Shopping Strip
Westbrae Landing Center
10704 S Gessner Rd, Houston, TX 77071
Listing Price: $4,950,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale Westbrae Landing Center, a neighborhood shopping center with 33,400 square feet of leasable area on two acres. The subject property is located at 10702 South Gessner Road in Houston, Texas, a location benefiting from a dense residential population of nearly 200,000 people within three miles of the site.
Westbrae Landing Center is offered for a price of $4,950,000 at a 7.74 percent cap rate. The property’s tenants benefit from affordable rents, averaging base rents of less than $12 per square foot, plus triple-nets. The low rents allow for an investor to have opportunity to raise rents over the hold period. Neighboring shopping centers’ rental rates range from $14 to $18 dollars per square foot, plus triple-nets. By raising rents to an average of $14 dollars per square foot, plus triple-nets, the pro forma cap rate would increase to 9.5 percent.
Westbrae Landing Center
Investment Highlights
- Stabilized Property With Room to Add Value: The property has an attractive day one cap rate, and there is an upside potential through raising below market rents from $11 to $14/square foot.
- Dense Residential Population: Situated in southwest Houston, there are nearly 200,000 residents within three miles.
- Excellent Frontage to South Gessner Road: The property has more than 550 feet of frontage with access to nearly 23,000 vehicles per day.
- Diverse Tenant Mix: These tenants are seasoned, internet-resistant, service retailers.
Exclusively Listed By
Financing By
Listing Price: $4,950,000
Investment Highlights
- Stabilized Property With Room to Add Value: The property has an attractive day one cap rate, and there is an upside potential through raising below market rents from $11 to $14/square foot.
- Dense Residential Population: Situated in southwest Houston, there are nearly 200,000 residents within three miles.
- Excellent Frontage to South Gessner Road: The property has more than 550 feet of frontage with access to nearly 23,000 vehicles per day.
- Diverse Tenant Mix: These tenants are seasoned, internet-resistant, service retailers.
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale Westbrae Landing Center, a neighborhood shopping center with 33,400 square feet of leasable area on two acres. The subject property is located at 10702 South Gessner Road in Houston, Texas, a location benefiting from a dense residential population of nearly 200,000 people within three miles of the site. Westbrae Landing Center is offered for a price of $4,950,000 at a 7.74 percent cap rate. The property’s tenants benefit from affordable rents, averaging base rents of less than $12 per square foot, plus triple-nets. The low rents allow for an investor to have opportunity to raise rents over the hold period. Neighboring shopping centers’ rental rates range from $14 to $18 dollars per square foot, plus triple-nets. By raising rents to an average of $14 dollars per square foot, plus triple-nets, the pro forma cap rate would increase to 9.5 percent.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
