Listed by Northmarq Capital, LLC, Northmarq
$3,801,000
290@Fairbanks Shopping Center
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 13,270
Cap Rate 6.50%
NOI $247,006
Occupancy 100%
Tenancy Multi
Lease Type NNN
Year Built 2006
Buildings 1
Stories 1
Acreage 0.910
Parking Spaces spaces
Ground Lease No
Ownership Fee Simple
6 NNN Units w/ 2 Multi-Unit Operators | 196K+ VPD U.S. Hwy-290 | Supported by 107K Residents
Marketing description
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the 290@Fairbanks Shopping Center (the “Property”) located at 6306 Fairbanks N. Houston Rd., Houston, TX with easy access and ample frontage to busy U.S. Highway 290, aka the “Northwest Freeway”. 290@Fairbanks Shopping Center is a 100% leased retail center with a diverse mix of tenants that serve the surrounding community. The Property sits directly in front of Home Depot, and is easily managed with just 6 tenants.
Investment highlights
- 100% leased by 6 tenants with NNN leases
- Located on Home Depot outparcel/adjacent to McDonald’s
- Anchored by Brazos Urgent Care & Tru Fuego 290 (multi-unit operators)
- Four of the six tenants have been at the center for 7+ Years
- Average rents of $17.19 PSF in a market where rents are in the mid-to-upper $20 PSF range
- WALT is 2.82 Years | Five of the six tenants have no options with leases coming due in 2 to 3 years
- Excellent visibility located just off U.S. Highway 290 with over 196,879 cars per day
- Over 34.2 million SF of industrial and 2.4 million SF of retail within 2 miles
- Over 301,711 population within 5 miles with an average household income of over $102,570
Listing Contacts
Listed by Northmarq Capital, LLC, Northmarq
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$247,006.00
$20,583.83/mo
Valuation Metrics
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DSCR
6.5%
Cap Rate
6.5%
ROI
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