10 cap anuj

This Houston Texas shopping center is at 93% Occupancy and has a annual cap rate of $27K Net Operating Income.  It is located on a very busy main street in Houston, TX, with 4 lanes.  Long term tenants in place and tenants plan on resigning a new lease to extend.

rent roll
$27,518 ANNUAL NET OPERATING INCOME = 10% CAP RATE 

As is cap=10%, Proforma cap=13% + development upside. Current leases are under market value on rent. The property has good cash flow, development upside, in an under-served retail market. Please do not disturb tenants and verify all financial information in feasibility period.

NEED ADDRESS? – SIGN commission protection agreement

Building

Type1 Star Retail Freestanding (Strip Center)
GLA 2,500 SF
Stories1
Typical Floor 2,500 SF
Docks None
Construction Reinforced Concrete
Year Built 1950
Tenancy Multi
Owner Occup No
Parking 11 free Surface Spaces are available; Ratio of 3.72/1,000 SF
Frontage
118′ 
Taxes$1.56/SF (2016)
Walk Score®Somewhat Walkable (63)
Transit Score®Some Transit (47)

Land

Land Acres 0.34 AC
Bldg FAR 0.17
Land SF 15,000 SF
Zoning None
Parcel0332200240005

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