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1998 Katy Mills Blvd
Katy, TX 77494
STARBUCK CENTER AT KATY MILLS BLVD · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Four Tenant Strip Center Featuring a Drive-Through Starbucks, Wing Stop, Sports Clips, and Lovett Dental
- The Center is located on the corner of the Interstate 10 Feeder Road and Katy Mills Blvd., Fronting the I-10 Freeway.
- High Growth Demographics.
- All Long Term Seasoned NNN Leased Tenants
- Convenient to Nearby Master Planned Residential Developments, Medical and Office Properties.
- Close Proximity to Katy Mills Mall & Marriott Suites.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer for sale a great opportunity to purchase a well located shopping strip center in Katy, Texas. The property consist of four nationally recognized tenants: Starbucks, Wing Stop, Sports Clips, and Lovett Dental. The property also boasts a drive thru for the Starbucks which is located on the end cap. All leases are Triple Net Leases which account for recapture of operating expenses. The property is ideally located on the corner of the Interstate 10 feeder road and Katy Mills Blvd, fronting the 1-10 Freeway. In addition, the property is located in close proximity to the Katy Mills Mall and the Marriott Suites.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,290 SF
Building Class
B
Year Built
2006
Price
$3,558,000
Price Per SF
$565.66
Cap Rate
6.11%
NOI
$217,492
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
1.29 AC
Zoning
None
Parking
67 Spaces (10.65 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Freeway Visibility
PROPERTY TAXES
| Parcel Number | 1199120010002 | Improvements Assessment | $514,555 |
| Land Assessment | $1,940,960 | Total Assessment | $2,455,515 |
PROPERTY TAXES
Parcel Number
1199120010002
Land Assessment
$1,940,960
Improvements Assessment
$514,555
Total Assessment
$2,455,515
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