Shopping Strip
Seabrook Shopping Center
603-615 Kirby Rd, Seabrook, TX 77586
Listing Price: $2,025,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale Seabrook Shopping Center, located at 603-615 Kirby Road in Seabrook, Texas 77586. This 10,025 square foot shopping center, situated on .76 acres was built in 1969 and extensively renovated in 2015.
The Subject Property is offered for sale at a price of $2,025,000, which is priced below replacement cost at $202 per square foot to the building. Seabrook Shopping Center’s CAP Rate is a strong 7.66 percent. An investor can add value to the property by converting gross leases to triple-net lease structures and raising rental rates. The average annual rental rate is only $19.39 per square foot on a full-service gross lease, which is very affordable and sustainable for existing tenants.
Seabrook Shopping Center is one hundred percent economically occupied by strong, professional tenants with staggered lease terms. Suite 613-B recently became available for lease, of which, Seller shall escrow three year’s rent payments to guarantee a Master Lease, which Seller will sign with Buyer at Closing at a Gross rate of $1,781.25 per month.
Seabrook Shopping Center
Investment Highlights
- Attractive 7.66 Percent CAP Rate Day-One
- Internet-Resistant Stable Tenants on Staggered Leases
- Priced Below Replacement Cost
- Average Household Income of $144,824 Within One Mile and $131,899 Within Three Miles
- Beautiful, Well-Maintained Property With High-Quality Exterior Finishings and Interior Buildouts
Exclusively Listed By
Financing By
Listing Price: $2,025,000
Investment Highlights
- Attractive 7.66 Percent CAP Rate Day-One
- Internet-Resistant Stable Tenants on Staggered Leases
- Priced Below Replacement Cost
- Average Household Income of $144,824 Within One Mile and $131,899 Within Three Miles
- Beautiful, Well-Maintained Property With High-Quality Exterior Finishings and Interior Buildouts
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale Seabrook Shopping Center, located at 603-615 Kirby Road in Seabrook, Texas 77586. This 10,025 square foot shopping center, situated on .76 acres was built in 1969 and extensively renovated in 2015. The Subject Property is offered for sale at a price of $2,025,000, which is priced below replacement cost at $202 per square foot to the building. Seabrook Shopping Center’s CAP Rate is a strong 7.66 percent. An investor can add value to the property by converting gross leases to triple-net lease structures and raising rental rates. The average annual rental rate is only $19.39 per square foot on a full-service gross lease, which is very affordable and sustainable for existing tenants. Seabrook Shopping Center is one hundred percent economically occupied by strong, professional tenants with staggered lease terms. Suite 613-B recently became available for lease, of which, Seller shall escrow three year’s rent payments to guarantee a Master Lease, which Seller will sign with Buyer at Closing at a Gross rate of $1,781.25 per month.
Exclusively Listed By
Financing By
