9751 Walnut StDallas, TX 75243

Richland Plaza, a 19,615-square-foot shopping center in Dallas, Texas, presents a compelling value-add opportunity. This multi-tenant property, comprised of two buildings on a 2.11-acre lot, boasts 86% occupancy with triple-net (NNN) leases across ten tenants. The tenant mix includes a diverse range of businesses, including a convenience store and several service-oriented and internet-resistant enterprises like a beauty supply store, a halal shop, and a fried chicken restaurant. Located at the hard corner of Walnut Street and Audelia Road, the property benefits from high visibility and accessibility, with combined daily traffic counts exceeding 49,130 vehicles. Its strategic location directly across from the Dallas College Richland campus (20,500+ students) and near major employers like Texas Instruments, Fossil, and Raytheon Technologies, ensures a strong customer base within a densely populated area (over 394,650 residents within five miles). Built in 1979, the property offers significant upside potential through lease-up of vacant suites and current below-market rents. The current NOI is $273,888, with a pro-forma NOI of $363,176 and a pro-forma cap rate of 9.68%. The asking price is $3,750,000, representing a current cap rate of 7.30%. This property offers a strong investment opportunity with significant potential for future growth.