Roanoke Commons | 311 S Oak St
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Roanoke Commons 311 S Oak St
12,022 SF 100% Leased 4-Star Retail Building Roanoke, TX 76262 $6,133,647 CAD ($510 CAD/SF) 7.25% Cap Rate
Investment Highlights
- 3-Tenant Mixed-Use Asset Located in the Affluent DFW Submarket of Roanoke, TX
- Affluent Submarket with Average Household Income Exceeding $107,600; $177,700 within 1-Mile & 3-Mile Radii
- Minutes from Texas Motor Speedway, a 1,500-Acre Superspeedway with Over 154,861 Seats that Hosts Over 60 Events a Year
- Average Rent of $26.01 PSF NNN
- Part of Historic Downtown Roanoke aka “The Unique Dining Capital of Texas”
Executive Summary
Roanoke Commons is a 12,022 square foot three tenant mixed-use asset located in the affluent Dallas/Fort Worth submarket of Roanoke, Texas. Constructed in 2016, the Property is approximately 30 minutes northwest of Downtown Dallas and 20 minutes north of Downtown Fort Worth. Roanoke Commons is 100% leased to a complementary tenant lineup of retail and service users including Wise Guys Pizzeria, Fosters Sushi and Newstream Commercial. The property benefits from parallel frontage to Oak Street, partial masonry construction, multiple patio options and shallow bay depth. Rents average just $26.01 PSF NNN. Tenants have an average base lease term expiration of July 2030, experience at least one rent escalation during their primary lease terms and 2 out of 3 tenants have multiple renewal options with built in annual increases. Roanoke Commons is located within a densely populated corridor containing more than 1,100,000 square feet of retail GLA, 1,500,000 square feet of office GLA and 12,400,000 square feet of industrial GLA within a 1.5 mile radius.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
12,022 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2016
Price
$6,133,647 CAD
Price Per SF
$510 CAD
Cap Rate
7.25%
NOI
$444,767 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.45
Lot Size
0.61 AC
Zoning
Retail, Medical, Office - Office
Parking
37 Spaces (3.08 Spaces per 1,000 SF Leased)
Frontage
171 ft on S Oak St
Amenities
- 24 Hour Access
- Corner Lot
- Restaurant
- Tenant Controlled HVAC
- Air Conditioning
- Balcony
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R695750 | Improvements Assessment | $5,076,309 CAD |
| Land Assessment | $1,587,093 CAD | Total Assessment | $6,663,402 CAD |
PROPERTY TAXES
Parcel Number
R695750
Land Assessment
$1,587,093 CAD
Improvements Assessment
$5,076,309 CAD
Total Assessment
$6,663,402 CAD
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Roanoke Commons | 311 S Oak St
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