Melissa Wellness Village
14,971 SF | 100% Leased | Retail Building | Melissa, TX 75454 | $7,693,000 ($514/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,693,000
- Property Type
-
Retail
- Square Feet
- 14,971 SF
- Price / Square Foot
- $514
Listing Contacts
Chris Kostanecki
Verified Profile
Zeb Ripple
Verified Profile
Trevor Morse
Verified Profile
- Property Info
Property Overview
The Melissa Wellness Village is a newly constructed, 100% leased retail strip center, located adjacent to a new flagship Kroger, which will facilitate a robust daily needs customer draw to this retail node. Melissa is a high growth and affluent submarket of Dallas, with average household incomes exceeding $146,000 within a 3-mile radius. Melissa is one of the fastest growing communities in North Texas.
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 383,328 SF
Highlights
- A 100% occupied daily needs strip center in the Dallas-Fort Worth Metroplex that features a lineup of national and regional service-based retailers
- The subject property is part of a larger retail and medical office development, positioned directly across from a new flagship 123,0000SF Kroger
- The weighted average lease term (WALT) for the subject property is 9.38 years
- Each tenant has scheduled rental increases throughout the primary terms, and a majority of the tenants have annual rental increases
- Melissa is a growing and affluent city located 41 miles north of downtown Dallas
- Since 2020, the population of Melissa has increased by approximately 70%, and is currently growing at an annual rate of 11.48%
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