This exceptional investment opportunity presents a brand-new, 122,735-square-foot retail center in Katy, Texas, anchored by a 20-year corporate net lease with H-E-B, the largest private company in Texas. The property, situated on 12.855 acres at 24924 Morton Ranch Rd, 77493, includes a fuel station and boasts a diverse tenant mix including McDonald's, Chase, SportClips, Great Clips, Go Health Urgent Care, Pacific Dental, and planned additions such as Whataburger, Mavis Tire, and Valvoline. A 348-unit luxury multi-family apartment complex is also integrated within the center. The property benefits from a 5.00% cap rate, a $1,698,750 NOI, and a $33,975,000 asking price ($276.82/sq ft). The lease commenced February 20, 2024, and includes six 5-year renewal options, extending the lease to February 28, 2044. Construction was completed in 2024, and the property enjoys 100% occupancy. Its strategic location across from Katy Park, a major recreational center, and near several new master-planned communities, coupled with the Katy ISD's recent $850 million bond package for new schools, ensures strong long-term growth potential. The property's limited competition within a two-mile radius further enhances its desirability. This is a rare opportunity to acquire a high-performing, strategically located retail asset with a strong anchor tenant and significant upside potential.
Highlights
Brand new 2024 construction, 122,735 square feet on 12.855 acres.
20-year corporate net lease with H-E-B, including six 5-year renewal options.
Mixed-use center anchored by H-E-B, including a fuel station and tenants such as McDonald's, Chase, and several others, with planned additions of Whataburger, Mavis Tire, and Valvoline.
Includes a 348-unit luxury multi-family apartment complex.
Excellent location near Katy Park and new master-planned communities, with limited competition within a two-mile radius.
Strong long-term growth potential due to Katy ISD's $850 million bond package for new schools.
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Contacts
Teddy Leonard
Patrick R. Luther, CCIM
Patrick Nutt
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24924 Morton Ranch Rd, Katy, Texas, 77493
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24924 Morton Ranch Rd
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