320 Main StCrowley, TX 76036

Property Details for 320 Main St

Year built

1986

Lot size

1.90 AC

Property size (Sq ft)

24,139 SF

Property type

Individual retail properties

APN

-8974K---1----1---E2

APU

8974K11E2

Description

This exceptional investment opportunity presents a fully leased, 45,146-square-foot shopping center in Crowley, Texas. The property boasts a 7.00% cap rate and is anchored by two tenants: House of Air Indoor Trampoline Park and Dill Dinkers Pickleball. Dill Dinkers recently signed a new 10-year lease, providing long-term stability. Both leases are triple-net (NNN) and include personal guarantees, minimizing landlord risk. Built in 1986, the single-building property sits on a 3.65-acre lot with ample parking. The roof and HVAC systems have been recently replaced, reducing future capital expenditure needs. The property enjoys a prime location at the southwest corner of Main Street and Crowley Road, benefiting from high daily traffic counts exceeding 24,790 vehicles. Its strategic position near Crowley High School (enrollment 2,351 students) and numerous national retailers (including Planet Fitness, McDonald's, Walmart, and Kroger) ensures consistent foot traffic and strong tenant demand. The city of Crowley itself shows robust demographics, with high retail occupancy rates (averaging 96%) and competitive rents, creating a favorable investment climate. Recent city improvements, including a $5.5 million streetscaping project, further enhance the property's appeal and surrounding area. The asking price is $6,635,500, representing a price per square foot of $146.98, considered below replacement cost. The property's strong tenant mix, favorable lease terms, and prime location make it an attractive investment for discerning buyers. The Net Operating Income (NOI) is $454,485.

• CAP approach

  CAP return

  Valuation

  6%

  $7,165,666

  6.5%

  $6,614,461

  7%

  $6,142,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,693,362

  Geo Method

  $18,211,978

• Alternative Use

  Use

  Valuation

  Residential

  $5,579,545

  Hospitality

  $5,110,834

  Educational

  $4,252,154

  Medical

  $4,398,392

  Retail

  $6,614,461

Location Insight

City

Crowley

County

Tarrant

State

Texas

Latitude

32.578

Longitude

-97.3558

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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