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Shopping Strip

One Mason Plaza

811 Mason Rd, Katy, TX 77450

Listing Price: $16,330,000

Cap Rate
6.25%
Gross SF
75,183
Rentable SF
75,183
Price/Gross SF
$217.20
Lot Size
5.09 acres
Year Built
1983

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 75,183-square-foot, multi-tenant retail center located in Katy, Texas. One Mason Plaza is currently 90 percent occupied, providing upside potential in leasing the remaining vacancies. All leases are triple-net, and many leases have scheduled rent escalations during their remaining terms. Tenants are a complementary mix of internet-resistant and service-oriented businesses, including Proactive Lifestyle Fitness, Alrawshe Mediterranean Grill, J&D Caribbean Cuisine, Taqueria La Real, Colombia House Bakery & Cafe, Kickboxing, Scents by Jennifer, Massage Zone, Savage Grill, Tracy Nails & Spa, Koldprezz, Detail Garage, Bombay Palace Indian Restaurant, The Cellar Door Winery, Lone Star Floors, Alsafa Imports, Regional Finance, Happy Tails Dog Grooming, Einstein's Pub, and others. The center is comprised of three buildings that were constructed in 1983 and are situated on a large 5.09-acre parcel with ample concrete parking. A large double-sided pylon sign provides additional exposure to the center. One Mason Plaza is well positioned near the intersection of Mason Road and Cimarron Parkway. Mason Road is a major north-south thoroughfare and enjoys high traffic counts of approximately 43,469 vehicles per day. The center is located in a densely populated area, neighbored by numerous national and regional tenants including Big Lots, Tuesday Morning, Dairy Queen, Scooter's Coffee, Jack in the Box, KFC, Smoothie King, Panda Express, 99 Ranch Market, Daiso, Harbor Freight Tools, 99 Cents Only Stores, Dollar Tree, Fiesta Mart, Fitness Connection, H-E-B, CVS Pharmacy, Petco, Saltgrass Steakhouse, and many more. The surrounding area has desirable demographics, serving a dense residential area of 287,884 residents within a five-mile radius. The average household income within a one-mile radius is $88,366; $118,338 within a three-mile radius; and $121,660 within a five-mile radius.

Investment Highlights

  • 75,183-Square-Foot, Multi-Tenant Neighborhood Retail Center Located in the Highly Desirable Houston Suburb of Katy, Texas
  • 90% Occupied | All Leases are Triple-Net | Upside Potential in Leasing Vacancies | Pro Forma Cap Rate is 7.40%
  • Current Average Rents are Below Market
  • Comprised of Three Multi-Tenant Buildings Situated on a Large 5.09-Acre Parcel with Ample Parking | Double-Sided Pylon Sign at the Entrance Enhances Visibility
  • High Traffic Counts | Approximately 43,469 Vehicles per Day on Mason Road | One of the City's Major North-South Thoroughfares

Exclusively Listed By

Shopping Strip

One Mason Plaza

Listing Price: $16,330,000

Cap Rate
6.25%
Gross SF
75,183
Rentable SF
75,183
Price/Gross SF
$217.20
Lot Size
5.09 acres
Year Built
1983

Investment Highlights

  • 75,183-Square-Foot, Multi-Tenant Neighborhood Retail Center Located in the Highly Desirable Houston Suburb of Katy, Texas
  • 90% Occupied | All Leases are Triple-Net | Upside Potential in Leasing Vacancies | Pro Forma Cap Rate is 7.40%
  • Current Average Rents are Below Market
  • Comprised of Three Multi-Tenant Buildings Situated on a Large 5.09-Acre Parcel with Ample Parking | Double-Sided Pylon Sign at the Entrance Enhances Visibility
  • High Traffic Counts | Approximately 43,469 Vehicles per Day on Mason Road | One of the City's Major North-South Thoroughfares

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 75,183-square-foot, multi-tenant retail center located in Katy, Texas. One Mason Plaza is currently 90 percent occupied, providing upside potential in leasing the remaining vacancies. All leases are triple-net, and many leases have scheduled rent escalations during their remaining terms. Tenants are a complementary mix of internet-resistant and service-oriented businesses, including Proactive Lifestyle Fitness, Alrawshe Mediterranean Grill, J&D Caribbean Cuisine, Taqueria La Real, Colombia House Bakery & Cafe, Kickboxing, Scents by Jennifer, Massage Zone, Savage Grill, Tracy Nails & Spa, Koldprezz, Detail Garage, Bombay Palace Indian Restaurant, The Cellar Door Winery, Lone Star Floors, Alsafa Imports, Regional Finance, Happy Tails Dog Grooming, Einstein's Pub, and others. The center is comprised of three buildings that were constructed in 1983 and are situated on a large 5.09-acre parcel with ample concrete parking. A large double-sided pylon sign provides additional exposure to the center. One Mason Plaza is well positioned near the intersection of Mason Road and Cimarron Parkway. Mason Road is a major north-south thoroughfare and enjoys high traffic counts of approximately 43,469 vehicles per day. The center is located in a densely populated area, neighbored by numerous national and regional tenants including Big Lots, Tuesday Morning, Dairy Queen, Scooter's Coffee, Jack in the Box, KFC, Smoothie King, Panda Express, 99 Ranch Market, Daiso, Harbor Freight Tools, 99 Cents Only Stores, Dollar Tree, Fiesta Mart, Fitness Connection, H-E-B, CVS Pharmacy, Petco, Saltgrass Steakhouse, and many more. The surrounding area has desirable demographics, serving a dense residential area of 287,884 residents within a five-mile radius. The average household income within a one-mile radius is $88,366; $118,338 within a three-mile radius; and $121,660 within a five-mile radius.

Exclusively Listed By

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