30502-30526 Tomball Parkway, Tomball, TX, 77375 - Available for Sale

Retail For Sale

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University Plaza- High Traffic Location!

30502-30526 Tomball Parkway, Tomball, TX 77375

$1,195,000

15,750 SF | Retail

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Retail Property For Sale

Price:
$1,195,000
Gross Leasable Area:
15,750 SF
Price/SF:
$75.87
Property Type:
Retail
Property Sub-type:
Strip Center
Additional Sub-types:
Restaurant
Retail (Other)
Property Use Type:
Investment
Commission Split:
4%
Cap Rate:
7.50%
Occupancy:
64%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1984
Lot Size:
40,317 SF
APN / Parcel ID:
112-957-000-0073
Listing ID
16477846
Last Updated
3 days ago

Find Out More...

Highlights

  • 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

Description

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.

Financial Summary

Major Tenant Information

Debt & Equity Information

  • Actual
  • 2012
  • $104,256
  • $102,156
  • $36,000
  • $66,156
  • $66,156

Map of 30502-30526 Tomball Parkway, Tomball, TX 77375 (Harris County)

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Asking Price Index Trends for Tomball, TX Retail For Sale

  Jun 14 vs. 3 mo.
prior
Y-O-Y
-
State
$132+3.5%+5.9%
-
Metro
$151+3.6%+10.3%
-
County
$154+2.4%+7.1%

View Tomball Market Trends for other property types for sale or lease. Learn more about the chart info.

Created 11/18/2009
University Plaza- High Traffic Location!
  • Retail
  • $1,195,000
  • 15,750 SF