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1605 Dallas Dr - PEP Boys 21,000 SF Retail Building
About 1605 DALLAS DR , DENTON , TX 76205
| Price | Not Individually For Sale | Building Class | C |
| Building Size | 21,000 SF | Lot Size | 1.73 AC |
| Property Type | Retail | Tenancy | Single |
| Property Subtype | Freestanding | Parking Ratio | 3.3/1,000 SF |
| Price | Not Individually For Sale |
| Building Size | 21,000 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Building Class | C |
| Lot Size | 1.73 AC |
| Tenancy | Single |
| Parking Ratio | 3.3/1,000 SF |
Executive Summary
This portfolio offers investors the opportunity to expand their holdings by purchasing individual locations, select groupings of similar properties, or the entire portfolio. The sale is facilitated by PropertyGroupUSA, a renowned investment firm with an extensive nationwide portfolio. PropertyGroupUSA aims to divest certain key assets to realign its portfolio towards targeted sectors.
The properties in this portfolio range from a 2,575-square-foot former Taco Bell to a former 55,000-square-foot big box Academy Sports, showcasing a diverse array of assets. The primary property types include former CVS Pharmacy and Pep Boys automotive repair buildings, complemented by two big box stores and two restaurants. Each property is freestanding, stand-alone, and vacant and benefits from flexible zoning, not being part of other shopping centers, thus offering maximum versatility. These properties feature unique attributes such as drive-thrus, restaurant equipment, and drive-in doors, which enhance their adaptability for various future uses. In addition, the micro-locational benefits make them attractive to a wide range of buyers, with the corresponding cities and markets performing exceptionally well.
The markets surrounding each property show promising signs for successful investments, supported by multifaceted economies that promote diverse uses. More than half of the properties are located on hard corners, and some are in designated opportunity zones. All but two properties exhibit positive population growth within a 3-mile radius through 2028, with several having average household incomes exceeding six figures within that area. Overall, market indicators are highly favorable for the various locations. Notably, CoStar identified the Phoenix market, which houses two of the portfolio’s properties, as the leading market for retail improvement since the pandemic. The leasing availability rate in Phoenix declined more than any other metro area in the nation from Q4 2019 to Q1 2024. Even the smallest market in this portfolio, Meridian, boasts a very low retail vacancy rate of 3.3%, with rents increasing by more than 5% year-over-year (Q3 2024, CoStar).
For more information, please refer to the attached documents and contact Randall Perry at 727-755-3249.
The properties in this portfolio range from a 2,575-square-foot former Taco Bell to a former 55,000-square-foot big box Academy Sports, showcasing a diverse array of assets. The primary property types include former CVS Pharmacy and Pep Boys automotive repair buildings, complemented by two big box stores and two restaurants. Each property is freestanding, stand-alone, and vacant and benefits from flexible zoning, not being part of other shopping centers, thus offering maximum versatility. These properties feature unique attributes such as drive-thrus, restaurant equipment, and drive-in doors, which enhance their adaptability for various future uses. In addition, the micro-locational benefits make them attractive to a wide range of buyers, with the corresponding cities and markets performing exceptionally well.
The markets surrounding each property show promising signs for successful investments, supported by multifaceted economies that promote diverse uses. More than half of the properties are located on hard corners, and some are in designated opportunity zones. All but two properties exhibit positive population growth within a 3-mile radius through 2028, with several having average household incomes exceeding six figures within that area. Overall, market indicators are highly favorable for the various locations. Notably, CoStar identified the Phoenix market, which houses two of the portfolio’s properties, as the leading market for retail improvement since the pandemic. The leasing availability rate in Phoenix declined more than any other metro area in the nation from Q4 2019 to Q1 2024. Even the smallest market in this portfolio, Meridian, boasts a very low retail vacancy rate of 3.3%, with rents increasing by more than 5% year-over-year (Q3 2024, CoStar).
For more information, please refer to the attached documents and contact Randall Perry at 727-755-3249.
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