Kiest Polk Center | Dallas, TX
1150 West Kiest Boulevard, Dallas, TX 75224
Kiest Polk Center
This offering presents the opportunity for an investor to acquire Kiest Polk Shopping Center in Dallas, TX. Kiest Polk Shopping Center is a 61,608 square foot shopping center anchored by Save-A-Lot grocery store and Family Dollar. The center is currently 98 percent leased to a complimentary mix of national and local tenants, who are all on triple-net (NNN) leases.
Kiest Polk Center is positioned less than one-half mile from where Interstate 35 and Highway 67 merge, and is just minutes from downtown Dallas. The property has great ingress and egress with multiple access points from West Kiest Boulevard and South Polk Street. The area is extremely dense with over 312,000 residents within a five-mile radius of the subject property. Surrounding retailers in the area include Walmart Supercenter, Walgreens, McDonald's, Dollar General, AutoZone, Burger King, Sherwin-Williams, and many more.
Gross Leasable Area: 61,608 SF
Property Type: Retail
Property Sub-type: Strip Center
Property Use Type: Investment
Family Dollar Has Occupied the Shopping Center for Over 15 Years
Cap Rate: 8.76%
Year Built: 1959
Lot Size: 5.90 AC
Listing ID: 19475652
Dense Infill Location With More Than 312,237 Residents Within a Fie-Mile Radius
Priced Below Replacement Cost at $95.17 Per Square
98% Occupied - All Tenants Are On Triple-Net (NNN) Leases
8.76% Capitalization Rate on Actual In-Place Income
Save-A-Lot Has Occupied the Shopping Center for Over 20 Years and Recently Expanded Their Floor Space in Excess of 2,800 Square Feet
The Dallas-Fort Worth Metroplex is the largest metro area in Texas and the fourth largest in the United States. The Metroplex is home to over 6.3 million residents and has one of the nation's strongest job markets. The Metroplex led the nation in population growth over the last decade, adding approximately 1.3 million residents. The Dallas-Fort Worth Metroplex added approximately 126,037 residents from July 2010 to July 2011 and continues to be one of the fastest growing metro locations in the United States.