Forum at Soncy Pad,
Amarillo, TX Investment Summary
| Price | $3,115,000 |
| Cap Rate | |
| NOI | |
| Lease Term | Various |
| Lease Type | Net Leases, with Tenants Responsible For All Taxes, Insurance, and Maintenance, Excluding Roof and Structure |
| Rental Increases | Various |
| Year Built | 2007 |
| Building Size | 6,977 SF |
| Lot Size | 1.03 Acres (44,867 SF) |
| Status | Sold |
| Lead Brokers | Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 |
Investment Highlights
100% LEASED MULTI-TENANT RETAIL-ASSET WITH SCHEDULED RENTAL INCREASES
» 100% leased multi-tenant retail asset featuring iconic corporate tenants
» Multi-tenant asset allows for investment diversification
» Scheduled rental increases for all leases, providing a hedge against inflation
» Complimentary mix of “Amazon-proof” retailers
» Located in a state with no income tax
LOCATED IN A DENSELY POPULATED, AFFLUENT, AND GROWING TEXAS CORRIDOR
» High-visibility and easily accessible location along State Route 335/South Soncy Road (27,161 AADT)
» Immediate access to highly trafficked Texas thoroughfares, including Southwest 34th Avenue and Interstate 40 (combined 112,009 AADT)
» Population of 118,072 within a five-mile radius of the location, creating an extremely large customer base for the site
» Average annual household income of $99,638 within one mile of the site
» Projected 10 percent average annual household income increase within five-miles of the site in the next five years, poising Forum at Soncy Pad and Amarillo for concurrent growth
CENTRAL LOCATION NEAR MAJOR EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to a Cost Plus World Market-Anchored shopping plaza, attracting significant crossover shopping to the location
» Surrounded by a strong mix of local and national retailers, including T.J. Maxx, American Freight, JCPenney, Dillard’s, Hibbett Sports, McDonald’s, Starbucks, and many more
» Two miles from BSA Hospital, one of the largest employers in Amarillo (378 beds, 3,400 employees)
» Surrounded by high-density single-family housing developments and large apartment complexes
» Seven miles from Downtown Amarillo, which is considered the regional economic center for the Texas Panhandle
Property Description
SOLD
The site is conveniently placed in a high-visibility and easily accessible location along State Route 335/South Soncy Road (27,161 AADT). The property has immediate access to highly trafficked Texas thoroughfares, including Southwest 34th Avenue and Interstate 40 (combined 112,009 AADT). The site is located in a densely populated area, with a population of 118,072 within a five-mile radius of the location, creating an extremely large customer base for the site. With a projected 10 percent average annual household income increase within five miles of the site in the next five years, Forum at Soncy Pad and Amarillo are poised for significant concurrent growth.
The property is an outparcel to a Cost Plus World Market-Anchored shopping plaza, attracting significant crossover shopping to the location. Visibility is increased by the site’s location surrounded by a strong mix of local and national retailers, including T.J. Maxx, American Freight, JCPenney, Dillard’s, Hibbett Sports, McDonald’s, Starbucks, and many more. The property is two miles from BSA Hospital, one of the largest employers in Amarillo (378 beds, 3,400 employees). The site is surrounded by high-density single-family housing developments and maintains a beneficial proximity seven miles from Downtown Amarillo, which is considered the regional economic center for the Texas Panhandle.
