114-154 Fairmont Pky | Pasadena, TX 77504
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- LoopNet Team
114-154 Fairmont Pky
Pasadena, TX 77504
Fairmont Junction · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Hispanic Grocery Anchored - 42,130 SF El Rancho accounts for 36% of rental revenue
- Established Sub-Anchors within Local Community - Weighted Average Tenure of 9.7 years across Sterling Banquet, Family Dollar, and Dollar Tree
- Potential for Additional Upside via Pad Development - Opportunistic site on the hard corner of Fairmont Pkwy & Shaver
- Demographics Drive Value - El Rancho anchors Fairmont Junction in an 80.1% Hispanic neighborhood
- Significant Growth via 14.51% Mark-to-Market Opportunity -49% increase to NOI from mark-to-market & vacancy lease up lifts the going in cap rate 3.45%
PROPERTY FACTS
Property Type
Retail
Property Subtype
Storefront
Building Size
116,898 SF
Building Class
C
Year Built
1982
Percent Leased
82%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.35
Lot Size
7.60 AC
Zoning
None
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 1323500010003 | Improvements Assessment | $6,691,513 |
| Land Assessment | $1,324,276 | Total Assessment | $8,015,789 |
PROPERTY TAXES
Parcel Number
1323500010003
Land Assessment
$1,324,276
Improvements Assessment
$6,691,513
Total Assessment
$8,015,789
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