This Houston Shopping Center is a 13,544 square foot retail center situated on a 29,751 square foot parcel at the intersection of 2 Main Streets in Houston, Texas, and has a 9% Cap at $75,000 Net Operating Income.
The center is 100% occupied by four local area tenants signed to triple net (NNN) leases, reimbursing the owner for operating expenses. Rents are all under market, allowing for future upside.
The property is highlighted by its strong retail fundamentals, such the center’s small, easy to lease spaces, shallow bay depth, reinforced concrete construction, two egress/ingress points, and excellent visibility
NEED MORE INFORMATION: SIGN commission protection agreement
Net Operating Income: $75,000 Annually
Type 2 Star Retail (Strip Center)
GLA 17,700 SF
Stories 1
Typical Floor 17,700 SF
Docks 2 ext
Construction Reinforced Concrete
Year Built 1983
Tenancy Multi
Owner Occup No
Elevators 0
Parking 18 free Surface Spaces are available; Ratio of 1.03/1,000 SF
Taxes$1.12/SF (2016)
Opex$1.15/SF (2011)
Land Acres 0.68 AC
Bldg FAR 0.59
Land SF 29,751 SF
Dimensions 165′ x 180′
|
1 Mi |
3 Mi |
Population
|
21,928
|
144,617
|
Households
|
7,044
|
43,340
|
Average Age
|
32.90
|
32.70
|
Median HH Income
|
$35,650
|
$39,552
|
Daytime Employees
|
6,212
|
44,620
|
Population Growth ’17-’22
|
|
|
Household Growth ’17-’22
|
|
|
You must be logged in to post a comment.