This Retail Property is Off-Market.

608 West Mount Houston Rd.
Houston, TX 77037 ·

9,178 SF · Retail For Sale

N/A

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14.62% CAP | I-45 & W. Mt. Houston Center

Price N/A Cap Rate 14.62%
Gross Leasable Area 9,178 SF Occupancy 76%
Property Type Retail No. Stories 1
Property Sub-type
Strip Center
More...
  • Free Standing Bldg
  • Street Retail
  • Retail (Other)
Tenancy Multiple
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

Description

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.

Highlights

  • 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

Research

608 West Mount Houston Rd., Houston, TX 77037 (Harris County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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