399k center homes

Want a great shopping center for only $399k, on a busy Main Street of Houston Texas?  This may your diamond in the rough.  This shopping center consist of a Nail Salon, Grocery Store, and a a C-Store.  Property is located in one of the fastest booming areas of Houston. Great Location, great neighborhood. Building has three units, grocery store. The building has a living area in the back, just in case you need a little home away from home or maybe just rent it out, 2 bedrooms, 1 living room, and 1 full bath. Easy access to major freeways I69, I10, I45, I610. Strong visibility.

FOR ADDRESS: SIGN commission protection agreement

Price/SF $32.11
Cap Rate 8.00% at 85% Occupancy 
Vacancy: 3000 sqft (once filled cap rate will rise to 10.5%)
NOI $29,400
Sale Type Investment
Status Active

Building

Type 2 Star Retail Convenience Store
GLA 13,080 SF
Year Built: 1945
Stories 1
Typical Floor 13,080 SF
Construction Masonry
Year Built 1945
Tenancy Single
Taxes$0.74/SF (2016)
Opex$4.17/SF (2012)
Walk Score®Somewhat Walkable (54)
Transit Score®Some Transit (45)

Land

Land Acres0.67 AC
Bldg FAR0.45
Land SF29,251 SF
Parcel0731100160468
2016 Assessment
Improvements
Land
Total Value
 $324,077
 $58,500
$382,577
 $24.78/SF
 $2.00/SF
$13.08/SF
Current
YOY Change

Vacancy Rates

Current Building
0.0%
0.0%
Submarket 1-3 Star
6.0%
1.1%
Market Overall
5.3%
0.4%

NNN Asking Rents Per SF

Submarket 1-3 Star
$19.48
15.4%
Market Overall
$16.66
4.8%

Submarket Leasing Activity

12 Mo. Leased SF
105,461
88.4%
Months on Market
0.1
13.3 mo

Submarket Sales Activity

Current
Prev Year
12 Mo. Sales Volume (Mil.)
$0
$1.0

Demographics

1 Mi 3 Mi
Population
8,993
79,717
Households
3,140
25,800
Average Age
38.20
36.10
Median HH Income
$28,333
$30,602
Daytime Employees
1,131
21,165
Population Growth ’17-’22
8.4%
8.2%
Household Growth ’17-’22
8.4%
8.0%

Traffic

Collection Street Cross Street Traffic Vol Year Distance
Homestead Rd
Westcott Rd W
13,610
2015
0.24 mi
Homestead Rd
Larkstone St SW
12,530
2015
0.25 mi
Laura Koppe Rd
Spaulding St W
4,020
2015
0.32 mi
Weaver Rd
Shreveport Blvd NW
9,240
2015
0.33 mi
Ley Rd
Homestead Rd W
8,180
2015
0.34 m

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