For Sale
$2,305,000

230 Bypass 35 Alvin, TX 77511

High-yield pOpshelf, strong tenant, long lease.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a fee-simple ownership of a 10,730 square foot pOpshelf retail store, located at 230 N Bypass 35, Alvin, TX 77511, within Brazoria County. The property, built in 2022, sits on a 1.05-acre lot and boasts a 100% occupancy rate. The current lease, an absolute NNN structure, commenced December 9, 2022, and extends to December 31, 2037, offering a substantial remaining term of 13.1 years. The tenant, pOpshelf (backed by a corporate guarantee from Dollar General Corporation), provides a credit-rated and financially secure lease. The lease includes four, five-year options with a 10% rent increase at each option period. The asking price is $2,305,000, representing a price per square foot of $214.82 and a compelling 5.85% cap rate based on a net operating income (NOI) of $134,796. This strategically located property benefits from high traffic counts (56,000+ vehicles per day) and proximity to a substantial population base (280,000+ within a 10-mile radius). The shopping center enjoys strong co-tenancy with established businesses such as The Home Depot, Office Depot, Starbucks, Olive Garden, Chili's, and NTB. This presents a rare opportunity to acquire a high-performing, low-maintenance retail asset with significant long-term growth potential.

Highlights

  • pOpshelf (Dollar General Brand), a new 2022 build-to-suit retail property.
  • Excellent location 35 miles south of Houston, TX, in a shopping center with strong adjacent tenants including The Home Depot, Office Depot, Starbucks, Olive Garden, Chili's, and NTB.
  • 10,730 square foot building on a 1.05-acre lot, offering a 5.85% cap rate and $134,796 NOI.
  • Strong corporate guarantee from Dollar General Corporation with a credit-rated tenant.
  • Absolute NNN lease with 15.1 years remaining, including four 5-year options with 10% rent increases at each option period.

Property Details for 230 Bypass 35

Property type
Lifestyle centers, Power centers
Square Feet
10,730 SF
Year Built
2022
Lot Size (sq. ft)
45,738 SF

Location Insight

City
Alvin
County
Brazoria
State
Texas
Latitude
29.4252254
Longitude
-95.2247069

FAQs

What type of property is this?
Lifestyle center - High-yield pOpshelf, strong tenant, long lease.
Where is the lifestyle center located?
The property is located at 230 Bypass 35 Alvin, TX.
What is the asking price?
The asking price for this property is $2,305,000.
What are key features of this property?
This property features: pOpshelf (Dollar General Brand), a new 2022 build-to-suit retail property.; Excellent location 35 miles south of Houston, TX, in a shopping center with strong adjacent tenants including The Home Depot, Office Depot, Starbucks, Olive Garden, Chili's, and NTB.; 10,730 square foot building on a 1.05-acre lot, offering a 5.85% cap rate and $134,796 NOI.
How can I contact the broker?
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230 Bypass 35
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