8053 Grapevine HwyNorth Richland Hills, TX 76180

Property Details for 8053 Grapevine Hwy

Year built

1984

Lot size

1.43 AC

Property size (Sq ft)

15,785 SF

Property type

Retail properties

Property subtype

Retail space

Description

Central Plaza, a 15,785-square-foot retail center in North Richland Hills, Texas, presents a compelling investment opportunity. This single-story, 1984-built property boasts 100% occupancy across nine tenants in eleven units, generating a strong NOI of $201,496.52 and a 7.50% cap rate. Located at 8053 Grapevine Hwy, the property features 194 feet of frontage on a major thoroughfare, just south of a signalized intersection. The 1.43-acre lot includes 67 parking spaces. Currently operating under a gross lease structure, this property offers significant value-add potential through rent increases and lease conversions to triple-net leases. The average rent is $13 per square foot. The F-1 zoning allows for flexibility. The property's prime location benefits from a dense trade area with 264,188 people within a five-mile radius, and proximity to new residential developments and the upcoming Peppa Pig Theme Park. The small suite sizes ensure high leasability. This property is ideal for investors seeking a strong return and redevelopment potential within the city's Business Improvement and Growth (BIG) Program. The asking price is $2,686,620, translating to $158.37 per square foot.

Location Insight

City

North Richland Hills

County

Tarrant

State

Texas

Latitude

32.8382

Longitude

-97.2087

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