817-228-4247
505-521 N Stewart St, Azle, TX for Sale
Storefront Retail/Office - FOR SALE
1/9
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505-521 N Stewart St
Azle, TX 76020


HIGHLIGHTS

  • 100% Leased Property: Fully occupied with stable cash flow, providing immediate income for investors.
  • Below-Market Rents: Significant upside potential as current tenant rents are below market rates, creating opportunities for value-add strategies.
  • Anchor Tenant Commitment: Brookshire’s, a prominent anchor tenant, has invested approximately $3,000,000 in facade improvements
  • Value-Add Opportunities: Lease Repositioning and Enhanced Tenant Mix
  • Strong Fundamentals: Retail Destination and Stable Market Submarket

OVERVIEW

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.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

144

LAND DETAILS

LAND ACRES

4.1 AC

LAND SF

178,596 SF

ZONING

-

APN/PARCEL ID

05582776,05582989

ASK ABOUT THIS PROPERTY

Sarah LanCarteLanCarte Commercial Real EstateMore Info
817-228-4247

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Sarah LanCarteLanCarte Commercial Real EstateMore Info
817-228-4247

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.