Shops at Young Ranch
100% Occupied Center With Long-Term Upside in Excellent High Growth Location in Katy (Houston MSA)
Marketing description
Marcus & Millichap is pleased to exclusively list for sale Shops at Young Ranch, a 14,784-square-foot, 100 percent occupied multi-tenant retail center built in 2019 and located at 29711 Kingsland Boulevard in Katy, Texas. The center sits directly off Texas Heritage Parkway — the primary north-south thoroughfare off Interstate 10 — and is surrounded by three master-planned communities totaling over 7,000 homes: Jordan Ranch (3,000 planned), Young Ranch (1,000 planned), and Firethorne (3,000+).
The property offers meaningful long-term upside by raising rents, with base rents currently averaging $30.60/SF. Similar nearby retail centers are achieving rents up-to twenty percent higher.
The asset is centrally located within a rapidly growing area of Katy. 0.5 Miles north of the property is the forthcoming Texas Heritage Marketplace, a $400M Target-anchored development also bringing Sam’s Club, Lowe’s, and EOS Fitness. The H-E-B-anchored Jordan Ranch Market is located 0.8 miles south of the property.
Shops at Young Ranch is offered at $6,922,000 ($468/SF), representing a 6.54 percent cap rate on in place NOI of $452,353.
Investment highlights
- Long-Term Upside By Raising Below Market Rents
- Average Weighted Base Rental Rate of $30.60 Per Square Foot
- Nearby Retail Centers Off of Texas Heritage Parkway With
- Rents of $37 to $42 Per Square Foot
- Excellent High Growth Location Off Texas Heritage Parkway
- Primary North-South Thoroughfare Off of Interstate 10 to Access Jordan Ranch Master Planned Community (3,000 Planned Homes)
- Surrounded by Additional Residential Communities Young Ranch (1,000 Planned Homes) and Firethorne (3,000+ Homes)
- Centrally Located in Prime Retail Corridor
- 0.5 Miles from Texas Heritage Marketplace (Coming Soon)
- Target, Sam’s Club, Lowe’s, EOS Fitness, and more
- 0.8 Miles from Jordan Ranch Market: H-E-B Anchored Development
- 0.5 Miles from Texas Heritage Marketplace (Coming Soon)
- Stable, Internet Resistant Tenancy With Multiple National Chains
- 3.6 Years of Weighted Average Lease Term Remaining (WALT)
- Average Tenure of Tenancy of Five or More Years
- Tenants on Triple-Net Leases With Staggered Lease Expirations
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
