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Shopping Strip

Broadway Plaza - Phase II

11940 Broadway St, Pearland, TX 77584

Listing Price: $5,522,500

Cap Rate
6.50%
Gross SF
10,700
Rentable SF
10,700
Price/Gross SF
$516.12
Lot Size
1.55 acres
Year Built
2022

Investment Overview

Broadway Plaza - Phase II is a stabilized 10,700-square-foot, multi-tenant retail center located in a high-growth area in Pearland, Texas. All in place leases have new 10-year, triple-net term. Tenants are a complementary mix of regional and local retailers, including The Lash Lounge, Pet Supplies Plus, and Kolache Shoppe. Situated on a 1.55-acre lot, the building is new 2022 construction with an attractive modern façade featuring metal awnings. The end cap suite for the Kolache Shoppe features a drive-through window. Double-sided pylon signage provides additional exposure.

The subject property is in a prime location, positioned near the intersection of Broadway Street and Kirby Drive with close access to State Highway 288, a major thoroughfare that connects Downtown Houston and Brazoria County. Traffic counts in front of the property on Broadway Street are approximately 44,760 vehicles per day. The building is adjacent to Broadway Plaza - Phase I, with tenants including Black Rock Coffee Bar, Broadway Dental, Ong Jas Vietnamese Restaurant, Thaicoon Restaurant and Pub, and Jeremiahs' Italian Ice Cream. Numerous national and regional retailers are in the surrounding area, including H-E-B, Five Below, TJ Maxx, Ross Dress For Less, Rack Room Shoes, Petco, At Home, Carter's, Bath & Body Works, Academy, Hobby Lobby, Ashley Furniture, Burlington, Starbucks, ALDI, McDonalds, Wells Fargo, Jamba Juice, Chick-Fil-A, Verizon, Wingstop, AT&T, My Eyelab, Jersey Mike's, and many more.

Investment Highlights

  • 10,700-Square-Foot, Multi-Tenant Retail Center | 100% Leased | All Leases are Triple-Net
  • All In Place Leases are New 10-Year Terms with Options for Renewal
  • New (2022) Construction Featuring Metal Awnings | Situated on a 1.55-Acre Parcel with a Concrete Parking Lot | Kolache Shoppe End Cap Suite Features a Drive-Through Window
  • Located in a High-Growth Area Near the Intersection of State Highway 288 (Major Thoroughfare) and Broadway Street | Traffic Counts on Broadway Street are Approximately 44,760 Vehicles per Day | State Highway 288 has Extremely High Traffic Counts of 87,007 Vehicles per Day

Exclusively Listed By

Shopping Strip

Broadway Plaza - Phase II

Listing Price: $5,522,500

Cap Rate
6.50%
Gross SF
10,700
Rentable SF
10,700
Price/Gross SF
$516.12
Lot Size
1.55 acres
Year Built
2022

Investment Highlights

  • 10,700-Square-Foot, Multi-Tenant Retail Center | 100% Leased | All Leases are Triple-Net
  • All In Place Leases are New 10-Year Terms with Options for Renewal
  • New (2022) Construction Featuring Metal Awnings | Situated on a 1.55-Acre Parcel with a Concrete Parking Lot | Kolache Shoppe End Cap Suite Features a Drive-Through Window
  • Located in a High-Growth Area Near the Intersection of State Highway 288 (Major Thoroughfare) and Broadway Street | Traffic Counts on Broadway Street are Approximately 44,760 Vehicles per Day | State Highway 288 has Extremely High Traffic Counts of 87,007 Vehicles per Day

Investment Overview

Broadway Plaza - Phase II is a stabilized 10,700-square-foot, multi-tenant retail center located in a high-growth area in Pearland, Texas. All in place leases have new 10-year, triple-net term. Tenants are a complementary mix of regional and local retailers, including The Lash Lounge, Pet Supplies Plus, and Kolache Shoppe. Situated on a 1.55-acre lot, the building is new 2022 construction with an attractive modern façade featuring metal awnings. The end cap suite for the Kolache Shoppe features a drive-through window. Double-sided pylon signage provides additional exposure. The subject property is in a prime location, positioned near the intersection of Broadway Street and Kirby Drive with close access to State Highway 288, a major thoroughfare that connects Downtown Houston and Brazoria County. Traffic counts in front of the property on Broadway Street are approximately 44,760 vehicles per day. The building is adjacent to Broadway Plaza - Phase I, with tenants including Black Rock Coffee Bar, Broadway Dental, Ong Jas Vietnamese Restaurant, Thaicoon Restaurant and Pub, and Jeremiahs' Italian Ice Cream. Numerous national and regional retailers are in the surrounding area, including H-E-B, Five Below, TJ Maxx, Ross Dress For Less, Rack Room Shoes, Petco, At Home, Carter's, Bath & Body Works, Academy, Hobby Lobby, Ashley Furniture, Burlington, Starbucks, ALDI, McDonalds, Wells Fargo, Jamba Juice, Chick-Fil-A, Verizon, Wingstop, AT&T, My Eyelab, Jersey Mike's, and many more.

Exclusively Listed By

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