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Shopping Strip

Chelsea Square II

5020 FM 1960, Houston, TX 77069

Listing Price: $7,071,000

Cap Rate
7.00%
Gross SF
70,275
Rentable SF
70,275
Price/Gross SF
$100.62
Lot Size
4.50 acres
Year Built
1984

Investment Overview

The subject property is a 70,275 SF multi-tenant retail center situated on 4.5 acres in north Houston. The retail center is located at the intersection of FM 1960 (Cypress Creek Parkway) & Wunderlich Drive. The center is positioned in a retail corridor between large retail boxes with Target and TJ Maxx to the West, and Walmart, Ross, Home Depot and Hobby Lobby to the East. The property is situated at signalized intersection and has three driveways which allows for easy access to and from the center. The property is 73.8 percent occupied providing upside from leasing the vacant spaces. The average rental rate for the tenants is $12.75 PSF. The asking price per square foot for the center is $100. All leases are NNN which require all tenants to pay CAM, Taxes, Insurance and a Management Fee.

Investment Highlights

  • Upside From Vacancy of 26%
  • AHHI within 5-mile Radius is $101,361
  • Population within 5-mile Radius is 311,343
  • Average Daily Car Count is 68,814

Exclusively Listed By

Financing By

Shopping Strip

Chelsea Square II

Listing Price: $7,071,000

Cap Rate
7.00%
Gross SF
70,275
Rentable SF
70,275
Price/Gross SF
$100.62
Lot Size
4.50 acres
Year Built
1984

Investment Highlights

  • Upside From Vacancy of 26%
  • AHHI within 5-mile Radius is $101,361
  • Population within 5-mile Radius is 311,343
  • Average Daily Car Count is 68,814

Investment Overview

The subject property is a 70,275 SF multi-tenant retail center situated on 4.5 acres in north Houston. The retail center is located at the intersection of FM 1960 (Cypress Creek Parkway) & Wunderlich Drive. The center is positioned in a retail corridor between large retail boxes with Target and TJ Maxx to the West, and Walmart, Ross, Home Depot and Hobby Lobby to the East. The property is situated at signalized intersection and has three driveways which allows for easy access to and from the center. The property is 73.8 percent occupied providing upside from leasing the vacant spaces. The average rental rate for the tenants is $12.75 PSF. The asking price per square foot for the center is $100. All leases are NNN which require all tenants to pay CAM, Taxes, Insurance and a Management Fee.

Exclusively Listed By

Financing By

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