701-711 Shotwell St
Houston, TX 77020
Shotwell Shopping Center · Retail Property For Sale

Marcus & Millichap is pleased to offer Shotwell Shopping Center for your consideration. This two building portfolio consists of approximately 32,390 net rentable square feet on the signalized hard corner of Shotwell and Lyons in Houston' s urban core. Opportunity lies in the fact that an investor can achieve above market returns by converting leases to full expense pass-through as well as leasing up the remaining 17,571 square feet of vacancy that exists. With vacancy at 54 percent and a pro-forma lease up to 95 percent, one can reasonably expect to yield a 29.38 percent cash-on-cash return. Shotwell Shopping Center is located in Houston's greater Fifth Ward. With very close access to both Downtown and the Medical Center, the area benefits from high accessibility afforded by Interstate 10 and Highway 59. Over 301,846 people live within a five-mile radius of the Property. With over $345 million in public and private investment planned, the Fifth Ward is seeing a variety of new developments including $5.7 million toward The DeLuxe Theater reopening, the new $16 million Atherton Elementary, the new $35 million Wheatley High School, as well as a new $8 million library. Additionally, Lovett Commercial recently secured the only privately remediated superfund site in the U.S., and along with other developers, plans to construct 538 single-family homes and townhomes just two miles southwest of Shotwell Shopping Center. Offered for $3,200,000, Shotwell Shopping Center is a well-located asset ideal for an investor looking for a diversified tenant mix in one of Houston' s most dynamic urban locales.