Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Garth Road Shopping Center located at 3000 Garth Road in Baytown, Texas. This 4,800 square foot retail center is located on approximately 0.57 acres on the hard corner of Garth Road and Harold Lane. The subject property is 100 percent economically occupied, accommodating three tenants. Twenty-five percent of the center is leased by Ace Cash Express. All tenant leases are triple-net, protecting an investor from possible increases in future expenses. An investor has the option to assume a pre-existing loan at an interest rate of 5.875 percent. Said interest rate will be reset after approximately five years. There is no pre-payment penalty if the rate adjustment is unfavorable and not accepted by the borrower. The assumable loan interest rate is well below the current market rate, increasing the profitability of the property. Creekwood/Glen Arbor neighborhood is located behind Garth Road Shopping Center. Additionally, two large medical offices are located across the street. North Highway 146 is easily accessible, being 0.2 miles away from the property. Major employers in the area are the ExxonMobil Refinery, Chevron Phillips Chemical Company, Bayer Material Science Company, San Jacinto Methodist Hospital, Lee College, a Walmart Distribution Center, and a Home Depot Distribution Center. Baytown boasts a growing economy and significance as a regional trade area. Its industrial base includes many internationally known companies in oil refining, rubber, chemical and plastics. Employers include Exxon/Mobil Baytown Refinery, ExxonMobil Chemical, Exxon/Mobil Baytown, Olefins, Chevron Phillips Chemical, Bayer Baytown Industrial Park, Koppel Steel, Jindal Steel, and Exxon/Mobil Basic Chemicals.