3330 Spencer HwyPasadena, TX 77504

For Sale
$3,500,000

Value-add shopping center, owner-user ideal.

Overview

Added:
Dec 11, 2024
Days on market:
94
This Pasadena, TX shopping center presents a compelling value-add investment opportunity, perfect for an owner-user. The 26,050 square foot property, built in 1984 and renovated in 2022, sits on an 84,032 square foot lot at the signalized intersection of Spencer Hwy and Strawberry Rd, boasting high visibility and exposure to over 47,500 vehicles daily. Currently 36% occupied, the center offers significant upside potential. A key anchor tenant is Family Dollar, operating under a NNN lease with 5 years remaining. The property's strategic location benefits from a strong surrounding retail environment, including national brands like Kroger, Walgreens, and Petco, and a robust demographic profile with average household incomes exceeding $82,000 within a 5-mile radius. The area's employment base is driven by the ship channel industries, Bayport Industrial District, and the Lyndon B. Johnson Space Center. The asking price is $3,500,000, translating to $134 per square foot and $42 per square foot for land value. This single-story building presents a rare chance to acquire a well-positioned retail asset in a thriving Texas market. The property is zoned for retail use and offers significant potential for future growth and development.

Highlights

  • Value-add investment opportunity in Pasadena, TX, ideal for owner-users; 36% occupancy.
  • Anchored by Family Dollar with a NNN lease (5 years remaining).
  • High-visibility location at the signalized intersection of Spencer Hwy and Strawberry Rd, with over 47,500 vehicles daily.
  • Strong employment base driven by nearby ship channel industries, Bayport Industrial District, and Lyndon B. Johnson Space Center.

Property Details for 3330 Spencer Hwy

Property type
Lifestyle centers, Power centers
Square Feet
26,050 SF
Year Built/Renovated
1984/2022
Buildings
1
Stories
1

Location Insight

City
Pasadena
County
Harris
State
Texas
Latitude
29.664820817134
Longitude
-95.193201932516
3330 Spencer Hwy, Pasadena, Texas

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3330 Spencer Hwy
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