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Main Street Crossing 615 Main St 24,034 SF 100% Leased Retail Building Frisco, TX 75036 $11,969,000 ($498.00/SF) 6% Cap Rate
Investment Highlights
- Parallel Positioning to Main Street at its Intersection with FM 423 (80,300+ Combined VPD); Proximity to Dallas North Tollway (116,600+ VPD)
- Neighboring National Tenant Retailers Include H-E-B, Super Target, Petco, BestBuy, Costco Wholesale, Wells Fargo, Bank of America, Chick-fil-a
- Median Home Prices for Adjacent Neighborhoods are $1MM+ at Shaddock Creek Estates & $840,000 at Heather Ridge Estates
- Strong Fundamentals Located on a +/- 2.88-Acre Parcel, Three (3) Patios & Multiple Ingress/Egress Points, Double-Sided Monument Sign
- Located in a Dense Retail Trade Area with 1.7M+ SF of Retail GLA in a 2-Mile Radius
- Frisco Ranked in 2024 as the #3 Fastest Growing City in the U.S. (Fortune) & #1 Best Place to Live for Families in Texas (Fortune)
Executive Summary
- 24,034 SF, 100% Leased Neighborhood Retail Center in Frisco, TX | 2018 Construction | Average Lease Term Expiration of May 2030 | Average Rents of $29.88 PSF
- Complementary Tenant Mix with KIDSUNITED, Core Dentistry, May Foot Spa, Abhiruchi, Cleopatra Beauty Lounge, D’Xquisite Cuisine & Lounge, Domino’s Pizza, J Hair Studio, My Fit Med, Smoke Art, & Bluefin (11 Tenants); 8/11 Tenants Experience Rent Bumps
- Located in the Affluent, High-Growth DFW Submarket of Frisco, TX | Average Household Income Exceeds $192,800 & $192,600 in a 1- & 3-Mile Radii, Respectively| 2,069% Population Increase in a 3-Mile Radius Since 2000
- Notable Nearby Traffic Drivers Include H-E-B, Toyota Stadium, Downtown Frisco Square & Frisco Railhead Project: Proposed $3B, 80-Acre Mixed-Use Development
- Minutes from $12.7 Billion Fields Master Planned Community; Anticipated 5,000 Single Family Residences, 8,500 Multifamily Units & 18M+ SF of Commercial GLA Upon Completion
- Complementary Tenant Mix with KIDSUNITED, Core Dentistry, May Foot Spa, Abhiruchi, Cleopatra Beauty Lounge, D’Xquisite Cuisine & Lounge, Domino’s Pizza, J Hair Studio, My Fit Med, Smoke Art, & Bluefin (11 Tenants); 8/11 Tenants Experience Rent Bumps
- Located in the Affluent, High-Growth DFW Submarket of Frisco, TX | Average Household Income Exceeds $192,800 & $192,600 in a 1- & 3-Mile Radii, Respectively| 2,069% Population Increase in a 3-Mile Radius Since 2000
- Notable Nearby Traffic Drivers Include H-E-B, Toyota Stadium, Downtown Frisco Square & Frisco Railhead Project: Proposed $3B, 80-Acre Mixed-Use Development
- Minutes from $12.7 Billion Fields Master Planned Community; Anticipated 5,000 Single Family Residences, 8,500 Multifamily Units & 18M+ SF of Commercial GLA Upon Completion
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
24,034 SF
Building Class
B
Year Built
2018
Price
$11,969,000
Price Per SF
$498.00
Cap Rate
6%
NOI
$718,186
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
2.88 AC
Frontage
100’ on Main Street
Amenities
- Corner Lot
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R727533 | Improvements Assessment | $5,992,599 |
| Land Assessment | $2,507,401 | Total Assessment | $8,500,000 |
Property Taxes
Parcel Number
R727533
Land Assessment
$2,507,401
Improvements Assessment
$5,992,599
Total Assessment
$8,500,000
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Main Street Crossing | 615 Main St
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