3320 Texas 6Houston, TX 77082

For Sale
$9,800,000

11-Tenant Retail Portfolio, 6.7% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Houston retail investment offers a compelling opportunity. The property comprises three single-story buildings totaling 25,415 square feet on a 2.53-acre lot, situated at 3320, 3402, and 3418 S Texas 6, Houston, TX 77082. Built in 2004, this Class B, multi-tenant retail center boasts 100% occupancy with a diverse tenant mix including Pizza Hut, USPS, Domino's Pizza, UPS, and seven additional tenants. The property features over 500 feet of frontage on Highway 6, benefiting from its location as a shadow center to a high-performing Walmart Supercenter. The current Net Operating Income (NOI) is $656,816, with a projected NOI of $686,000, resulting in a 6.7% cap rate and a pro-forma cap rate of 7.0%. The asking price is $9,800,000, translating to a price per square foot of $385.60. The property is leased under an Absolute NNN lease structure, minimizing management responsibilities. Located in a high-growth area with a population of 143,815 within a three-mile radius and projected submarket growth of 7% over the next three to four years, this investment presents significant long-term potential. The property's Harris County location offers additional tax advantages. This is a stabilized investment with strong cash flow and significant upside potential.

Highlights

  • $9,800,000 asking price for a stabilized, multi-tenant retail property.
  • 25,415 square feet on a 2.53-acre lot, with 11 tenants including Pizza Hut, USPS, Domino's Pizza, and UPS.
  • Absolute NNN leases, 100% occupancy, $656,816 NOI (with a pro-forma NOI of $686,000), and a 6.70% cap rate (7.00% pro-forma).
  • Located in Houston, TX, with over 500 feet of frontage on Hwy 6, shadow-anchored by a high-performing Walmart Supercenter.
  • Strong tenant mix and a 3-mile radius population of 143,815, with projected submarket growth of 7% in the next 3-4 years.

Property Details for 3320 Texas 6

Property type
Lifestyle centers, Power centers
Square Feet
25,415 SF
Class
B
Year Built
2004
Buildings
3
Stories
1
Lot Size (sq. ft)
110,207 SF
Units
13

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7222846
Longitude
-95.6448184
3320 Texas 6, Houston, Texas

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3320 Texas 6
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