24924 Morton Ranch RdKaty, TX 77493

Property Details for 24924 Morton Ranch Rd

Year built

2024

Lot size

12.86 AC

Property size (Sq ft)

122,735 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a brand-new, 122,735-square-foot retail center in Katy, Texas, anchored by a 20-year corporate net lease with H-E-B, the largest private company in Texas. The property, situated on 12.855 acres at 24924 Morton Ranch Rd, 77493, includes a fuel station and boasts a diverse tenant mix including McDonald's, Chase, SportClips, Great Clips, Go Health Urgent Care, Pacific Dental, and planned additions such as Whataburger, Mavis Tire, and Valvoline. A 348-unit luxury multi-family apartment complex is also integrated within the center. The property benefits from a 5.00% cap rate, a $1,698,750 NOI, and a $33,975,000 asking price ($276.82/sq ft). The lease commenced February 20, 2024, and includes six 5-year renewal options, extending the lease to February 28, 2044. Construction was completed in 2024, and the property enjoys 100% occupancy. Its strategic location across from Katy Park, a major recreational center, and near several new master-planned communities, coupled with the Katy ISD's recent $850 million bond package for new schools, ensures strong long-term growth potential. The property's limited competition within a two-mile radius further enhances its desirability. This is a rare opportunity to acquire a high-performing, strategically located retail asset with a strong anchor tenant and significant upside potential.

Location Insight

City

Katy

County

Harris

State

Texas

Latitude

29.8169

Longitude

-95.8049

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].