For Sale
$5,865,000

1420 Grand PkwyKaty, TX 77494

High-Yield Retail Investment, Katy, TX

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 8,419 square foot, 100% occupied retail property in Katy, Texas, presents a compelling investment opportunity. Located on the highly trafficked SH-99 (Grand Parkway) with over 118,000 vehicles per day, this Class "A" shopping center boasts a prime location within a thriving, affluent submarket. The property features a complementary mix of national and regional tenants, including a Kroger grocery anchor, and benefits from a strong demographic profile with average household incomes exceeding $122,000 within a 3-mile radius. Built in 2019, this four-tenant strip center offers NNN leases, ensuring predictable cash flow. The property's 0.99-acre lot provides excellent visibility and signage opportunities. With a 6.00% cap rate and a Net Operating Income (NOI) of $351,626, this investment offers significant potential for long-term growth. The property's proximity to other major retailers like Costco, Academy Sports + Outdoors, and Sprouts Farmers Market further enhances its desirability. All suites are smaller than 3,050 square feet, making them highly leasable. The property is situated near LaCenterra, a large upscale mixed-use development, and within the Cinco Ranch Master Planned Community, a significant residential area with over 15,000 homes. This is a rare opportunity to acquire a high-performing retail asset in one of Houston's fastest-growing submarkets. The asking price is $5,865,000.

Highlights

  • 8,419 SF Class A retail strip center in Katy, TX, 100% occupied.
  • NNN leases with a mix of national and regional tenants, including a Kroger-anchored center.
  • Highly leasable suites (all under 3,050 SF) in an affluent submarket with average household incomes exceeding $122,000 within a 3-mile radius.
  • Prime location on SH-99 (Grand Parkway), boasting over 118,000 vehicles per day, offering excellent visibility and signage.
  • Located near LaCenterra mixed-use development and Cinco Ranch Master Planned Community, with proximity to other major retailers like Costco, Academy Sports + Outdoors, and Sprouts.

Property Details for 1420 Grand Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
8,419 SF
Year Built
2019
Lot Size (sq. ft)
43,124 SF

Location Insight

City
Katy
County
Fort Bend
State
Texas
Latitude
29.759866
Longitude
-95.7771752
1420 Grand Pkwy, Katy, Texas

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1420 Grand Pkwy
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