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Chadwick Commons Retail Center 4901 TX-114

17,530 SF 100% Leased Retail Building Northlake, TX 76262 £6,600,774 (£377/SF) 6.35% Net Initial Yield

Investment Highlights

  • 100% Leased Retail Center in the High Growth, Affluent Submarket of Northlake, TX (DFW)
  • All Six (6) Tenants Experiencing Rent Bumps During Primary Term
  • Interstate 35W & Highway 114 Intersection (130,000+ VPD Combined)
  • Drive Thru End Cap Retail Center with Average Base Lease Term Expiration of September 2029 & Rents Averaging Just $30.31 PSF NNN
  • Across from Texas Motor Speedway; Hosts Multiple NASCAR Races & Events with Total Capacity Over 181,600 Spectators
  • Average Household Income Exceeds $122,900, $140,800 and $150,600 in 1, 3 & 5 Mile Radii, Respectively

Executive Summary

Chadwick Commons Retail Center is a 17,530 SF retail center located across from Texas Motor Speedway in the high-growth, affluent DFW submarket of Northlake, Texas. Positioned just off the Interstate 35W and State Highway 114, the Property is approximately 20 minutes west of Dallas/Fort Worth International Airport and 20 minutes north of downtown Fort Worth. Chadwick Commons Retail Center is 100% leased to a complementary mix of restaurant, medical and service tenants. The average base lease term expiration is September 2029 with all six (6) tenants experiencing built-in rent escalations during their primary lease terms with rents averaging $30.31 PSF NNN. The Property benefits from parallel positioning to Highway 114, a drive through and outdoor patio for PJ’s Coffee, average suite size of 2,504 SF, shallow bay depth, masonry components, multiple ingress/egress points and a large highly-visible 2-sided monument sign fronting Highway 114. Total population within a one-mile radius of Chadwick Commons Retail Center increased by a staggering 2,227% from 2000 to 2023. Notable national retailers at the immediate intersection include Buc-cee’s, Chick-fil-A, Chipotle, Whataburger, Popeyes, In-N-Out Burger, 7-Eleven & QuickTrip amongst others. The Dallas Stars NHL Team plans to operate a $45 Million athletic facility (StarsCenter Multisport) including Two (2) NHL rinks (as well as basketball/)volleyball), along with hospitality, retail & up to 900 apartments, next door to the east. StarsCenter Multisport, located within the Chadwick Farms mixed-use development, is anticipated to have over 1,300,000 visitors annually (Dallas Morning News).

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
17,530 SF
Year Built
2019
Price
£6,600,774
Price Per SF
£377
Net Initial Yield
6.35%
NOI
£419,192
Percent Leased
100%
Number of Floors
1
Building FAR
0.18
Land Acres
2.29 AC
  • Listing ID: 31695877

  • Date on Market: 03/05/2024

  • Last Updated:

  • Address: 4901 TX-114, Northlake, TX 76262

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