7301-7401 Matlock RdArlington, TX 76002

Property Details for 7301-7401 Matlock Rd

Year built

2006

Lot size

3.38 AC

Property size (Sq ft)

21,975 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Matlock Plaza, a Class B shopping center in Arlington, Texas, presents a compelling investment opportunity. This stabilized, multi-tenant retail property boasts 21,975 square feet across two single-story buildings on a 3.38-acre lot at 7301-7401 Matlock Rd, zip code 76002. Built in 2006, the center features 14 units with an average size of 1,570 square feet, currently enjoying 100% occupancy under a gross lease structure with a remaining lease term averaging 3.5 years. The property benefits from a new roof and multiple access points, situated along a high-traffic corridor with over 38,000 vehicles passing daily. The asking price is $5,100,000, representing a price per square foot of $232.08 and a 7.00% cap rate, with a current Net Operating Income (NOI) of $357,057. The property's location offers strong demographics, with average household incomes within a 3, 5, and 10-mile radius exceeding $90,000. Current below-market rents present significant upside potential through gradual increases. The mix of lease structures and small, highly leasable suites further enhances the investment appeal. This property offers a unique opportunity to acquire a well-positioned retail asset with substantial long-term growth potential in a thriving market. The property's strong tenant retention, with a significant portion of leases extending beyond 4 years, ensures stable cash flow.

Location Insight

City

Arlington

County

Tarrant

State

Texas

Latitude

32.6261

Longitude

-97.1145

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