Historical Retail Sale Listing - University Plaza- High Traffic Location!

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University Plaza- High Traffic Location!

30502-30526 Tomball Parkway, Tomball, TX 77375

N/A

15,750 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
15,750 SF
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%
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
4 days ago

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.

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

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