10931 Ocean City BlvdHouston, TX 77070

Property Details for 10931 Ocean City Blvd

Lot size

1.72 AC

Property size (Sq ft)

16,483 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional Houston retail property, located at 10931 Ocean City Blvd, offers 16,483 square feet on a 1.72-acre lot. The property features a two-story building, renovated in 2023, with two units totaling 15,124 net rentable square feet. Currently, one 10,000 square foot unit is leased to Burden Auto Care, generating $35,000 in monthly rent under a 5-year lease commencing February 1, 2025. A vacant 5,124 square foot unit is available for lease, offering significant upside potential with estimated annual rent ranging from $17.50 to $22.50 per square foot. The property boasts 52 parking spaces and is situated in a high-growth area of Houston, easily accessible via SH 249 and US 290, near major residential developments, and significant commercial activity. The property is classified as Class B, with a multi-tenant occupancy and a Net Lease (NNN) structure. The property's location benefits from proximity to key commercial centers, industrial zones, and high-traffic corridors. With an anticipated net operating income (NOI) of $357,000 and a 7% capitalization rate, this redevelopment opportunity presents a compelling investment prospect. The property's address is 10931 Ocean City Blvd, Houston, TX 77070, with APN 120-708-001-0001. The property is currently vacant, with an occupancy date of January 1, 2025.

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.9567

Longitude

-95.584

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