Promenade North Plaza 6 Properties Offered at $13,568,884 CAD in Richardson, TX
INVESTMENT HIGHLIGHTS
- Located off Coit Rd with traffic counts ±40,000 VPD
- Stable investment opportunity - 93.39% occupied
- Diverse tenant mix provides a hedge against market fluctuations
- Strong daytime population: Over 600,000 people within 5 miles
- Potential value-add through conversion of major tenant's reimbursement structure
EXECUTIVE SUMMARY
Promenade North Plaza is a 59,355 square foot multi-tenant retail center built in 1979 and situated on 4.228 acres of land. The Property is currently 93.39% occupied with a WALT of 3.18 years. Located in a prime commercial corridor of Richardson, TX, the property is surrounded by office buildings, retail centers, and dense residential neighborhoods. The asset is positioned between 3 major highways: Interstate 75, President George Bush Turnpike, and Interstate 635, providing easy access to the property for clients and business operations. Located just 10 miles north of Downtown Dallas, the property offers convenient access to the city's core business district. The area is densely populated, with a total daytime population of 601,301 within a 5-mile range. On top of a large population, the immediate residential area proliferates financially, with projected household income reaching over $151,000 by 2028. Major retailers and businesses encompass the area, including State Farm, Blue Cross Blue Shield, and Cisco Systems.
PROPERTY FACTS
| Price | $13,568,884 CAD |
| Price / SF | $57.08 CAD / SF |
| Cap Rate | 8.02% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 237,731 SF |
| Total Land Area | 32.22 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Promenade Business Park
510 N Coit Rd, Richardson, TX 75080 |
Retail | 90,650 SF | 1979 | - |
| 620 N Coit Rd, Richardson, TX 75080 | Retail | 25,496 SF | 1979 | - |
|
Promenade Business Center
630 N Coit Rd, Richardson, TX 75080 |
Office | 12,013 SF | 1979 | - |
|
Promenade Shopping Center
600 N Coit Rd, Richardson, TX 75080 |
Retail | 13,752 SF | 1979 | - |
|
Promenade Business Park
410 N Coit Rd, Richardson, TX 75080 |
Specialty | 5,170 SF | 1979 | - |
|
Promenade Business Park
420 N Coit Rd, Richardson, TX 75080 |
Retail | 90,650 SF | 1973 | - |
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