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31668899
31612505

4811 Hwy 6, Missouri City, TX 77459-3987

KV
TX 612661
Cushman & Wakefield Houston
MG
FL SL556412
Cushman & Wakefield - Miami, Florida
Listed by Cushman & Wakefield Houston, Cushman & Wakefield - Miami, Florida
$10,300,000
50 days on market
Updated 7 days ago

Colony Plaza

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 26,513
Cap Rate 5.90%
NOI $609,606
Occupancy 92.5%
Tenancy Multi
Brand/Tenant Kumon Math & Reading, State Farm Insurance (+9)
Lease Type NNN
Remaining Term 3
Rent Bumps Yes
Price per SqFt $389
Investment Type Value Add
Ownership Fee Simple

4811 Hwy 6, Missouri City, TX 77459-3987

Marketing description

Cushman & Wakefield's Retail Investment Advisors are pleased to present the exclusive offering of Colony Plaza (the "Property"), a 26,513 square foot neighborhood retail center featuring a compelling value-add opportunity in one of Greater Houston's most affluent and supply-constrained suburban trade areas.

Located in Missouri City within the Houston MSA, Colony Plaza serves the dense and affluent consumer base of both Missouri City and neighboring Sugar Land, two of the region's fastest-growing suburban communities. The surrounding trade area boasts an average household income of approximately $146,000 and a population of more than 212,000 within a five-mile radius.

Strategically positioned at the signalized southeast corner of Dulles Avenue and Highway 6, an intersection carrying a combined ~69,000 vehicles per day, the Property benefits from exceptional visibility, access, and daily traffic. Colony Plaza sits directly across the street from a dominant H-E-B grocer, the area's primary retail anchor, and has maintained approximately 97% occupancy over the past decade.

Currently 92.5% leased to a diverse roster of 14 tenants, the Property offers a weighted average lease term (WALT) of approximately 2.0 years and in-place rents averaging $24 per square foot, approximately 20% below market. This below-market rent profile, combined with near-term rollover, provides investors with a clear pathway to mark rents to market and unlock significant NOI growth, with projected five-year CAGR potential of approximately 7.17%.

Investment highlights

  • Signalized Hard Corner with Exceptional Traffic Exposure - Located at a high-visibility, signalized intersection with approximately 69,000 vehicles per day, providing strong daily traffic counts and excellent accessibility.
  • Dense, Affluent Trade Area - Serves a population of approximately 212,000 within a five-mile radius with an average household income of $146,000, supporting strong retail demand and tenant performance.
  • Compelling Value-Add Opportunity - In-place rents averaging approximately 20% below market combined with a short 2.0-year WALT provide a clear pathway to mark rents to market and achieve an estimated five-year NOI CAGR of approximately 7.17%.
  • Shadow-Anchored by Dominant Retail Drivers - Benefits from proximity to high-performing anchors, including a market-dominant H-E-B grocer and established Star Cinema Grill, which drive consistent consumer traffic to the immediate trade area.
  • Proven Occupancy and Leasing Strength - The Property has maintained approximately 97% occupancy over the past decade, with recent leasing activity achieving rents of $35 PSF nearly 44% above the center's current average.
  • E-Commerce-Resistant Tenant Mix - Approximately 80% of the GLA is leased to medical, service, and restaurant users, providing durable tenancy supported by necessity based and experiential demand.

Listing Contacts

KV
TX 612661
Cushman & Wakefield Houston
MG
FL SL556412
Cushman & Wakefield - Miami, Florida
Listed by Cushman & Wakefield Houston, Cushman & Wakefield - Miami, Florida

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$609,606.00
$50,800.50/mo

Valuation Metrics

0
DSCR
5.92%
Cap Rate
5.92%
ROI

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