Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Highway 290 Shopping Center, located at 25402 Northwest Freeway in Cypress, Texas. Strategically positioned along the highly trafficked Highway 290 retail corridor, this 10,200-square-foot retail center is a compelling investment opportunity in one of Northwest Houston’s most dynamic suburban markets. Built in 2021 and 100 percent occupied, the property delivers a stabilized income stream from two tenants with established operations, including a long-term lease commitment for the urgent care operator. There is value-add potential as Texas Floors’ lease converts from gross to triple-net upon commencement of the five-year renewal option beginning May 1, 2027. The location benefits from over 400 feet of frontage on Highway 290, with daily traffic counts exceeding 100,000 vehicles, excellent visibility, and access that supports sustained retail demand. The property is located near Houston Methodist Cypress Hospital and the main entrance to Cole’s Crossing, an affluent master-planned community with strong demographic metrics— average household incomes in excess of $130,000 within a 1-mile radius— underscoring a robust local consumer base. Highway 290 Shopping Center is offered at a price of $4,731,000, which represents a Day 1 cap rate of 6.70 percent and a Pro Forma cap rate of 7.20 percent. With proximity to major retailers and service providers along the Spring Cypress retail node, the asset is well-positioned for long-term value retention and potential future upside.