Listed by ICO Real Estate Advisors, LLC
$3,200,000
708 N. Conway Ave
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 13,534
Cap Rate 6.98%
NOI $223,265
Occupancy 100%
Tenancy Multi
Brand/Tenant T-Mobile
Lease Type Gross
Pro-Forma Cap Rate 8.2%
Pro-Forma NOI $262,265
Price per SqFt $236
Class B
Year Built 1997
Acreage 0.750
Investment Type Value Add
Tenant Credit Credit Rated
Ground Lease No
Sale Condition N/A
Retail | 6.98% CAP | 13,534 SqFt
Marketing description
ICO Real Estate is pleased to exclusively offer for sale an H-E-B shadow-anchored retail center located within a high-growth corridor surrounded by national retailers. The property represents a compelling investment offering investors stable in-place cash flow from day one, along with meaningful value-add upside through the ability to increase below-market. This combination of existing income and future NOI growth creates a rare opportunity in one of South Texas' fastest-growing markets.
Investment highlights
- Significant Upside Potential: Current in-place rents are materially below market, creating a compelling value-add opportunity. As leases roll, investors have the ability to mark rents to market, increase rental revenue, and drive meaningful NOI growth.
- Lease Type: Except T-Mobile, lease are currently structured as gross leases. As leases roll and rents are marked to market, converting existing gross leases to NNN structures provides an additional opportunity to reduce landlord expense exposure and further increase NOI.
- Location: The property benefits from its position directly across from H-E-B, a major traffic driver that generates consistent daily activity and visibility for the center.
- Demographics: With approximately 154,000 residents within a 5-mile radius and projected growth to 170,800, the area benefits from a steadily expanding population base and increasing consumer demand.
Listing Contacts
Listed by ICO Real Estate Advisors, LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$223,265.00
$18,605.42/mo
Valuation Metrics
0
DSCR
6.98%
Cap Rate
6.98%
ROI
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