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RARE VALUE ADD RETAIL OPPORTUNITY LOCATED IN DALLAS, TX ONLY TWELEVE MINUTES TO DOWNTOWN DALLAS VALUE ADD THROUGH STRINGENT PROPERTY MANAGEMENT AND CAPITAL IMPROVEMENTS POTENTIAL TO EARN DOUBLE DIGIT CASH ON CASH RETURNS FIFTY-EIGHT THOUSAND SIX HUNDRED AND NINETY THREE FOOT CENTER INCLUDES 19 RETAIL SUITES WHICH AND ALSO A FREE-STANDING DRIVE THROUGH RESTAURANT PRESENTLY SEVERAL LEASES ARE MONTH TO MONTH AT BELOW MARKET RENTS
Onyx Legacy Realty LLC is pleased to present the Glendale Shopping Center, 1954-built retail shopping center asset located at 4478 S. Marsails Ave. Dallas, TX 75216. The Glendale Shopping Center has excellent access to Interstate 35 and is only twelve minutes to Downtown Dallas. The 4.96 acre retail site comes with four buildings, a total of nineteen suits, and a free standing drive through restaurant. The Glendale Shopping Center is considered a true neighborhood retail center and is a household name in the area. Tenants include but are not limited to Family Dollar, Marsalis Urgent Care Clinic, Time Saver Food Mart and the For Oak Cliff satellite office among others. The property does not include the Glendale Service Inspection Center nor the King Tire Auto Service auto shops as seen along S. Marsalis. The shopping center has a asphalt parking lot, and the exterior is comprised of concrete and brick masonry with tilt walls, slab foundations, flat roofs, individual HVAC's and is submetered for both electricity and water. The Marsalis Urgent Care Clinic and For Oak Cliff suites have received substantial capital improvements and upgrades within the last five years.
According to the appraisal district current ownership has held title in some capacity since 1999. The property is priced below replacement costs. The marjority of tenants are now operating on a month to month basis at far below market rental rates. Future owners will have the option to renew the leases with stringent terms, or obtain new tenants, while making capital improvements to the interior and exterior of the suites. New ownership should budget for and potentially update the parking lot, roofs, signange, add fresh paint and curb appeal, and exterior lighting to attract new tenants at market rates.
According to a 2024 recent NBC report the DFW Metroplex surpassed 8 million residents between 2022 and 2023, adding 152,598 residents for a total population of 8,100,037. This was the largest numeric population increase of any U.S. metro area between that timeframe. This is a rare true value add asset ideal for investors who can make substantial capital improvements and potentially seize market rents and double digit cash on cash returns. Investors seeking a multi-tenant shopping center, with below market rates, in one of the best markets in the United States should look no further than the Glendale Shopping Center.