230 Bypass 35Alvin, TX 77511

Property Details for 230 Bypass 35

Year built

2022

Lot size

1.05 AC

Property size (Sq ft)

10,730 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple ownership of a 10,730 square foot pOpshelf retail store, located at 230 N Bypass 35, Alvin, TX 77511, within Brazoria County. The property, built in 2022, sits on a 1.05-acre lot and boasts a 100% occupancy rate. The current lease, an absolute NNN structure, commenced December 9, 2022, and extends to December 31, 2037, offering a substantial remaining term of 13.1 years. The tenant, pOpshelf (backed by a corporate guarantee from Dollar General Corporation), provides a credit-rated and financially secure lease. The lease includes four, five-year options with a 10% rent increase at each option period. The asking price is $2,305,000, representing a price per square foot of $214.82 and a compelling 5.85% cap rate based on a net operating income (NOI) of $134,796. This strategically located property benefits from high traffic counts (56,000+ vehicles per day) and proximity to a substantial population base (280,000+ within a 10-mile radius). The shopping center enjoys strong co-tenancy with established businesses such as The Home Depot, Office Depot, Starbucks, Olive Garden, Chili's, and NTB. This presents a rare opportunity to acquire a high-performing, low-maintenance retail asset with significant long-term growth potential.

Location Insight

City

Alvin

County

Brazoria

State

Texas

Latitude

29.4252

Longitude

-95.2247

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