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.
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