1701 Fairway DrAlvin, TX 77511

Property Details for 1701 Fairway Dr

Year built

1980

Lot size

7.87 AC

Property size (Sq ft)

67,723 SF

Property type

Retail properties

Property subtype

Strip malls

APN

0161-0057-130

APU

1610057130

Description

Invest in the Fairway Shopping Center, a prime retail property situated at the intersection of Hwy 35 South and Fairway in Brazoria County. This 91,360 square foot center boasts a strong national tenant presence, anchored by Planet Fitness, and surrounded by complementary businesses including Palais Royal, Rue 21, and Cici's Pizza. Currently, there are three suites available, with a significant 72,838 square feet of vacant space presenting a unique opportunity for expansion or new tenancy. The property sits on 8.52 acres of land and was built in 1983. Its strategic location offers exceptional visibility from Hwy 35, ensuring high traffic and customer exposure. The center also benefits from its proximity to Alvin Community College, providing a substantial customer base. Ample on-site parking and easy access in and out of the center further enhance its appeal. In addition to the retail space, warehouse space is also available for lease, adding to the property's versatility and investment potential. This is a rare opportunity to acquire a well-located retail center with significant upside potential in a growing market. The existing tenant mix provides a solid foundation for future growth and expansion.

• CAP approach

  CAP return

  Valuation

  6%

  $20,388,580

  6.5%

  $18,820,228

  7%

  $17,475,926

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,225,422

  Geo Method

  $51,094,484

• Alternative Use

  Use

  Valuation

  Residential

  $15,875,567

  Hospitality

  $14,541,934

  Educational

  $12,098,718

  Medical

  $12,514,812

  Retail

  $18,820,228

Location Insight

City

Alvin

County

Brazoria

State

Texas

Latitude

29.4064

Longitude

-95.2324

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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