9107 Fm 723 Rd
Richmond, TX 77406
Retail Property For Sale

The offering provides an opportunity for an investor to acquire a new construction, fully occupied, trophy retail strip center in a high-growth Houston suburb. The subject property is leased by three strong, service-based tenants. Two of the tenants, Blue Lion Salon Suites and Lapels Dry Cleaning occupying 88.25% of the total square footage, are on brand new ten-year leases and Kumon Learning Center is on a new five-year lease. All three tenants are on NNN leases with tenants reimbursing for all operating expenses. The retail market is a densely populated, affluent Houston suburb with average household incomes exceeding $167,000 within a three-mile radius. The property is located next to Westheimer Lakes, a 592-acre master-planned community with approximately 1,800 housing units, tennis courts, volleyball courts, walking trails, and a beach-entry splash pool. There is a new master-planned community under construction across from the subject property.