Bellfort Avenue Retail Center
Heavy Value-Add Retail Center : New 2024 Construction : 83% Vacancy : 12.52% Pro Forma CAP Rate
Marketing description
Bellfort Avenue Retail Center is a newly constructed, multi-tenant retail center located in the city of Sugar Land, Texas. Completed in 2024, the property features two modern retail buildings totaling 17,253 square feet of leasable area. Currently 17 percent leased, the asset is primed for value creation through lease-up and stabilization. The three existing tenants operates under triple-net (NNN) leases, providing a foundation for future income predictability as additional tenants are secured. With contemporary design elements, quality construction, and excellent visibility along West Bellfort Avenue, the property offers strong curb appeal for prospective tenants. The property is directly next to a newly constructed gas station and convenience store (not a part), and the subject property is excluded from developing or leasing to a gas station.
Situated in Fort Bend County, one of the fastest-growing counties in Texas, the property enjoys a prime location along West Bellfort Avenue—just minutes from State Highway 6 and the Fort Bend Parkway Toll Road. This strategic position provides direct access to major commuting routes and regional retail destinations, increasing daily traffic exposure and long-term leasing potential.
Investment highlights
NEW 2024 CONSTRUCTION WITH MODERN RETAIL DESIGN
Delivered in 2024, the property comprises two adjacent retail buildings offering contemporary architecture, efficient floorplans, and low deferred maintenance.
SUBSTANTIAL VALUE-ADD THROUGH LEASE-UP
Currently 83 percent vacant, the asset presents a rare lease-up opportunity in a strong submarket. The pro forma assumes full occupancy at $29.00/SF plus triple-nets, generating stabilized cap rate potential of 12.52 percent.
WELL-LOCATED WITHIN A DENSELY POPULATED AREA
The property sits in the heart of Sugar Land, one of the most desirable suburbs in the Houston MSA, surrounded by high-density residential neighborhoods. The immediate trade area features strong population growth, high household incomes, and consistent retail traffic drivers—ideal conditions for tenant demand.
LOW BASIS INVESTMENT WITH UPSIDE POTENTIAL
Offered at $231.55 per square foot, the property provides a low-cost entry point relative to replacement cost for new construction retail.
SUBJECT PROPERTY IS PROHIBITED FROM BEING DEVELOPED OR OPERATED AS A GAS STATION
LAND PARCEL IS BEING REPLATTED | CLOSING WILL BE BASED ON METES AND BOUNDS
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
