Lake Plaza 505-521 N Stewart St

LanCarte Commercial, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the fee-simple interest in a 100% leased multi-tenant retail center (the “Property”/“Investment”), located at 505-527 North Stewart Street, Azle, Texas. The Property spans 64,062 square feet on 5.89 acres and is fully leased to seven (7) tenants, anchored by Brookshire’s, a well-established grocery retailer.
This Investment benefits from its location in Azle, Texas, a rapidly growing suburban market northwest of Fort Worth. Azle has experienced over a 20% population increase over the past decade, fueled by its proximity to major employment centers and an exceptional quality of life. The area boasts rising household incomes, which enhance tenant success and support retail spending.
Brookshire’s, the Property’s anchor tenant, has recently invested approximately $3,000,000 in façade improvements, reinforcing its long-term commitment and increasing the center’s appeal. Current tenant rents are below market rates, providing a clear opportunity for investors to implement value-add strategies through lease repositioning as renewals occur.
The Property benefits from being part of a stable retail submarket, with consistently low vacancy rates in Azle. Its strategic location in a growing community ensures sustained demand for retail spaces. This is a rare opportunity to acquire a stabilized, income producing retail center in a high-demand market with significant upside potential through rental growth and tenant mix enhancements.