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The Crossing 6039 Precinct Line Rd 69,193 SF 97% Leased Retail Building North Richland Hills, TX 76180 $19,085,000 ($275.82/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- The Crossing is a 100% occupied strip center, shadow co-anchored by Kroger and Kohl’s
- Daiso’s new 10 year lease encumbers four previous units, combined into a new single junior anchor spac
- The Crossing is ideally situated at the confluence of Grapevine Highway (22,305 VPD) and Precinct Line Road (30,349 VPD)
- The subject property has benefited from excellent recent leasing momentum, with 4 new tenant leases at the center, including a new 10-year lease
- In addition to the positive new leasing momentum, current ownership has recently signed five renewals or early extension
- North Richland Hills is one of the largest suburbs in Tarrant County, with a strong residential base and a well-developed commercial corridor
EXECUTIVE SUMMARY
The subject property is a 100% occupied strip center in a highly affluent trade area with average household incomes of $132,000 in a 1-mile radius. Shadow anchored by Kroger and Kohl's, The Crossing welcomes more than 2.6 million annual visitors (Placer.ai). Excellent visibility at the hard corner of Precinct Line Road and Grapevine highway with combined traffic counts of 52,650 VPD.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
69,193 SF
Building Class
B
Year Built
2001
Price
$19,085,000
Price Per SF
$275.82
Cap Rate
6.65%
NOI
$1,269,136
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.51
Lot Size
3.09 AC
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Educational Services
- -
- -
- Triple Net
- Jul 2025
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- Fat Burger
- Retailer
- -
- -
- -
- -
- Fatburger
- Accommodation and Food Services
- -
- -
- -
- -
- Gimms Barber
- Retailer
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Educational Services | - | - | Triple Net | Jul 2025 | |
| Fat Burger | Retailer | - | - | - | - | |
| Fatburger | Accommodation and Food Services | - | - | - | - | |
| Gimms Barber | Retailer | - | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07385617 | Improvements Assessment | $4,176,408 |
| Land Assessment | $1,075,592 | Total Assessment | $5,252,000 |
PROPERTY TAXES
Parcel Number
07385617
Land Assessment
$1,075,592
Improvements Assessment
$4,176,408
Total Assessment
$5,252,000
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The Crossing | 6039 Precinct Line Rd
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