Gateway 359 | 100% Leased NNN Multi-Tenant Retail
Retail | 6.75% CAP | 17,466 SqFt
Marketing description
Gateway 359 is a rare chance to own brand-new, 100% leased retail at the crossroads of Fulshear/Brookshire's rooftop boom. The center fronts the signalized corner of FM 359 & Hunt Road — ringed by master-planned communities, a new Lamar CISD campus, and the region's fastest-growing logistics corridor off Twinwood Parkway. Built in 2023, it totals 17,466 SF across 8 suites on 1.925 acres, and it produces income from the day you close.
INCOME IN PLACE FROM DAY ONE. Six tenants on true triple-net (NNN) leases — anchored by Anytime Fitness (5,000 SF) — plus a 12-month seller master lease at $29.00/SF NNN on the two remaining shell suites (Suites 300 & 800, 3,096 SF) generate $424,776 of day-one NOI, expense-neutral to the buyer. This is a true coupon-clipper on new construction, with roughly six years of weighted-average lease term on the third-party leases underpinning the cash flow.
PRICED BELOW REPLACEMENT COST. Offered at $6,290,000 — a 6.75% cap rate and just $360/SF. In today's construction market, you cannot build this center for what you can buy it for.
BUILT-IN RENT GROWTH. In-place rents blend to roughly $25/SF while brand-new construction directly on FM 359 is signing in the mid-$30s/SF NNN. That $10+/SF (~40%) mark-to-market gap already sits in the rent roll — the next owner inherits the upside as suites roll to market rather than betting on it.
A GROWTH STORY THAT SELLS ITSELF. Population within three miles has grown 454.1% since 2020, and the five-mile ring now holds 91,000+ residents with average household incomes around $183,600 (north of $170,000 at one mile) and owner-occupancy above 87%. Daily traffic runs 8,469 VPD on FM 359 and 11,159 VPD on nearby FM 1093. Demand is anchored by ±8,273 new planned homes and a new Lamar CISD 100-acre campus — Middle, Junior High & High School No. 8 — opening ±1 mile north in August 2027.
IDEAL FOR A 1031 EXCHANGE OR OWNER-USER. Trade into a clean, passive, new-construction NNN asset with real embedded upside — or occupy a suite and let the tenants carry the note. Located in unincorporated Fort Bend County (no zoning), outside the FEMA floodplain (Flood Zone X), steel construction, fully fire-sprinklered.
Full Offering Memorandum, rent roll, and financials available upon request.
Kris Bender | Leasing Director, Realty 1 Partners
Office: 832-847-4008 | [email protected]
Investment highlights
100% Leased, Day-One Stabilized — Six tenants on true NNN leases plus a 12-month seller master lease on the two shell suites (Suites 300 & 800, 3,096 SF at $29/SF NNN) deliver $424,776 of day-one NOI — expense-neutral, fully stabilized income at close.
Priced Below Replacement Cost — Offered at $6,290,000, a 6.75% cap and just $360/SF. You cannot rebuild this center in today's market for the acquisition basis.
$10+/SF Mark-to-Market Upside — In-place rents blend to ~$25/SF (master lease $29/SF) while brand-new construction directly on FM 359 signs in the mid-$30s/SF NNN — a ~40% rent gap that's real, capturable upside as suites roll to market.
Brand-New 2023 Construction, Minimal Capex — Modern building systems, new roof and parking, and warranty-backed tenant build-outs mean limited near-term capital exposure. Steel construction, fully sprinklered, and outside the FEMA floodplain (Flood Zone X).
Signalized Hard Corner in the Path of Growth — Fronting the signalized intersection of FM 359 & Hunt Road in Fulshear/Brookshire, one of Texas's fastest-growing submarkets. Three-mile population up 454.1% since 2020, with 8,469 VPD on FM 359 and 11,159 VPD on nearby FM 1093.
New Lamar CISD 100-Acre Campus, Opening Aug 2027 — Middle, Junior High & High School No. 8 rises ±1 mile north at FM 359 & Twinwood Pkwy, amid ±8,273 new planned homes — a built-in daytime-traffic and rooftop driver.
Affluent, Deepening Rooftop Base — 91,000+ residents within five miles, average household income ±$183,600 (exceeding $170,000 at one mile), and owner-occupancy above 87% — an affluent family base that supports service, fitness, and F&B retail.
Turnkey 1031 or Owner-User Play — Step into passive, new-construction NNN income with embedded rent growth as an exchange buyer, or occupy a suite and let the tenants carry the note.
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