Built in 1966, the property is zoned PD-595 and offers significant upside potential due to below-market rental rates averaging $7.68 per square foot. A substantial portion of tenants are on month-to-month or short-term leases, providing immediate opportunities for lease repositioning and revenue growth. The property's prime location in Dallas, just south of Fair Park, benefits from high traffic counts and strong demographics, with over 143,220 residents within a three-mile radius and over 372,418 within five miles. The area features a robust mix of residential, retail, office, and industrial assets, and is conveniently located near major arteries and key traffic generators. The asking price is $4,000,000. This infill location, combined with the existing strong tenancy and lease terms, makes Grand Plaza Shopping Center an attractive investment for both short-term and long-term owners seeking to maximize returns. The property's strategic location and value-add potential offer a unique blend of stability and upside, making it suitable for a wide range of investor profiles.

Location Insight

City

Dallas

County

Dallas

State

Texas

Longitude

-96.768

Latitude

32.7752