Shopping Strip
Spring Green II
10625 Spring Green Blvd, Katy, TX 77494
Listing Price: $3,362,000
Investment Overview
The subject property is a 6,000 SF retail center, built in 2022, and situated on 0.7 acres in the heart of Cinco Ranch which is located in Katy, TX. The retail center is located at a signalized intersection on the northwest corner of Spring Green and Cinco Ranch Blvd. The other two intersections are occupied by McDonald’s and a CVS drug store. The retail center consists of two tenants. Next Level Medical occupies 76.9% of the lease space while Gong Cha occupies 23.1% of the lease space. Next Level Medical has 40 locations in Houston, Austin, San Antonio, and Beaumont. Next Level Medical was founded by CEO, Dr Juliet S. Breeze on the belief that it was possible to provide high quality cost-effective medical care for all for all who need immediate attention for non-life-threatening illness and injuries. Gong Cha sells teas, bubble teas, tapioca drinks, slushes, lattes, coffees and other non-alcoholic beverages. It was founded in 2006 in Taiwan with headquarters in London. Gong Cha has over 150 stores in the United States and 1,100 in 20 counties Both leases require the tenants to reimburse the landlord for taxes, insurance, and common area expenses.
Exclusively Listed By
Listing Price: $3,362,000
Investment Highlights
- Both lease terms are in excess of 5 years
- Both tenants have rent escalations during their primary term
- AHHI: $187,000 within 1-mile radius and $189,000 within 3-mile radius
- Population within 3-mile radius is 138,000
Investment Overview
The subject property is a 6,000 SF retail center, built in 2022, and situated on 0.7 acres in the heart of Cinco Ranch which is located in Katy, TX. The retail center is located at a signalized intersection on the northwest corner of Spring Green and Cinco Ranch Blvd. The other two intersections are occupied by McDonald’s and a CVS drug store. The retail center consists of two tenants. Next Level Medical occupies 76.9% of the lease space while Gong Cha occupies 23.1% of the lease space. Next Level Medical has 40 locations in Houston, Austin, San Antonio, and Beaumont. Next Level Medical was founded by CEO, Dr Juliet S. Breeze on the belief that it was possible to provide high quality cost-effective medical care for all for all who need immediate attention for non-life-threatening illness and injuries. Gong Cha sells teas, bubble teas, tapioca drinks, slushes, lattes, coffees and other non-alcoholic beverages. It was founded in 2006 in Taiwan with headquarters in London. Gong Cha has over 150 stores in the United States and 1,100 in 20 counties Both leases require the tenants to reimburse the landlord for taxes, insurance, and common area expenses.
Exclusively Listed By
