4004 Little Rd
Arlington, TX 76016
Pleasant Ridge Plaza · Retail Property For Sale

- Kroger Shadow Anchored Center: Being strategically shadowed to a Nationally recognized Grocer, Pleasant Ridge Plaza benefits from cross-traffic exposure. - Great Redevelopment Opportunity: Two of the current tenants are currently on month-to-month leases. This creates an opportunity for a new owner to repurpose these spaces and bring rents up to market for increased cash flow. - Built-In Upside: 83% of the center has scheduled increases in their base rent, virtually guarantying an increased NOI over the first few years of ownership of the asset. - Below Market Rents: The average rental rate in the center is $13.56, while like-kind product in the immediate trade area is leasing from $16-$20 psf. - Exceptional Demographics: The average household incomes within a 3-mile radius of the property is an impressive $100,262, which is well above the national average. Furthermore, the center is able to cater to the diversified needs of the immediate population by providing destination-based shops. - Extremely Dense Population: Currently, there is an outstanding 953,128 people living within a 5-mile radius of the center. - High Growth Trade Area: Located in a highly dense retail corridor of South Arlington, the Property has benefited from significant population growth over the past ten years, with a 13.24% increase from 2010 to 2019 and a projected increase of 7.42% in the next four years.