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Fairmont Parkway Shopping Center 4 Properties Offered at $24,900,000 in Pasadena, TX
INVESTMENT HIGHLIGHTS
- Immediate upside through the lease-up of the remaining multi-tenant end cap vacancy with drive-thru potential as well divestiture opportunities
- Desirable stable income stream featuring a weighted average lease term of 7.52 years
- Pasadena is considered a worldwide center for the energy, petrochemical and aerospace industries
- Synergistic mix of national, regional, and local tenants strategically curated to meet the demands of the surrounding high density trade area
- Positioned within a long-standing and top-performing retail hub, which consistently pulls visitors beyond a 20-mile radius
- Prominent frontage and access along Fairmont Parkway with immediate proximity to Beltway 8, provides exposure to nearly 150,000 cars per day
EXECUTIVE SUMMARY
Unique 172,002 SF neighborhood center features a fully occupied large format retail building, two multi-tenant retail buildings and two fully leased pad sites, all offered at an attractive basis. Property offers immediate upside through the lease-up of the remaining multi-tenant end cap vacancy with drive-thru potential as well numerous long-term value-add and divestiture opportunities.
PROPERTY FACTS
| Price | $24,900,000 | Number of Properties | 4 |
| Price / SF | $141.16 / SF | Individually For Sale | 0 |
| Cap Rate | 8.65% | Total Building Size | 176,401 SF |
| Sale Type | Investment | Total Land Area | 21.87 AC |
| Status | Active |
| Price | $24,900,000 |
| Price / SF | $141.16 / SF |
| Cap Rate | 8.65% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 176,401 SF |
| Total Land Area | 21.87 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 5950 Fairmont Pkwy, Pasadena, TX 77505 | Retail | 159,325 SF | 1992 | - |
| 5932 Fairmont Pkwy, Pasadena, TX 77505 | Retail | 8,400 SF | 1992 | - |
| 5940 Fairmont Pky, Pasadena, TX 77505 | Retail | 4,332 SF | 2007 | - |
|
Mister Car Wash
5964 Fairmont Pky, Pasadena, TX 77505 |
Specialty | 4,344 SF | 2007 | - |
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Fairmont Parkway Shopping Center
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