3301 Davis StConroe, TX 77304

Property Details for 3301 Davis St

Year built

2006

Lot size

0.70 AC

Property size (Sq ft)

7,964 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Conroe Plaza, a 7,964 square foot shopping center in Conroe, Texas, is offered at $2,645,000. Built in 2006 on a 0.7-acre lot, this multi-tenant retail property boasts 100% occupancy with a strong tenant mix under a Net Net + lease structure. Located at 3301 W Davis St, 77304, it benefits from a prime location directly across from Conroe High School and situated on Conroe's main east-west thoroughfare, experiencing high daily vehicle traffic (218,529 VPD). The property enjoys proximity to a high-volume HEB grocery store (less than a mile away), attracting approximately 2.1 million annual visits. Significant upside potential exists due to a weighted average rent significantly below market value (over 20% below), with only 22% of the gross leasable area having options, and those at fair market value. The area demonstrates strong demographics, including a 22% population growth since 2020 and an average household income exceeding $116,444. The property features a new roof (installed in 2017) and minimal deferred maintenance, promising a stable and potentially lucrative investment opportunity. A 5-year compound annual growth rate of 5.54% further underscores the investment potential.

Location Insight

City

Conroe

County

Montgomery

State

Texas

Latitude

30.3213

Longitude

-95.4877

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