Listed by Oldham Goodwin Group
$6,464,300
Shops at Reflection Bay
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 15,602
Cap Rate 7.00%
NOI $465,220
Occupancy 100%
Tenancy Multi
Brand/Tenant Renzo Gracie Jiu-Jitsu, Thomas R Salons
Lease Type NNN
Rent Bumps Yes
Price per SqFt $29
Year Built 2022
Buildings 1
Stories 1
Lot Size (SqFt) 67,649
Zoning Planned Unit Development
Parking Spaces 6.30 per 1,000 sq ft
Investment Type Net Lease
Ground Lease No
NNN Multitenant Retail - 2022 Construction
Marketing description
OLDHAM GOODWIN is pleased to present the Shops at Reflection Bay for your consideration. The property is located at the corner of the entrance to Shadow Creek, an affluent 7,000 home master-planned community in Pearland, TX. Shops at Reflection Bay boasts an ideal retail site to serve the densely populated rooftops, strong visibility at the hard corner of heavily trafficked Shadow Creek Parkway and Reflection Bay Drive, and ease of access to both SH 288 and Beltway 8, the 2 major thoroughfares serving Pearland.
Investment highlights
- Located in the premier master planned Shadow Creek Ranch community surrounded by a dense neighborhood rooftop population with strong income demographics
- Location is optimal at the lighted intersection of two main thoroughfares in Shadow Creek Ranch with traffic counts over 32,000 VPD and only 1.23 miles from Highway 288
- Pearland is considered the eighth fastest growing city in America and the third fastest in the Houston MSA
- Located within the 564-acre commercial core of Shadow Creek Ranch with projected 5,000+ local jobs and close to major retail anchors.
- Supported by active urban planning and investment under Pearland Prosperity and PEDC strategic initiatives.
- Fully Occupied
- All in-place tenants have 3% annual increases
- Nearly four year weighted average lease term
- Service and soft goods based synergistic tenancy
- All tenants on NNN leases
- TPO roof 25-year no dollar limit warranty through 2047
- Tenant installed & maintained HVAC
Listing Contacts
Listed by Oldham Goodwin Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$465,220.00
$38,768.33/mo
Valuation Metrics
0
DSCR
7.2%
Cap Rate
7.2%
ROI
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