1319 Cypress Creek PkwyHouston, TX 77090

For Sale
$12,760,000

High-yield multi-tenant retail center, excellent location.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 82,073 square foot shopping center in Houston, Texas, presents a compelling investment opportunity. Boasting a 7.75% cap rate and a strong 96.92% occupancy, the property generates a substantial net operating income (NOI) of $980,887. Built in 2005, this single-story center sits on a 7.1-acre lot at 1319 Cypress Creek Pkwy, zip code 77090, within the thriving Harris County market. The center benefits from a strategic location, with significant traffic counts on nearby FM 1960 (52,928 vehicles per day) and I-45 (215,941 vehicles per day within a 10-minute drive). A substantial daytime population of over 164,854 employees resides within a 5-mile radius, ensuring a robust customer base. The tenant mix includes a significant percentage (37.8%) of national and government credit tenants, such as Advance Auto Parts, Harris County Public Health, and CSL Plasma, providing stability and long-term value. Furthermore, the property's location is enhanced by significant residential growth, with over 400 new homes under construction in adjacent developments, including DR Horton's Legacy Park and Harris County's Providence Gardens. This prime location, coupled with strong financial performance and a diverse tenant base, makes this shopping center an attractive investment prospect. The asking price is $12,760,000, translating to a price per square foot of $155.47.

Highlights

  • $12,760,000 asking price for this 82,073 square foot shopping center.
  • 7.75% cap rate with a $980,887 NOI and 96.92% occupancy.
  • Located in Houston, TX at 1319 Cypress Creek Pkwy, on a 7.1-acre lot.
  • Features national and government credit tenants, including Advance Auto Parts and Harris County Public Health.
  • Strong location with high traffic counts (52,928 VPD on FM 1960 and 215,941 VPD on I-45 within a 10-minute drive) and high employment density (over 164,854 employees within a 5-mile radius).

Property Details for 1319 Cypress Creek Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
82,073 SF
Year Built
2005
Stories
1
Lot Size (sq. ft)
309,276 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
30.014634769551
Longitude
-95.449842288854
1319 Cypress Creek Pkwy, Houston, Texas

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1319 Cypress Creek Pkwy
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