1771 Spring Stuebner RdSpring, TX 77388

For Sale
$21,138,000

High-traffic, 100% occupied shopping center.

Overview

Added:
Dec 11, 2024
Days on market:
94
Exceptional investment opportunity: a 125,000 square foot, 100% occupied shopping center in Houston, Texas, featuring Academy Sports + Outdoors, Dick's Sporting Goods, and Bass Pro Shops. This property boasts a new 20-year absolute NNN ground lease with a corporate guarantee, commencing June 20, 2024, and expiring June 30, 2044. The lease includes 10% rental increases every five years, ensuring consistent income growth. The property sits on an 18.87-acre lot and generates a substantial net operating income (NOI) of $1,300,000, resulting in a 6.15% cap rate. Built in 2024, this strategically located center benefits from its proximity to Interstate 45, a major commuter artery with over 162,000 vehicles daily, and is surrounded by thriving residential areas, schools, and other retail establishments. The property's prime location within a rapidly expanding retail corridor makes it an ideal investment for those seeking a stable, high-return asset. This is a 1031 exchange eligible property. The asking price is $21,138,000.

Highlights

  • $21,138,000 asking price for a 125,000 square foot retail property.
  • Net lease investment with a 20-year absolute NNN ground lease, commencing June 20, 2024, and expiring June 30, 2044.
  • 100% occupancy with a single tenant: Bass Pro Shops, supported by a corporate guarantee.
  • 6.15% cap rate and $1,300,000 annual net operating income (NOI).
  • Located in Houston, TX (77388), on an 18.87-acre lot, near Interstate 45, a high-traffic corridor.

Property Details for 1771 Spring Stuebner Rd

Property type
Lifestyle centers, Power centers
Square Feet
125,000 SF
Year Built
2024
Lot Size (sq. ft)
821,977 SF

Location Insight

City
Spring
County
Harris
State
Texas
Latitude
30.083065555576
Longitude
-95.440824399453
1771 Spring Stuebner Rd, Spring, Texas

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1771 Spring Stuebner Rd
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