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Shopping Strip

Wingate Shopping Center

15965 Westheimer Rd, Houston, TX 77082

Listing Price: $3,000,000

Cap Rate
7.13%
Gross SF
21,100
Rentable SF
21,100
Price/Gross SF
$142.18
Lot Size
1.96 acres
Year Built
1982

Investment Overview

The subject property is a 21,100 SF fully occupied shopping center situated on 1.96 acres in Houston, TX. Wingate shopping center is located west of Highway 6 and North of Westpark Tollway at the signalized intersection of Westheimer Road and Vineyard Drive. The center is south of West Oaks mall and surrounded by apartments, townhomes, residential neighborhoods, and directly across George Bush Park. Shell Technology Center, the largest of the three Shell technology hubs, sits just east of the subject property. The Shell Center is situated on 200 acres with 44 buildings and about 1.2 million square feet of laboratory/office space with six of the eleven Shell Chief Scientists. Wingate shopping center provides the upside of a fully occupied center on Westheimer below replacement costs at $142/SF and below market rents at an average of $12/SF. The property includes long-term tenants with a mix of NNN and gross leases. The center was fully renovated in 2014 and has three access points with abundant parking. Within three miles, the population totals over 116,641 and average household incomes are $89,901.

Investment Highlights

  • 100 Percent Occupied | NNN & Gross Leases
  • Below Market Rents | Below Replacement Costs
  • Hard Corner | Signalized Intersection
  • Near Shell Technology Center| Directly Across George Bush Park
  • Surrounded By and Adjacent To Apartments, Townhomes, and Residential Neighborhoods
  • Three Mile Radius: $89,901 AHHI | 116,641 Population

Exclusively Listed By

Financing By

Shopping Strip

Wingate Shopping Center

Listing Price: $3,000,000

Cap Rate
7.13%
Gross SF
21,100
Rentable SF
21,100
Price/Gross SF
$142.18
Lot Size
1.96 acres
Year Built
1982

Investment Highlights

  • 100 Percent Occupied | NNN & Gross Leases
  • Below Market Rents | Below Replacement Costs
  • Hard Corner | Signalized Intersection
  • Near Shell Technology Center| Directly Across George Bush Park
  • Surrounded By and Adjacent To Apartments, Townhomes, and Residential Neighborhoods
  • Three Mile Radius: $89,901 AHHI | 116,641 Population

Investment Overview

The subject property is a 21,100 SF fully occupied shopping center situated on 1.96 acres in Houston, TX. Wingate shopping center is located west of Highway 6 and North of Westpark Tollway at the signalized intersection of Westheimer Road and Vineyard Drive. The center is south of West Oaks mall and surrounded by apartments, townhomes, residential neighborhoods, and directly across George Bush Park. Shell Technology Center, the largest of the three Shell technology hubs, sits just east of the subject property. The Shell Center is situated on 200 acres with 44 buildings and about 1.2 million square feet of laboratory/office space with six of the eleven Shell Chief Scientists. Wingate shopping center provides the upside of a fully occupied center on Westheimer below replacement costs at $142/SF and below market rents at an average of $12/SF. The property includes long-term tenants with a mix of NNN and gross leases. The center was fully renovated in 2014 and has three access points with abundant parking. Within three miles, the population totals over 116,641 and average household incomes are $89,901.

Exclusively Listed By

Financing By

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