18039 FM 529 Rd
Cypress, TX 77433
Retail Property For Sale

DESIRABLE LOCATION This shopping center is situated in a favorable retail location due to its proximity to other retailers, commercial uses, as well as residential/multifamily developments. The neighborhood is densely populated by single family homes and the property is located directly across the street from a retail development including tenants such as Kroger, T Mobile, Subway, and GNC. Other nearby tenants include Chase Bank, Wendy’s, and Exxon. GROWTH OF RETAIL SUBMARKET The Far Katy North retail submarket has seen effective rents improve for three straight years and is expected to continue to increase for years to come. Additionally, demand in the submarket has remained strong for the last decade and continues to remain positive and the vacancy rate is low, currently at 4.7%. STRONG DEMOGRAPHICS Houston incomes are above the metro average at $83,300 and Property-area incomes are also elevated at $88,500 within a 5-mile radius. This market generally has a well-educated and affluent population. Over the last 15 years, population in the 5-mile radius has more than doubled and is forecast to grow 2.2% annually through 2020. VALUE-ADD OPPORTUNITY The property is 100% occupied by3 tenants with new leases, 2 of them expiring in 2020. An investor can capitalize on purchasing an asset with consistent income as well as have the opportunity to create value by leasing the vacancy, renew the units at higher rates, or occupy themselves as an owner-user.