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38839 Spur 149 20.18 Acres of Commercial Land Offered at $12,500,000 in Magnolia, TX 77354
INVESTMENT HIGHLIGHTS
- Property Video https://www.youtube.com/watch?v=-rlERFam9es
- Located between The Woodlands and Magnolia on a hard corner
- ±925’ of frontage on Red Creek Circle
- Size: ±20.18 Acres; See Survey Link here https://colliershouston.s3.us-east-2.amazonaws.com/WoodlandsLandAdvisory/38839+Spur+149+Survey.pdf
- ±1,020’ of frontage on Spur 149
- Possible public utilities with annexation
EXECUTIVE SUMMARY
Colliers is pleased to exclusively offer an excellent opportunity to acquire a unique development site in the Path of Growth surrounded by substantial construction. The Property consists of ±20.18 acres and represents a covered-land opportunity with income from a long-time tenant and is shadow anchored by a new Lowe’s and H-E-B grocery store.
The Property is leased until 12-31-2027 on a NNN basis. Base Rent is $897,840 per year with CPI-U increases beginning 01-01-2025. Tenant has Right to Early Terminate with a 15-month Termination Notice (& other provisions).
Property Features
• Size: ±20.18 Acres
• Located between The Woodlands and Magnolia
• ±1,020’ of frontage on Spur 149
• ±925’ of frontage on Red Creek Circle
• Magnolia ISD
• Possible public utilities with annexation into City of Magnolia and/or either adjacent MUD.
• Unrestricted (until city annexation in place)
Lease Income
• $897,840 per year NNN
• Term thru 12-31-2027
• CPI-U rent increases began 1-1-2025
• 15-month notice required to trigger early termination
Property Video https://www.youtube.com/watch?v=-rlERFam9es
PROPERTY FACTS
| Price | $12,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Commercial |
| No. Lots | 1 | Total Lot Size | 20.18 AC |
| Property Type | Land | No. Stories | 1 |
| Zoning | 2 | ||
| Price | $12,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 20.18 AC |
| No. Stories | 1 |
| Zoning | 2 |
1 LOT AVAILABLE
Lot
| Price | $12,500,000 | Lot Size | 20.18 AC |
| Price Per AC | $619,425.17 |
| Price | $12,500,000 |
| Price Per AC | $619,425.17 |
| Lot Size | 20.18 AC |
• Size: ±20.18 Acres; See Survey Link above • Located between The Woodlands and Magnolia • ±1,020’ of frontage on Spur 149 • ±925’ of frontage on Red Creek Circle • Magnolia ISD • Possible public utilities with annexation • Unrestricted
DESCRIPTION
Property Offering Colliers is pleased to exclusively offer an excellent opportunity to acquire a unique development site in the Path of Growth surrounded by substantial construction. The Property consists of ±20.18 acres and represents a covered-land opportunity with income from a long-time tenant and is shadow anchored by a new Lowe’s and H-E-B grocery store. The Property is leased until 12-31-2027 on a NNN basis. Base Rent is $897,840 per year with CPI-U increases beginning 01-01-2025. Tenant has Right to Early Terminate with a 15-month Termination Notice (& other provisions). Property Features • Size: ±20.18 Acres • Located between The Woodlands and Magnolia • ±1,020’ of frontage on Spur 149 • ±925’ of frontage on Red Creek Circle • Magnolia ISD • Possible public utilities with annexation into City of Magnolia and/or either adjacent MUD. • Unrestricted (until city annexation in place) Lease Income • $897,840 per year NNN • Term thru 12-31-2027 • CPI-U rent increases began 1-1-2025 • 15-month notice required to trigger early termination
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,040 | |
| Land Assessment | $4,763,515 | Total Assessment | $4,766,555 |
PROPERTY TAXES
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38839 Spur 149
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