6500 Spencer HwyPasadena, TX 77505

Property Details for 6500 Spencer Hwy

Year built

2011

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.98 AC

Property size (Sq ft)

14,000 SF

Property type

Grocery and convenience stores

APN

211580010001

APU

211580010001

Description

The Spencer Strip Center offers a fantastic retail investment opportunity in a high-traffic location. This single-story, 21,600 square foot building, constructed in 2011, sits on a 1.5-acre lot and features two suites, with 5,700 square feet currently vacant. The minimum divisible space is 1,200 square feet, while the maximum contiguous space available is 3,500 square feet. The property boasts ample parking, with a ratio of 5 spaces per 1000 square feet. Its strategic location benefits from its proximity to a popular La Michoacana meat market and an apartment complex across the street, ensuring high visibility and foot traffic. The center is zoned commercial and features a large pylon sign for excellent branding opportunities. The low triple net (NNN) expenses make this a particularly attractive investment. This property is ideal for a variety of retail uses, including, but not limited to, dental clinics, offices, and hair salons, as indicated by its previous tenants. The existing infrastructure and convenient location provide a strong foundation for immediate occupancy and potential for significant return on investment. Don't miss this chance to secure a prime retail space in a thriving commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,392,010

  6.5%

  $3,131,080

  7%

  $2,907,440

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,152,100

  Geo Method

  $4,359,120

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,229,720

  Mixed-Use / Specialty

  $3,069,900

  Hospitality / Lodging

  $2,187,160

  Office

  $2,999,560

  Institutional / Educational

  $3,173,580

  Residential Income

  $3,713,090

  Multifamily

  $4,730,600

  Automotive / Energy

  $2,720,210

  Parking / Income-Based Land

  $988,134

  Restaurant / Food Service

  $1,489,920

  Healthcare / Senior Housing

  $3,199,420

Location Insight

City

Pasadena

County

Harris

State

Texas

Latitude

29.6643

Longitude

-95.1393

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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