6960 FM 1488 Rd
Magnolia, TX 77354
Bellagio Plaza · Retail Property For Sale

Marcus & Millichap is pleased to offer Bellagio Plaza for your consideration. Consisting of a 27,616 square foot shopping center on a large 2.71 acre parcel, the Property fronts on heavily traveled Farm to Market 1488, approximately seven miles west of Interstate 45. The Property is 100 percent occupied by a variety of popular local and regional tenants positioned to serve the affluent neighborhood' s retail demand. An investor may realize upside through renewing leases at market rates and can reasonably expect to yield over a ten percent pro forma capitalization rate. There is also a pad site available to develop. The Property' s proximity to The Woodlands and Interstate 45 affords it prime exposure to dense vehicle traffic and the rapidly increasing daytime population surrounding the Property. Additionally, Farm to Market 1488 recently expanded to a five lane thoroughfare. Bellagio Plaza benefits from a submarket with high barriers to entry and holds a premium position as growth continues to blossom along FM 1488 and in the immediate area. Prominent retailers in the vicinity include Target, Kroger, Home Depot, Ross, TJ Maxx, PetSmart, Famous Footwear, OfficeMax and Gold' s Gym. Most notably, H-E-B just built its first Magnolia location less than one mile to the west of the Property. Indeed, Woodforest, a 5,500-home master planned development is just north of FM 1488 on Honea Egypt Road.