Durham Shops
Retail | 6.50% CAP | 13,345 SqFt
Marketing description
Durham Shops is a fully occupied, 13,345-square-foot retail center located in the prime Heights/Washington Avenue Corridor of Houston, Texas. The property features three stable tenants with staggered lease expirations in 2030, 2033, and 2036, delivering a weighted average lease term of 7.4 years. All three tenants operate under NNN lease structures, providing passive income and ease of management for the owner. The property has recently undergone renovations including parking lot restriping, fresh exterior paint, new signage, and full build-outs for two tenants with new plumbing and HVAC systems. Situated on 0.55 acres with ample parking, Durham Shops benefits from its location in one of Houston's most sought-after urban infill submarkets, characterized by strong demographics including an average household income of $153,494 within a 3-mile radius and a population exceeding 208,000.
Investment highlights
- Demonstrated Long-Term Commitment & Early Lease Renewal - Sherwin-Williams has operated at this location since 2015 following its acquisition of predecessor tenant Kwal Paint, and proactively renewed its lease three years early, extending through August 2036 with an additional five-year option.
- Weighted Average Lease Term of 7.4 Years - Long-term leases across all three tenants with staggered expirations in 2030, 2033, and 2036, reducing rollover concentration risk and providing stable, diversified cash flow.
- Ease of Management - 100% occupied with NNN lease structures across all three tenants, minimizing landlord responsibilities and delivering passive income.
- Recently Renovated - Parking lot restriped and sealed; new exterior signage and fresh paint across all three buildings; Hounds Town and Care Veterinary Services spaces received full build-outs including new plumbing and HVAC systems.
- Ample Parking - Dedicated customer parking in front with additional overflow parking along the railroad side - a rare advantage for an infill Houston location.
- Prime Heights/Washington Ave Corridor - Located in one of Houston's most sought-after urban infill submarkets, characterized by dense, affluent demographics and sustained residential and commercial development.
- Strong Demographics - Population exceeding 208,000 and an average household income of $153,494 within a 3-mile radius.
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