For Sale
$1,200,000

22323 Loop Houston, TX 77339

High-yield retail center, 9,148 SF, 6.72% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional Kingwood, TX retail investment opportunity presents a 9,148 square foot shopping center and storefront property situated on a 0.52-acre lot at 22323 Loop 494, Houston, Harris County, TX 77339. Built in 1980, this single-story building boasts 20 parking spaces and currently enjoys 60% occupancy, with a projected 100% occupancy by December 11, 2024. The property offers a current Net Operating Income (NOI) of $80,583, translating to a 6.72% capitalization rate. However, with projected lease agreements in place, the pro-forma NOI is estimated at $140,658, resulting in a significantly higher pro-forma cap rate of 11.72%. The asking price for this Net Lease (NNN) property is $1,200,000. This prime location provides excellent visibility and high traffic counts, making it an attractive investment for discerning buyers seeking strong returns and potential for significant appreciation. The property is currently undergoing lease negotiations, with only one space remaining to be leased. This presents a unique opportunity to capitalize on the strong market demand and achieve a substantial increase in NOI and cap rate.

Highlights

  • 9,148 SF retail center on 0.52-acre lot in Kingwood, TX.
  • 20 parking spaces, currently 60% occupied, projected 100% occupancy by December 11, 2024.
  • Current NOI: $80,583, 6.72% cap rate; Pro-forma NOI: $140,658, 11.72% cap rate.
  • Asking price: $1,200,000, Net Lease (NNN).
  • Prime location with high visibility and traffic counts.

Property Details for 22323 Loop

Property type
Lifestyle centers, Power centers
Square Feet
9,148 SF
Year Built
1980
Buildings
1
Stories
1
Lot Size (sq. ft)
22,651 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
30.036164025423
Longitude
-95.253856639313

FAQs

What type of property is this?
Lifestyle center - High-yield retail center, 9,148 SF, 6.72% cap rate.
Where is the lifestyle center located?
The property is located at 22323 Loop Houston, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9,148 SF retail center on 0.52-acre lot in Kingwood, TX.; 20 parking spaces, currently 60% occupied, projected 100% occupancy by December 11, 2024.; Current NOI: $80,583, 6.72% cap rate; Pro-forma NOI: $140,658, 11.72% cap rate.
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22323 Loop
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