Listed by STRIVE Commercial Real Estate Advisors, Strive Commercial Real Estate Advisors
$4,800,000
Peek Plaza I
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 10,008
Net Rentable (SqFt) 10,008
Units 6
Cap Rate 7.00%
NOI $335,770
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $480
Class A
Year Built 2023
Buildings 1
Stories 1
Acreage 1.250
Investment Type Stabilized
Tenant Credit Credit Rated, Franchisee
Ground Lease No
Retail | 7.00% CAP | 10,008 SqFt
Investment highlights
- New 2023 Construction - 10,008 Square Foot Shopping Center with Drive-Thru on End-Cap
- Ease of Management - 100% Occupied with NNN Leases
- Long-Term Leases - 5-Year Leases with Weighted Average Lease Term of 4.6 Years
- Scheduled Rent Escalations - Rent Growth with Scheduled Increases during Primary Term and Renewal Options
- High Traffic Location - Well Positioned on Grand Parkway North (Highway 99) with Excellent Visibility to 93,852 Average Vehicles Per Day
- Complementary Tenant Mix - Tenancy Consists of National and Regional Retailers that are Internet-Resistant and Service-Based
- Strong Demographics - Located in Fast-Growing and Affluent Katy Submarket with Population over 293,000 and Average Household Income over $113,000 within a 5-Mile Radius
- Located in Growing Retail Trade Area - Nearby Major Attractions Include Walmart Supercenter, H-E-B, Kroger, HomeGoods, McDonald's, Starbucks, Chickfil-A, Petco, and Many Other National Retailers
- Surrounded by New Housing Developments - Brea Luxury Apartments (371 Units), Ascend at Ventana Lakes (303 Units), Linz Luxury Living Apartments (305 Units), and Morton Creek Ranch by Long Lake Single-Family Home Development
Listing Contacts
Listed by STRIVE Commercial Real Estate Advisors, Strive Commercial Real Estate Advisors
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$335,770.00
$27,980.83/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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