1000 Prairie StHouston, TX 77002

For Sale
$9,936,000

Historic mixed-use building, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional three-story, 26,973 square foot shopping center is located at 1000 Prairie St, Houston, TX 77002, in the heart of the Central Business District. Priced at $9,936,000, this represents a compelling investment opportunity with an 8.00% cap rate and a strong net operating income (NOI) of $794,890. Currently boasting 100% occupancy with a diverse mix of restaurant and office tenants, this property offers significant diversification of income streams. The building benefits from a modified lease structure and is situated on a prominent corner lot at Main and Prairie Streets. Its prime location offers unparalleled access to Houston's METRORail, less than 200 feet away, and major bus routes, ensuring convenient commuting for employees and customers. The surrounding area is a vibrant hub of corporate offices, banks, and legal firms, presenting excellent potential for future commercial or office tenants. Furthermore, the property's proximity to Minute Maid Park and the Toyota Center, along with a diverse array of nearby restaurants, bars, and shopping options, enhances its appeal and potential for growth. Adding to its financial strength, the building features cell tower leases with AT&T and T-Mobile on the roof, generating additional recurring revenue. This irreplaceable piece of Houston real estate presents a rare opportunity for a savvy investor seeking a high-performing, centrally located asset with significant upside potential. The property is offered with a zero-year remaining lease term.

Highlights

  • Irreplaceable Downtown Houston location at the corner of Main and Prairie Streets in the Central Business District.
  • Surrounded by corporate offices, banks, and legal firms, ideal for future commercial or office tenants.
  • Less than 200 feet from METRORail and major bus routes, providing excellent accessibility.
  • Abundant nearby restaurants, bars, and shopping options, enhancing appeal and attracting diverse clientele.
  • Proximity to Minute Maid Park and Toyota Center, benefiting from high foot traffic and event-driven activity.
  • Diverse tenant mix of restaurants and office spaces, mitigating risk and diversifying income streams.

Property Details for 1000 Prairie St

Property type
Lifestyle centers, Power centers
Square Feet
26,973 SF
Stories
3

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7605377
Longitude
-95.3618803
1000 Prairie St, Houston, Texas

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1000 Prairie St
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