1251 Wilcrest DrHouston, TX 77042

Property Details for 1251 Wilcrest Dr

Year built

1975

Construction

FRAME

Lot size

10.11 AC

Property size (Sq ft)

10,332 SF

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

451380010063

APU

451380010063

Description

This exceptional 257,542 square foot retail center, located at 1251 Wilcrest Dr in Houston, Texas (77042), presents a compelling investment opportunity. The property boasts a strong 5.66% capitalization rate and a substantial net operating income (NOI) of $2,275,565. Currently operating at 79% occupancy, the center comprises ten buildings across two stories, totaling 240 units. Each unit is priced at $125,000, reflecting a strong value proposition. Built in 1975, the property sits on a sizable 10.11-acre lot and offers ample parking with 381 spaces. The asking price for this prime retail asset is $30,000,000, translating to a price per square foot of $116.49. Situated in Harris County, this well-established center benefits from its convenient location and strong tenant base. The property's size, high NOI, and attractive cap rate make it an ideal addition to any diversified investment portfolio. This is a rare opportunity to acquire a significant retail property in a thriving Houston market. Detailed financial statements are available upon request.

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7517

Longitude

-95.571

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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