Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Greenhouse at I-10 Retail Center, located at 19304 Katy Freeway in Houston, Texas. This 14,000-square-foot retail center is situated on a two acre parcel located at the northwest quadrant of Interstate 10 and Greenhouse Road. The subject property is offered a price of $4,700,000, at $336/SF to the building. With a land value of $35/SF or higher, this opportunity allows a user or investor to purchase the property below the cost of the land plus building shell cost, while benefiting from a leased urgent care co-tenant. 4,000 square feet of the property are leased to Excel Urgent Care, a multi-location healthcare provider. The remaining 10,000 square feet are vacant and in shell-condition. The offering is priced favorably for an investor to lease the available space at below market rents for faster lease up, or for an owner-user to build the space how they want it at a favorable cost-basis. If an investor leases the 10,000 square feet at a below market rate of $27.00 per square foot plus triple-net, the pro forma cap rate would be approximately 8.50 percent. Strategically positioned near major healthcare hubs such as Houston Methodist West Hospital and Texas Children’s Hospital West Campus, the property benefits from proximity to significant employment and patient traffic, enhancing its appeal for both medical and retail tenants. Other nearby retailers include: Pluckers Wing Bar, CAVA, Taco Deli, Chick-Fil-A, and Starbucks.