18438 Highway 105 W
Montgomery, TX 77356
Palms Plaza · Retail Property For Sale

Marcus & Millichap is pleased to announce Palms Plaza Shopping Center for acquisition. The property consists of a 9,375 square foot property situated on 36,000 square feet of land along the heavily trafficked Texas Highway 105. Developed in 2003, this center has excellent ingress and egress for vehicular traffic along Highway 105 West on the north side. Traffic counts are immense at over 30,000 vehicles per day. The average household income in the area boasts growth, surpassing $120,000. Conroe, Texas was the fastest growing city in the U.S. last year with the population increasing by 7.8 percent, a growth rate 11 times higher than the national average. Grand Central Park, a 2,000 plus acre master planned community, is currently under construction at the southwest corner of I-45 and Loop 336, formerly the Boy Scouts of America’s Camp Strake. Lake Conroe, a 21,000 acre lake located in Montgomery County, offers many activities for residents and visitors alike. An assortment of golf courses and tennis courts provide amenities for the sports lovers. The lake’s close proximity to 160,000 acres of national forest land and towering pines offers activities for nature lovers and outdoor enthusiasts including hiking, biking, hunting and much more. The beautiful lake itself is fantastic for those who enjoy fishing, swimming and jet skiing. The plethora of docks and marinas provide additional boating activities for water lovers including water skiing and wakeboarding to relaxing lake leisure. The property is near April Sound, a 980 plus acre community consisting of 1,815 single family properties (2017), 37 single family condos (2017), and a country club that features a 27 hole golf course, 12 tennis courts (4 covered) and more. The community of Walden on Lake Conroe is nearby as well sitting on approximately 2,000 acres that consists of over 5,000 dwellings of single family homes, townhouses, patio homes and condominiums. Amenities of the community include two boat ramps, the Walden Racquet Club, Walden Fitness Center, and Walden Yacht Club, in addition to a privately owned golf course and marina. Rental rates range from $11.00 per square foot to $14.40 per square foot plus NNN, well below projected future average rents which bodes for tremendous future growth. Conroe’s rapid growth provides investors the opportunity to acquire a property with a very bright future and increased value.