Saginaw Value Add Opportunity
Saginaw Value Add Opportunity is a 14,050 SF value add retail, office and medical office asset price well below replacement cost located adjacent to a new construction Planet Fitness within a strong retail corridor of Saginaw, Texas (DFW). Situated on 1.48 acres of land, the Property is approximately 10 minutes from downtown Fort Worth, 20 minutes from Dallas Fort Worth International Airport & 35 minutes from downtown Dallas. Saginaw Value Add Opportunity is 67.62% leased to a complementary mix of service tenants including Collections Fine Jewelry, Saginaw Pet Care, The Law Office of Carey Thompson, P.C., Taco Casa & Barber Shop. Rents average just $18.72 PSF with substantial upside potential in leasing existing vacancies and converting the gross lease to NNN. The total population increased by over 236% in a three mile radius from 2000 to 2022. Within 5 minutes north of the Property along Saginaw Boulevard is approximately 844,000 SF of retail, restaurant and entertainment GLA. Notable retailers along Saginaw Boulevard include Walmart Supercenter, Walgreens, Aldi, Albertsons, Planet Fitness, Dollar General, Family Dollar, Starbucks, Simmons Bank, Shipley Do-Nuts, Advance Auto Parts, Jack in the Box and RaceTrac amongst others. Offered at an attractive 9.69% pro forma cap rate, the Property is priced well below replacement costs at $175.73 PSF.