This Retail Property is Off-Market.

30502-30526 Tomball Parkway
Tomball, TX 77375 ·

15,750 SF · Retail For Sale

N/A

Print

University Plaza- High Traffic Location!

Price N/A Cap Rate 7.50%
Gross Leasable Area 15,750 SF No. Stories 1
Property Type Retail Tenancy Multiple
Property Sub-type
Strip Center
More...
  • Restaurant
  • Retail (Other)
Year Built 1984
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

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.

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

Research

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

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

Tomball Market Trends - Asking price index trends, sale price trends, asking rent trends

Similar Listings

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

I am a place holder, please don't judge me!!! (no, I judge you!)