Mockingbird Retail

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Investment Overview

Marcus & Millichap is pleased to present Mockingbird Retail, a well-located portfolio of retail assets located at 5602 and 5606 East Mockingbird Lane in Dallas, Texas. The offering also includes the potential to acquire the adjacent duplex located at 5605 Winton Street, Dallas, Texas 75206. The retail offering consists of 6,925 contiguous square feet and features onsite parking as well as pole signage for maximum visibility along East Mockingbird Lane. The subject property is currently owner-occupied and shall be available vacant after a short-term leaseback after the sale.

This prime location along Mockingbird Lane allows a new owner the opportunity to be situated in the center of a strong retail corridor, directly proximate to several high-income demographic submarkets in the city of Dallas. Mockingbird Lane runs westward from Buckner Boulevard and connects to several major highways in Dallas, including North Central Expressway and the Dallas North Tollway. This major thoroughfare connects directly to areas such as Greenville Avenue, Mockingbird Station, Southern Methodist University, Highland Park, and Dallas Love Field Airport. The subject property is located in the eastern half of Mockingbird Lane, which features extremely strong demographics, boasting an average household income exceeding $156,000 within a one-mile radius. This prime access allows a new property owner to opportunity to benefit from the proximity to major retailers, strong demographics, and convenient travel throughout the metroplex. These advantages strongly-position the asset to be a premiere retail destination for years to come.

The Dallas-Fort Worth metroplex has been widely recognized as one of the top performing commercial real estate markets in the United States. The metroplex boasts the fourth-most populous metro in the nation, with over 7.9 million residents throughout. Between 2022 and 2027, the city of Dallas' population is estimated to increase 3.9 percent, with the average household income anticipated to grow by 12,4 percent. The city's largest employment sectors include healthcare, manufacturing, and logistics. There are currently 49 Fortune 1000 companies located in the Dallas-Fort Worth metroplex, and as of 2023, the metroplex ranks number three in the United States for highest number of Fortune 500 companies, with 24. Factors such as the strong corporate environment, no state income tax, and relatively low cost of living, have continued to drive new residents to the metroplex year over year. With the surge of new residents, retail demand has been at an all-time high in the metroplex for the ability to service the increased population. In 2023, Dallas-Fort Worth experienced a record-high 95.2 percent occupancy in the retail market. With rising construction costs, and very few new project starts, high demand and occupancy continues to drive rental rates and property values in the retail sector of the metroplex.

Overall, Mockingbird Retail offers an extremely high barrier-to-entry retail asset, centrally located along a strong retail corridor and proximate to several major high-income demographic submarkets. The 6,925-square-foot retail asset and adjacent duplex, provide new owner the opportunity to be strongly positioned in a thriving neighborhood, full of retail and restaurant establishments, with high visibility and on-site parking. The retail assets along Mockingbird Lane are zoned Community Retail (CR) and the duplex on Winton Street is zoned Duplex District D(A).