3000 Kirby DrPearland, TX 77584

Property Details for 3000 Kirby Dr

Year built

2017

Lot size

9.29 AC

Property size (Sq ft)

107,915 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

5657-2001-005

APU

56572001005

Description

This exceptional investment opportunity presents a fee-simple interest in a 108,403-square-foot At Home store located at 3000 Kirby Dr, Pearland, TX 77584, within the Houston MSA. The property, built in 2017, sits on a substantial 9.29-acre lot and features a single-tenant, absolute NNN lease with a corporate guarantee. The lease, commencing July 1, 2017, has a remaining term of approximately 10.6 years, extending to June 30, 2035, with annual rent bumps of 2.00%. Four five-year lease options are included. The property is 100% occupied and benefits from its location across from Pearland Town Center, a thriving mixed-use development attracting nearly 6 million visitors annually. The area boasts significant growth, with a 66% population increase within a 3-mile radius since 2010, and 445,000 square feet of new commercial space delivered within a 1-mile radius since 2021. Highway 288, with an average daily traffic volume of 80,000 vehicles, provides excellent accessibility. This offering presents a strong cash flow with minimal landlord responsibilities and significant future development potential. The property is classified as Class B and is a single-story building. The average household income within a 1-mile radius is $163,000.

• CAP approach

  CAP return

  Valuation

  6%

  $32,488,722

  6.5%

  $29,989,590

  7%

  $27,847,476

• Comparable approach

  Method

  Valuation

  Relative Method

  $40,196,116

  Geo Method

  $81,417,856

• Alternative Use

  Use

  Valuation

  Residential

  $25,297,340

  Hospitality

  $23,172,228

  Educational

  $19,279,022

  Medical

  $19,942,056

  Retail

  $29,989,590

Location Insight

City

Pearland

County

Brazoria

State

Texas

Latitude

29.5539

Longitude

-95.3999

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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