400 S Oak St, Unit 100 Roanoke, TX 76262

Property Details for 400 S Oak St

Year built

1974

Lot size

0.31 lot acres

Property size

1,320 SF

Property type

Commercial real estate

APN

R72492

APU

R72492

Description

This exceptional 16,714-square-foot shopping center in Roanoke, Texas, presents a compelling investment opportunity. Located at 400 S Oak St, 76262, this fully leased, multi-tenant property boasts a 7.00% cap rate and a strong NOI of $589,818. The center is situated on 0.8 acres and features seven tenants, including a diverse mix of restaurants and retailers, all operating under triple-net (NNN) leases, minimizing landlord responsibilities. Built in 2017, the property is part of a thriving mixed-use development, situated on the ground floor of a 311-unit apartment complex, Two99 Monroe, ensuring high foot traffic and visibility. Its prime location in Historic Downtown Roanoke, designated "The Unique Dining Capital of Texas" by the Texas House of Representatives, benefits from a pedestrian-friendly environment and numerous community events. The area enjoys high average household incomes ($153,286 within five miles) and a large population (over 102,037 residents within five miles). Proximity to major retailers, distribution centers, and airports further enhances its appeal. A planned boutique hotel and conference center across the street promises future growth potential. This is a stabilized asset with a strong tenant base and significant upside potential in a rapidly growing area. The asking price is $8,420,000, representing a price per square foot of $503.77.