Due diligence on a commercial retail strip center

[Bueal George]

Does anyone have experience doing an windshield survey on a commercial property? How do you do one? Lets use a small retail center 2-6 tenants (vacant) in Rowlett,Texas (suburb of Dallas) as an example.

[Vic Reddy]

@Bueal George - I know this property in Rowlett. Rentals are very strong on Hwy 66 due to high traffic counts and proximity to Rockwall & George Bush Hwy. Rents are $20-$28/sqft NNN on Hwy 66.

Things to consider - 

1) Traffic counts ~23vpd, demographies and median income in 1-2 mile radius.

2) Dalrock Rd does not have much retail/office in this area (except near I30). Neighborhood stores like pizza store, convenience stores etc may work. Dry cleaner would be a good fit but there is one next door :(

3) Most likely you will have to renovate/re-model to suit multiple tenants. 

PM me and we can further discuss.