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North Lexington 727 E Louetta Rd 11,985 SF 100% Leased Retail Building Spring, TX 77373 $3,880,000 ($323.74/SF) 7% Cap Rate
Investment Highlights
- 2017 construction with all spaces built-out as second-generation retail, minimizing near-term capital expenditure.
- Majority of leases feature annual rent increases, with current rents slightly below market, providing built-in NOI growth at renewal.
- 100% leased to local, service-oriented tenants with established neighborhood brands and in-place rent payments.
- Strategic North Houston location near George Bush Intercontinental Airport, ExxonMobil’s corporate campus and Six Flags, Hurricane Harbor, etc
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
11,985 SF
Building Class
B
Year Built
2017
Price
$3,880,000
Price Per SF
$323.74
Cap Rate
7%
NOI
$271,600
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.89
Lot Size
0.31 AC
Parking
37 Spaces (3.09 Spaces per 1,000 SF Leased)
Frontage
163’ on Louetta Rd
Amenities
- Signage
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1373000010001 | Improvements Assessment | $2,739,625 |
| Land Assessment | $1,314,160 | Total Assessment | $4,053,785 |
Property Taxes
Parcel Number
1373000010001
Land Assessment
$1,314,160
Improvements Assessment
$2,739,625
Total Assessment
$4,053,785
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North Lexington | 727 E Louetta Rd
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