Historical Retail Sale Listing - 14.62% CAP | I-45 & W. Mt. Houston Center

Retail For Sale

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

608 West Mount Houston Rd., Houston, TX 77037

N/A

9,178 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
9,178 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Additional Sub-types:
Free Standing Bldg
Street Retail
Retail (Other)
Property Use Type:
Net Lease Investment with
3 years left on lease
Commission Split:
3%
Cap Rate:
14.62%
Occupancy:
76%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1975
Lot Size:
40,763 SF
Listing ID
16176706
Last Updated
over 1 year ago

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

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.

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

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Created 4/1/2009