30-36 Lack Ln
Clute, TX 77531
Plantation Center · Retail Property For Sale

Lack Lane is an established retail center in Clute, Texas, currently 95% occupied by eleven tenants. Anchor tenant Bel Furniture, headquartered in Houston, has15 locations throughout Texas with plans to add more locations in the near future. The property has easy and direct access to both Plantation Drive and Dixie Drive, and is surrounded by established retailers and large residential communities. Over the past five years the Landlord has diligently and strategically renovated the exteriors and common areas,and invested in tenant improvements to space interiors. The property is currently in good condition with a complimentary mix of diverse tenants. The site location is less than one mile from Hwy 288, the primary highway from Houston to the Gulf Coast. Lack Lane is also less than one mile from the main entrances of Dow Chemical and BASF's massive industrial facility. The investment offers an attractive cap rate of 8%. In addition, most of the rental rates are below market with periodic rental rate increases, providing for increased potential returns in the initial few years of the investment while continuing to build value over time.