For Sale
$1,700,000

4400 Watercrest RdKilleen, TX 76549

High-growth potential, multi-tenant retail center.

Overview

Added:
Dec 11, 2024
Days on market:
117
This 14,450-square-foot shopping center in Killeen, Texas, presents a compelling value-add opportunity. Currently 38% occupied with three tenants under triple-net (NNN) leases, the property offers significant upside potential by leasing the remaining vacancies. The center boasts a desirable location at the intersection of Watercrest Road and Windfield Drive, benefiting from approximately 10,508 vehicles per day. A large, double-sided monument sign enhances visibility. The building, constructed in 2011, features a metal roof and sits on a 1.35-acre lot with ample paved parking. Tenants include a mix of internet-resistant and service-oriented businesses. The property's strategic location near Fort Cavazos, AdventHealth Central Texas, and Central Texas College ensures a strong customer base within a densely populated area (over 135,145 residents within five miles). The asking price is $1,700,000 ($117.65/sq ft), representing a current NOI of $37,723 and a pro-forma NOI of $223,860, yielding a pro-forma cap rate of 13.17%. The property is surrounded by national and regional retailers, further enhancing its appeal and potential for increased occupancy and revenue. This is a rare opportunity to acquire a below-replacement-cost retail center in a high-growth market with substantial upside potential.

Highlights

  • 14,450-square-foot multi-tenant retail center.
  • 38% occupied, triple-net leases.
  • Significant leasing upside; 13.17% pro forma cap rate.
  • Tenant mix includes internet-resistant and service businesses.
  • Below-market rents.
  • Priced at $118/SF, below replacement cost.

Property Details for 4400 Watercrest Rd

Property type
Lifestyle centers, Power centers
Square Feet
14,450 SF
Year Built
2011
Buildings
1
Lot Size (sq. ft)
58,806 SF
Units
10

Location Insight

City
Killeen
County
Bell
State
Texas
Latitude
31.112505225165
Longitude
-97.786783366426
4400 Watercrest Rd, Killeen, Texas

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4400 Watercrest Rd
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