608 West Mount Houston Rd.
Houston, TX 77037 ·
9,178 SF · Retail For Sale
14.62% CAP | I-45 & W. Mt. Houston Center
|Gross Leasable Area||9,178 SF||Occupancy||76%|
|Property Type||Retail||No. Stories||1|
|Property Use Type||Net Lease Investment with 3 years left on lease||Year Built||1975|
|Commission Split||3%||Lot Size||40,763 SF|
|Listing ID: 16176706||Date Created: 04/01/2009||Last Updated: 03/20/2010|
Marcus & Millichap, as exclusive agent for the Seller, is pleased to present this multi-tenant retail investment located at 608 W. Mount Houston Rd. in Houston, TX. This property features approximately 9,178 square feet of space occupying a prominent lot adjacent to the north-bound lanes of I-45.
The subject is offered for sale for $975,000 at a 14.62% Cap Rate on Year 1 NOI. The Avg. HH Income within 1 mile is $51,687. The population growth has increased 7.84 % since the year 2000 and is expected to increase 5% five years from now.
The property is located in the densely populated submarket of north central Houston. The center is occupied with a local tenant mix of beauty, physical therapy, and entertainment. This location also offers a strategic location due to its proximity to a thriving blue collar market, a high concentration of other businesses, and ease of access to & from major traffic arteries and highways.
- 9,178 SF Shopping Center / 40,763 SF Parcel
- NNN Leases
- Interstate 45 Visibility
- Strong Pop. Demographics (293,773 - Five Mile)
- Quality Concrete Block Construction
- 14.62% Cap Rate
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