Shops on Lebanon 4747 Fourth Army Dr
18,863 SF 100% Leased Retail Building Frisco, TX 75034 $11,052,000 ($586/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Leased, 18,863 SF 2019 Construction Neighborhood Retail Asset in the Affluent, High-Profile DFW Submarket of Frisco, TX
- Average Rent of $34.76 NNN Providing Sustained Rent Growth Potential
- Average Household Income Exceeds $220,619 and $168,682 in a 1 & 3 Mile Radii, Respectively
- Frisco Ranked in 2024 as the #3 Fastest Growing City in the U.S. (Fortune) and #1 Best Place to Live for Families in Texas (Fortune)
EXECUTIVE SUMMARY
Shops on Lebanon is an 18,863 square foot, 2019 construction multi-tenant neighborhood retail asset located in the affluent, high-growth DFW submarket of Frisco, Texas. The Property is located approximately 25 minutes north of Downtown Dallas with proximity to major Texas thoroughfares, Dallas North Tollway TX-121 and Highway 380. Shops on Lebanon is 100% leased to a relevant mix of service, health and wellness, and restaurant tenants including Beyond Pilates, Cotton Dentistry, Curated Design Partners, Icebox Cryotherapy, Dog Training Elite, Rebalance Wellness Solutions, Twinkle Star Dance, Mava’s Indian Kitchen, and Century Salon Suites. The average base lease term expiration is June 2028, and all tenants have at least one renewal option with over half of the tenants having built-in rent escalations within their primary term.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
18,863 SF
Building Class
B
Year Built
2019
Price
$11,052,000
Price Per SF
$586
Cap Rate
6%
NOI
$663,167
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
2.57 AC
Zoning
Commercial (F1)
PROPERTY TAXES
| Parcel Number | R683750 | Improvements Assessment | $6,144,510 |
| Land Assessment | $1,790,490 | Total Assessment | $7,935,000 |
