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Forum at Soncy Pad, Amarillo, TX

Forum at Soncy Pad

Amarillo, Texas

Price $3,280,000
Cap Rate 6.65%
NOI $218,028
Lease Term Various
Lease Type Net Leases, with Tenants Responsible For All Taxes, Insurance, and Maintenance, Excluding Roof and Structure
Rental Increases Various
Year Built 2007
Building Size 6,977 SF
Lot Size 1.03 Acres (44,867 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Investment Highlights

100% LEASED MULTI-TENANT RETAIL-ASSET WITH SCHEDULED RENTAL INCREASES
» 100% leased multi-tenant retail asset featuring iconic corporate tenants
» Multi-tenant asset allows for investment diversification
» Scheduled rental increases for all leases, providing a hedge against inflation
» Complimentary mix of “Amazon-proof” retailers
» Located in a state with no income tax

LOCATED IN A DENSELY POPULATED, AFFLUENT, AND GROWING TEXAS CORRIDOR
» High-visibility and easily accessible location along State Route 335/South Soncy Road (27,161 AADT)
» Immediate access to highly trafficked Texas thoroughfares, including Southwest 34th Avenue and Interstate 40 (combined 112,009 AADT)
» Population of 118,072 within a five-mile radius of the location, creating an extremely large customer base for the site
» Average annual household income of $99,638 within one mile of the site
» Projected 10 percent average annual household income increase within five-miles of the site in the next five years, poising Forum at Soncy Pad and Amarillo for concurrent growth

CENTRAL LOCATION NEAR MAJOR EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to a Cost Plus World Market-Anchored shopping plaza, attracting significant crossover shopping to the location
» Surrounded by a strong mix of local and national retailers, including T.J. Maxx, American Freight, JCPenney, Dillard’s, Hibbett Sports, McDonald’s, Starbucks, and many more
» Two miles from BSA Hospital, one of the largest employers in Amarillo (378 beds, 3,400 employees)
» Surrounded by high-density single-family housing developments and large apartment complexes
» Seven miles from Downtown Amarillo, which is considered the regional economic center for the Texas Panhandle



Property Description

The site is conveniently placed in a high-visibility and easily accessible location along State Route 335/South Soncy Road (27,161 AADT). The property has immediate access to highly trafficked Texas thoroughfares, including Southwest 34th Avenue and Interstate 40 (combined 112,009 AADT). The site is located in a densely populated area, with a population of 118,072 within a five-mile radius of the location, creating an extremely large customer base for the site. With a projected 10 percent average annual household income increase within five miles of the site in the next five years, Forum at Soncy Pad and Amarillo are poised for significant concurrent growth.

The property is an outparcel to a Cost Plus World Market-Anchored shopping plaza, attracting significant crossover shopping to the location. Visibility is increased by the site’s location surrounded by a strong mix of local and national retailers, including T.J. Maxx, American Freight, JCPenney, Dillard’s, Hibbett Sports, McDonald’s, Starbucks, and many more. The property is two miles from BSA Hospital, one of the largest employers in Amarillo (378 beds, 3,400 employees). The site is surrounded by high-density single-family housing developments and maintains a beneficial proximity seven miles from Downtown Amarillo, which is considered the regional economic center for the Texas Panhandle.

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