22323 LoopHouston, TX 77339

Property Details for 22323 Loop

Year built

1980

Lot size

0.52 AC

Property size (Sq ft)

9,148 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

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.

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

30.0362

Longitude

-95.2539

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