Center Marketplace
Closed639-677 Hurst St, Center, TX 75935
Property type
Retail
Unit / Space count
6
Price
Contact Broker for Sale Price
Building size
41,600 sf
Rentable area
41,600 SF
Year built
2008
Year renovated
Occupancy
Zoning code
Lot size
3.91 Acres
Sold/status
Sold · Date unknown
Property description
Franklin Street is pleased to present Center Marketplace, a 100% leased Walmart shadow anchored center leased to national credit anchor tenants in Eastern Texas. Center, Texas is located 17 miles from the Louisiana border and the county seat. The property is anchored by a strong Beall's that ranks in the top 64 percentile in the chain and they have a favorable rent with multiple options, which will keep them in the center long term. Other national soft good retailers in the center include Cato Fashion, Hibbetts Sporting Goods and Shoe Sensation to round out the center. The adjacent Walmart generates 1.4.25 annual visits per shopper and draws from a larger trade area with the next closest Walmart being thirty (30) miles away. In addition, Texas is a pro-business state with no state income tax. Center Marketplace is occupied by a national tenant lineup at rental rates below the retailers national averages. The property is located at the center of the retail hub for a large trade area and next to nation retailers including CVS, McDonald’s, Whataburger, AT&T, Tractor Supply, Goodwill, Dollar Tree, Autozone, and Brookshire Brothers.
Property highlights
- Walmart Shadow Center 100% Leased to National Credit Tenants
- Long-Term Tenants Ensure Stability of the Center
- Adjacent High-Trafficked Walmart Draws Return Shoppers to the Center
- Surrounded by Schools, Hotels and Large Industrial Employers, All Providing Traffic to the Center
- Limited Competition for Shoppers, Serving a Large Trade Area
- Pro-Business State with No State Income Tax on Investments
- Attractive Assumable Financing Providing Double Digit Cash on Cash Returns: 6.0% interest and significant term remaining
- Significant Term Remaining on Anchors: Bealls (5+ Yrs), Hibbett (5 Yrs), and Shoe Sensation (7 Yrs)