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

$1,295,000

15,750 SF | Retail

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Price:
$1,295,000
Gross Leasable Area:
15,750 SF
Price/SF:
$82.22
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:
70%
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
26 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

Vacancies fast disappearing - 3 new leases now 80% occupancy. 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. Financed through Standard Ins. Company will give very competitive rates or assume existing loan.

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 designated 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

  Mar 14 vs. 3 mo.
prior
Y-O-Y
-
State
$127+0.0%+6.0%
-
Metro
$146+1.7%+9.1%
-
County
$151+0.6%+10.0%

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
  • $1,295,000
  • 15,750 SF