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United Supermarkets Anchored Shopping Center 703 Marshall Howard Blvd 88,418 SF 75% Leased Retail Building Littlefield, TX 79339 $3,151,000 ($35.64/SF) 8.15% Cap Rate
INVESTMENT HIGHLIGHTS
- 8.15% Cap Rate at 75.21% Leased Grocery Anchored Shopping Center of 88,418 SF
- Priced Significantly Below Replacement Costs at $35.64 PSF
- 12.01% Pro Forma Cap Rate at List Price
- Situated on 8.57 Acres 30 Minutes from Lubbock, Texas
- United Supermarkets has Anchored Property since December 1977 (40+ Years)
- Immediate Upside Potential Exists in Leasing Two (2) Existing Vacancies
EXECUTIVE SUMMARY
United Supermarkets Anchored Retail Center is an 88,418 SF grocery anchored asset situated on approximately 8.57 acres in Littlefield, Texas. The property is located on Highway 84 and is approximately 30 minutes northwest of Lubbock, Texas. United Supermarkets Anchored Retail Center is 75.21% leased to a complimentary mix of grocery, retail and service tenants including United Supermarkets, Dollar Tree, O’Reilly Auto Parts, Gebo’s and Energy Fitness. United Supermarkets is the longest tenured tenant at the Property (over 47 years since December 1977). Immediate upside potential exists by leasing up two (2) existing vacancies and converting existing gross leases to NNN. The Property benefits from excellent visibility with parallel frontage to Highway 84, multiple ingress/egress points, and a large highly visible two-sided pylon sign. Offered at an attractive 8.15% cap rate, with potential for an 12.01% pro forma cap rate at list price, by leasing existing vacancies, the Property is priced significantly below replacement cost at just $35.64 PSF.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
88,418 SF
Year Built/Renovated
1965/2023
Price
$3,151,000
Price Per SF
$35.64
Cap Rate
8.15%
NOI
$256,861
Percent Leased
75%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
8.57 AC
Opportunity Zone
Yes
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R12302 | Improvements Assessment | $735,430 |
| Land Assessment | $28,850 | Total Assessment | $764,280 |
PROPERTY TAXES
Parcel Number
R12302
Land Assessment
$28,850
Improvements Assessment
$735,430
Total Assessment
$764,280
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United Supermarkets Anchored Shopping Center | 703 Marshall Howard Blvd
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