SAN ANGELO, TX — The Glenmore Shopping Center, a multi-tenant retail property located at 111 Paint Rock Road, is now available for purchase at $1,123,000.
The property, which spans 15,793 square feet, is currently 74% leased and offers a 10% capitalization rate.
The shopping center, built in 1962 and renovated in 2023, boasts several recent upgrades, including an improved parking lot, updated facade, and new LED lighting. Located at the intersection of Christoval Road and Paint Rock Road, the property includes 50 parking spaces and offers 486 feet of frontage along Paint Rock Road.
The listing highlights the potential for additional income, with some leases below market rates and an option for the seller to lease back any vacant spaces for a one-year term, maintaining the 10% CAP rate. The center is zoned for general commercial use and is situated on 0.80 acres.
The property’s assessed value is $355,510, with $294,800 attributed to improvements.
Interested parties can contact Brandon Sanders of Eustis Co. Realtors for more information.