13313 Fm 1488 RdMagnolia, TX 77354

Property Details for 13313 Fm 1488 Rd

Year built

2024

Lot size

0.75 AC

Property size (Sq ft)

4,500 SF

Property type

Retail properties

Property subtype

Retail space

Description

Exceptional investment opportunity: a brand-new, 4,500 square foot Sherwin-Williams storefront in Magnolia, Texas. This Class A retail property, situated on a 0.75-acre lot, is a net-lease investment with a 10-year lease term remaining. The tenant, Sherwin-Williams (NYSE: SHW, S&P BBB), provides an investment-grade corporate guarantee, minimizing landlord responsibilities. The property boasts a strong 5.30% cap rate and a substantial net operating income (NOI) of $173,250. Built in 2024, this modern building requires minimal maintenance. The strategic location is an outparcel to a new Lowe's Home Improvement and adjacent to an H-E-B Grocery, surrounded by other national retailers including McDonald's, CVS, and many more. Magnolia is a high-growth market, experiencing an 8.9% annual growth rate and a population doubling in the last decade. The affluent area boasts an average household income of $158,129 within a one-mile radius. The lease includes 10% rent increases every five years, providing an inflation hedge. The property's asking price is $3,270,000, translating to $726 per square foot. Lease options include five, five-year renewals. 100% occupancy begins November 1, 2024.

Location Insight

City

Magnolia

County

Montgomery

State

Texas

Latitude

30.2229

Longitude

-95.6745

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