Northlake Commons Building 7

Marcus & Millichap is pleased to exclusively present for sale Northlake Commons Building 7, located at 1234 FM 407 in Northlake, Texas. Northlake Commons Building 7 was built in 2021 and features 10,216 square feet of Class A leasable area. This retail center is structured as a condo within the greater Northlake Commons development that spans 10.89 acres at a main entrance of the Harvest by Hillwood master planned community. The Subject Property offered for sale owns a 9.56 percent share of the 10.89-acre plot of land.

Northlake Commons Building 7 is offered for sale for $4,741,444, which is a 6.65 percent year one CAP Rate. The asset value and its cash flow will appreciate each year due to leases structured with 2 percent annual rent escalations. The Weighted Average Lease Term across the tenancy is 62 months.

Northlake Commons Building 7 features a diverse mix of internet-resistant tenants on long-term, triple net leases. Uses at the center include medical, fitness, and dining. Tenants at Northlake Commons Building 7 have positioned themselves in this shopping center to capitalize on the booming growth continuing to happen in this market. In 2022, Northlake/Argyle saw an increase in population of greater than twenty percent.