30502-30526 Tomball Parkway
Tomball, TX 77375 ·
15,750 SF · Retail For Sale
University Plaza- High Traffic Location!
|Gross Leasable Area||15,750 SF||No. Stories||1|
|Property Use Type||Investment||Lot Size||40,317 SF|
|Commission Split||4%||APN / Parcel ID||112-957-000-0073|
|Listing ID: 16477846||Date Created: 11/18/2009||Last Updated: 10/27/2014|
Cap rate goes to 10.4% when filled, even at current below market rents.
15,750 foot center in very good condition. Fully remodeled in 2007 with new E.F.I.S. facade, with rock finished columns and lighting at a cost of $175,000 plus $160,000 for the former Prudential Gary Greene interior build-out. Note that Prudential Gary Greene is not longer there, but we have a church renting in the same location now. Financed through Standard Ins. Company. Please assume existing loan at 6 3/8's to avoid payoff penalty. Can pay it off in 4 years with no penalty however. Loan is now just over $800,000
1.5 miles North of Tomball (near Houston), and across from Tomball Community College. At a corner with a light for Highway 249. This locale is beyond the Tomball by-pass, so it is experiencing growth and interest now. Highway 249 is being improved as a future Freeway - has 35,000 cars per day.
- Assumable Loan of $875K @ 6.375%
- Anchor tenants are a church and a Mexican Restaurant
- Across the street from Tomball Community College- About 20,000 Students
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