1380 Grand PkwyKaty, TX 77494

Property Details for 1380 Grand Pkwy

Year built

2023

Lot size

1.95 AC

Zone code

Y

Property type

Other commercial real estate

APN

2952-02-000-0019-914

APU

2952020000019914

Description

This exceptional investment opportunity presents a Class "A" two-tenant retail strip center totaling 13,291 square feet, boasting 100% occupancy. Located at 1380 W Grand Pkwy S in Katy, Texas (77494), this property offers a compelling 5.85% cap rate with a strong NOI of $316,937. Built in 2023, the center features a triple-net (NNN) lease structure with escalations for both tenants, ensuring consistent income growth. The property benefits from a prime location in the affluent Katy submarket, shadow-anchored to a high-performing Kroger and situated along the Grand Parkway (SH-99), experiencing over 118,000 vehicles per day, providing excellent visibility and signage opportunities. The area's average household income exceeds $122,000 within a 3-mile radius, nearly double the national average. This thriving location is near LaCenterra, a significant upscale mixed-use development, and the Cinco Ranch master-planned community, home to over 15,000 residences. The proximity to national retailers such as Costco, Academy Sports + Outdoors, Sprouts Farmers Market, Cato Fashions, Starbucks, and Jersey Mike's Subs further enhances the property's desirability and potential for long-term growth. The asking price is $5,420,000. This is a rare opportunity to acquire a high-performing, well-located retail investment in a rapidly growing market.

• Alternative Use

  Use

  Valuation

  Residential

  $23,954,602

  Hospitality

  $21,942,286

  Educational

  $18,255,724

  Medical

  $18,883,568

  Retail

  $28,397,794

Location Insight

City

Katy

County

Fort Bend

State

Texas

Latitude

29.7603

Longitude

-95.7782

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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