Highlights

• 8,425 SF Shopping Center / Built in 2000
• Fiesta Mart Shadow Anchored
• 8.6% CAP / 10.0% Cash on Cash

• High Traffic Counts; 22,000 cars per day
• Northeast Houston Market
• Best Tenant Mix / Dominant Retail Development in Trade Area

Description

Marcus & Millichap is pleased to offer for sale the Mesa Tidwell Shopping Center, a 8,425 SF pad site retail property located just off southwest corner of Tidwell and Mesa Road in Houston, Texas. The center is shadow anchored by a 64,120 SF Fiesta Mart. The Fiesta is the anchor of a 99,600 SF center that is almost fully leased. The subject was built in 2000 on .76 acre. It has cross access easement agreements with the much larger shopping center parcel that contains Fiesta. Fiesta Mart which has 50 locations in Texas, 34 of which are in Houston. The Fiesta Company owns the entire 99,600 SF Shopping Center but does not own the subject. In a market where so many grocers have gone dark to relocate this should provide some assurance that Fiesta is in this location for the long-term. Tenants in the shopping center are Blockbuster, Amco Insurance, South Texas Dental and Watermill Express. Average rents in the center are $18.25 NNN. The current CAP rate is 8.6% and the Cash on Cash is 9.0%. The property is 100% occupied.

Mesa / Tidwell Shopping Center is a well-positioned 8,425 SF multi tenant shopping center located in the northeast quadrant of Houston, Texas. This center is just off the hard corner of the intersection next to an Exxon station. It is shadow anchored by a 64,120 SF Fiesta Mart Grocery Store which is part of a 99,600 retail property. Fiesta is the dominant grocer in this trade area and owns the entire shopping center with the exception of the subject. The property is located on the southwest corner of Mesa Road and Tidwell. Mesa Road is currently under construction and being widened to expedite traffic flow. In addition, a new construction center is under development directly across the street.