Property Name

Former Albertsons

Square Footage 63,544 SF

Percent Leased 4% Leased

Property Description

Former Albertsons is a 63,544 square foot repositioning opportunity at a dynamic retail intersection of US-377 and TX-114 in Roanoke, Texas. The Property is located on 5.68 acres of land approximately 15 minutes west of DFW International Airport, 30 minutes north of Downtown Fort Worth & 40 minutes northwest of Downtown Dallas. At 4.00% leased, Former Albertsons offers meaningful value add potential by leasing the existing vacant grocery store space which totals 61,000 square feet. Pro forma estimates contemplate leasing the vacancy at $10.00 PSF NNN. Los Molcajetes Mexican Restaurant occupies 2,544 square feet through July 2020, paying only $14.67 PSF foot NNN. Retail rents in the immediate TX-114/US-377 trade area average more than $24.00 per square foot NNN (CoStar). The Property is priced well below replacement cost at $69.24 PSF to the building and near land value at $17.80 PSF to the dirt.