This Retail Property is Off-Market.

3702 FM 1960 West
Houston, TX 77068 ·

50,971 SF · Retail For Sale

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Olde Oaks Shopping Center

Price N/A Occupancy 88%
Gross Leasable Area 50,971 SF No. Stories 1
Property Type Retail Tenancy Multiple
Property Sub-type
Neighborhood Center
More...
  • Street Retail
Year Built 1983
Property Use Type Investment Lot Size 2.82 AC
Commission Split 1.5% APN / Parcel ID 1085610000220
Cap Rate 8.50% Parking Ratio 3.80 / 1,000 SF
Listing ID: 14629503 Date Created: 05/19/2006 Last Updated: 06/26/2006

Description

Olde Oaks is a 50,971 Sf shopping center built on 2,8259 acres of land. It is located in Houston, Texas at the intersection of FM 1960 West and Walters Road. FM 1960, a 7-lane highway, is the primary East/West commercial corridor in North Houston. It has undergone major improvements to accomodate higher traffic volumes. University of Houston economics professor Barton Smith completed a study of this Cy-Fair/Northwest corridor that indicate the area is going to have the highest population growth capture rate of all submarkets in the Houston Metropolitan Area; increasing its population to 1 million by 2020, up from just 600,000 currently.

Located at the signalized intersection and hard corner of FM 1960 and Walters Road, accessibility is provided by two entrances into the center via FM 1960 and Walters Road. From a mobility standpoint, northwest Houston is ready to accommodate substantial residential and commercial growth. The area offers some of the best schools in the state, any many residents have chosen to locate their businesses in the neighborhood as well. The wooded beauty of the north Houston region is a major factor in the area's popularity. Restaurants, large malls, individual stores and smaller shopping centers provide all that local residents require and need. The quality of life in the northwest Houston region is fostered by numerous cultural, recreational and health facilities and activities. Notwithstanding all its recent growth, the area can be expected to prosper for many years to come.

Highlights

  • 56,000 cars per day traveling across intersection
  • 94,086 Population within a 3 mile radius
  • Signalized intersection-FM 1960 West & Walters Rd.
  • Neighborhood tenants that cater to needs of the local trade area
  • Projected population growth of 8.59% over the next five years in 3 mile radius
  • Available for new market financing

Research

3702 FM 1960 West, Houston, TX 77068 (Harris County)

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