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Shopping Strip

Eastwood Center

1318 Telephone Rd, Houston, TX 77023

Listing Price: $2,347,351

Cap Rate
7.00%
Gross SF
7,866
Rentable SF
7,866
Price/Gross SF
$298.42
Lot Size
0.41 acres
Year Built
1928

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Eastwood Center, located at 1302 & 1318 Telephone Road, Houston, Texas 77023. Eastwood Center is 100 percent occupied by four tenants in total; 1318 Telephone Road accommodates three tenants while 1302 Telephone Road is occupied by one tenant. Eastwood Center provides an investor with a day-one CAP rate of seven percent. The weighted-average lease term is five years, providing a Buyer with a stable cash flow. Additionally, 89 percent of the property features annual rental increases, which serves as a hedge towards increased inflation and built-in upside. Eastwood Center is located in the Greater Eastwood Area, which is seeing significant growth and gentrification. The Greater Eastwood Area is in close proximity to East Downtown, which is one of Houston’s fastest re-developing areas. The property is surrounded by hip restaurants, cafes, bars and businesses, which attract young professionals to live in close proximity to the property, ultimately improving demographics and disposable income in the area.

Investment Highlights

  • 7.00% Year 1 CAP Rate
  • 100% Occupied | 89% NNN Leases
  • Prime Location In Houston's Historic Greater Eastwood Neighborhood
  • Area Is Actively Transitioning Into Houston's Next Premier Urban Destination
  • 1 Mile From University of Houston Main Campus | 2.5 Miles From PNC Stadium | 3 Miles From Minute Maid Park

Exclusively Listed By

Financing By

Shopping Strip

Eastwood Center

Listing Price: $2,347,351

Cap Rate
7.00%
Gross SF
7,866
Rentable SF
7,866
Price/Gross SF
$298.42
Lot Size
0.41 acres
Year Built
1928

Investment Highlights

  • 7.00% Year 1 CAP Rate
  • 100% Occupied | 89% NNN Leases
  • Prime Location In Houston's Historic Greater Eastwood Neighborhood
  • Area Is Actively Transitioning Into Houston's Next Premier Urban Destination
  • 1 Mile From University of Houston Main Campus | 2.5 Miles From PNC Stadium | 3 Miles From Minute Maid Park

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Eastwood Center, located at 1302 & 1318 Telephone Road, Houston, Texas 77023. Eastwood Center is 100 percent occupied by four tenants in total; 1318 Telephone Road accommodates three tenants while 1302 Telephone Road is occupied by one tenant. Eastwood Center provides an investor with a day-one CAP rate of seven percent. The weighted-average lease term is five years, providing a Buyer with a stable cash flow. Additionally, 89 percent of the property features annual rental increases, which serves as a hedge towards increased inflation and built-in upside. Eastwood Center is located in the Greater Eastwood Area, which is seeing significant growth and gentrification. The Greater Eastwood Area is in close proximity to East Downtown, which is one of Houston’s fastest re-developing areas. The property is surrounded by hip restaurants, cafes, bars and businesses, which attract young professionals to live in close proximity to the property, ultimately improving demographics and disposable income in the area.

Exclusively Listed By

Financing By

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