11330 Homestead RdHouston, TX 77016

For Sale
Call for price

Houston Retail Center: Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This 43,200 square foot shopping center in Houston, Texas, presents a compelling value-add investment opportunity. Located at 11330 Homestead Rd, in Harris County, this Class B property boasts 7 units with 83.8% occupancy, generating a current NOI of $281,638 and a pro-forma NOI of $361,406. Built in 1968 and renovated in 2019, the center sits on 4-4.5 acres and benefits from an absolute NNN lease type. The property features a 7-year remaining lease term and an attractive 8.30% cap rate. Situated in an Opportunity Zone and EB5 TEA zone, with convenient access to Homestead Rd and the 59 North Freeway, this multi-tenant retail center offers significant potential for increased rental income through lease rate adjustments and property improvements. The existing tenants provide a stable income stream, while the available pad offers the potential for expansion. The property's location within a densely populated neighborhood provides a strong foundation for future growth and profitability. Occupancy is projected to reach 100% by April 25, 2024.

Highlights

  • 8.30% Cap Rate, Value-Add Opportunity in Houston, TX.
  • 7-Unit, 43,200 SF Shopping Center with Absolute NNN Leases.
  • 83.8% Occupancy, 7-Year Remaining Lease Term; NOI $281,638, Pro-Forma NOI $361,406.
  • Located at 11330 Homestead Rd, Houston, TX 77016, in Opportunity Zone and EB5 TEA.
  • Built in 1968, Renovated in 2019; Situated on 4-4.5 acres.

Property Details for 11330 Homestead Rd

Property type
Lifestyle centers, Power centers
Square Feet
43,200 SF
Class
B
Year Built/Renovated
1968/2019
Lot Size (sq. ft)
174,240 SF
Units
7

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.8843527
Longitude
-95.2995077
11330 Homestead Rd, Houston, Texas

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11330 Homestead Rd
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