602 Donald Preston Dr Wolfforth, TX 79382-5419

Property Details for 602 Donald Preston Dr

Year built

2018

Lot size

1.45 lot acres

Property size

6,165 SF

Zone code

16

Property type

Strip malls

Property subtype

Neighborhood centers

APN

R159309

APU

R159309

Description

This exceptional 10,680-square-foot shopping center in Wolfforth, Texas, presents a compelling investment opportunity. Built in 2018, the property boasts 100% occupancy across its six units, generating a strong net operating income (NOI) of $188,724 and an 8.00% cap rate. The asking price is $2,360,000, translating to $220.97 per square foot. The center features a desirable mix of tenants under NNN leases with a weighted average lease term of four years. Each unit averages 1,780 square feet, catering to a broad range of businesses. A key advantage is the property's strategic location directly across from Frenship High School, a 6A high school with over 3,000 students, ensuring high visibility and foot traffic. Furthermore, the center benefits from a drive-thru end cap and additional billboard income streams. Situated on a 1.45-acre lot, the single-story building is part of a rapidly growing area, experiencing significant residential development with new subdivisions and apartment complexes. The property enjoys proximity to numerous national retailers, including Walmart, O'Reilly Auto Parts, Braum's, Tractor Supply Co., Chick-fil-A, Panda Express, McDonald's, United Supermarkets, Domino's Pizza, CVS, and Pet Supplies Plus, solidifying its position within a thriving retail environment. Wolfforth itself has seen remarkable population growth of nearly 40% since 2010, indicating a robust and expanding market. This investment offers a blend of strong current performance and significant future potential in a high-demand location.