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Allendale Plaza 5455 Allendale Rd 19,175 SF 100% Leased Retail Building Houston, TX 77017 $2,750,000 ($143.42/SF) 6.18% Cap Rate
Investment Highlights
- 100% Occupied | Rents 20–35% Below Market with Near-Term Rollover – Allendale Plaza is fully occupied across seven tenants
- 4 Miles from William P. Hobby Airport | Major Southwest Airlines Hub – The center benefits from additional consumer demand generated by airport
- 335,000+ Residents Within 5 Miles | Growing Southeast Houston Trade Area – Situated in the heart of Meadowbrook-Allendale
- Needs-Based Tenant Mix – Recession and Internet Resistant Seven tenants across medical, food service, wellness, and neighborhood convenience
Executive Summary
Broker of Record
Patrick Graham
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Rishi Idnani & Connor Olandt (in conjunction with Matthews™, a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code)
Patrick Graham
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Rishi Idnani & Connor Olandt (in conjunction with Matthews™, a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
19,175 SF
Building Class
B
Year Built
2005
Price
$2,750,000
Price Per SF
$143.42
Cap Rate
6.18%
NOI
$169,950
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
1.65 AC
Zoning
None
Parking
100 Spaces (5.21 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Latino Med
- -
- -
- -
- -
- -
- ProMeals
- Services
- -
- $12.00
- Modified Gross
- Aug 2022
- Washateria
- Retailer
- -
- -
- Triple Net
- Feb 2020
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Latino Med | - | - | - | - | - | |
| ProMeals | Services | - | $12.00 | Modified Gross | Aug 2022 | |
| Washateria | Retailer | - | - | Triple Net | Feb 2020 |
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1228230010001 | Improvements Assessment | $1,531,250 |
| Land Assessment | $359,980 | Total Assessment | $1,891,230 |
Property Taxes
Parcel Number
1228230010001
Land Assessment
$359,980
Improvements Assessment
$1,531,250
Total Assessment
$1,891,230
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