1700-1708 N Elm St
Denton, TX 76201
N Elm Retail Center · Retail Property For Sale

Small attractive neighborhood retail strip shopping center. Located 2 blocks in from busy University Blvd / Hwy 380 on busy major thoroughfare leading from N Denton to downtown. Heavy traffic and high visibility. Great location for small to medium retail – office – medical user. Major existing tenant is a long established locally owned and operated bicycle sales / service and repair shop. 7,200 SF neighborhood retail center – Currently 3 lease spaces WHS: 6 bay mini-WHS building in the back. 6 spaces - @ 20’ wide with OHD. Owner currently using – could be leased for approx. $110@/MO Building measurements – 65 x 20 = 1,300 SF total Each space is approx. 10x20. OHD are 5@ 8x9 and 1@7x9. Interior height is 10’ Tenant Space Lease Expires Rent - Monthly Rent – Annual SF Rate People Ready 1708 12/20 $2,300.00/MO $27,600 2,400 $11.40 Church 1704 3/31/20 $2,294.75/MO $27,537 1,200 $12.96 Bike Shop 1700 6/21 $3,600.00/MO 43,200 3,600 $12.00 Total $8,194.75/MO $98,337 7,200 $12.12/AVG Total $98,337/YR INCOME: Gross Potential Income – Retail Leases: $98,337/YR Mini-WHS Spaces: 6 @ $110/MO@: $7,920/YR Total GPI: $106,257.00 PROFORMA: Gross Potential Rental Income: $106,257 Less Vacancy Allowance – 2%: -$2,125.14 Effective Gross Income Potential: $104,131 Less Taxes: $14,282 Less Repairs: $4,000 Net Potential Operating Income: $85,849 Current Lease Space Comments: • Denton Bicycle Center: Currently finished out and suitable for Office/Retail/Service type use. It is possible this space could be repurposed in the future and possibly divided to 2 spaces. Uses could be office, retail, medical, food service and depending on the use and the finish out could garner higher rental rates accordingly. • Church Space: The space could be improved with minimal improvement costs if current tenant moves out and increase the rent slightly. With a current rental rate of $12.96/SF there is room for a rent increase with continued similar office use by a new tenant. • People Ready: The space could be improved with minimal improvement costs if current tenant moves out and increase the rent slightly. With a current rental rate of $11.40/SF there is room for a rent increase with continued similar office use by a new tenant.