20010 Fm 529 RdCypress, TX 77433

Property Details for 20010 Fm 529 Rd

Year built

2022

Construction

STEEL FRAME

Lot size

1.98 AC

Property size (Sq ft)

11,000 SF

Property type

Retail space

APN

1166760170001

APU

1166760170001

Description

This exceptional 21,000-square-foot multi-tenant retail center, built in 2022, boasts a prime location in rapidly growing Cypress, Texas. Situated on a 1.98-acre lot, the property comprises two buildings with metal roofs, overhead doors, and ample concrete parking. Currently 100% occupied by seven tenants, all under triple-net (NNN) leases, this investment offers immediate cash flow and significant upside potential. The majority of leases include annual rent increases, ensuring year-over-year income growth. Tenants are primarily service-oriented businesses, demonstrating resilience to online competition. The property's strategic location on FM 529, near Fry Road, benefits from high daily traffic counts exceeding 22,876 vehicles. The surrounding area showcases robust demographics, with a population of over 311,869 within a five-mile radius and average household incomes exceeding $89,000 within one mile. Numerous national and regional retailers are nearby, further enhancing the property's desirability. An approved pad site for a third building is included, along with building shell materials to be conveyed at closing. This turnkey investment offers a compelling 7.93% cap rate and is priced at $168 per square foot, representing an exceptional opportunity in a thriving market. The property's strong tenant mix, new construction, and prime location make it an ideal addition to any portfolio. The NOI is $279,600.

• CAP approach

  CAP return

  Valuation

  6%

  $3,981,915

  6.5%

  $3,675,614

  7%

  $3,413,070

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,348,564

  Geo Method

  $8,299,091

• Alternative Use

  Use

  Valuation

  Residential

  $3,100,518

  Hospitality

  $2,840,058

  Educational

  $2,362,895

  Medical

  $2,444,158

  Retail

  $3,675,614

Location Insight

City

Cypress

County

Harris

State

Texas

Latitude

29.8803

Longitude

-95.7161

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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