Shopping Strip

515 Westheimer

515 Westheimer Rd, Houston, TX 77006

Listing Price: Request For Offer

Gross SF
13,102
Rentable SF
13,102
Lot Size
0.89 acres
Year Built
2000

Investment Overview

Marcus & Millichap is pleased to offer 515 Westheimer (Property) in Houston, Texas for your consideration. Consisting of a 13,102 square foot shopping center on a 0.89 acre corner parcel, the Property fronts on high-traffic Westheimer Road and is 100 percent leased. Tenants at 515 Westheimer have NNN leases that provide for full pass through of the Propertys operating expenses, and several of them have structured rent increases providing for built-in upside and an appealing hedge against inflation.

515 Westheimer is prominently located in the Montrose neighborhood of Houstons inner loop. Montrose is characterized by its central location and diverse collection of art galleries, boutiques, restaurants, and bars. Many of these regularly receive national acclaim, making Montrose the hub of Houstons hip dining and shopping scene. The neighborhoods close proximity to the Texas Medical Center, Downtown Houston, and the Museum District has spurred key new developments recently, as well.

One block away from 515 Westheimer is the new Montrose Collective development, a near 200,000 square foot mixed-use development thats transforming almost 2.5 acres of underutilized real estate adjacent to the Property. Major new residential development has also benefitted the neighborhood. The Hanover Montrose, a 31-story, 327 unit apartment tower was completed in 2017 and sits walking distance to 515 Westheimer. More recently, a joint venture led by Hines is completing the 34-story, 285 unit La Colombe dOr Hotel & Residences, which is also walking distance to 515 Westheimer.

515 Westheimer provides investors the opportunity to acquire a well-established piece of Montrose real estate at a time where the areas continued growth should result in rising sales for its businesses, and solid value for its owner.

Investment Highlights

  • 13,102 Square Foot Shopping Center | 2000 Construction
  • 0.89 Acre Corner Parcel Fronting High Traffic Westheimer
  • 100% Occupied | NNN Leases
  • Premium Location in Houstons Montrose Neighborhood
  • Major New Developments Adjacent to Property and Nearby
  • Located in the Heart of Houstons Urban Core

Exclusively Listed By

Listing Price: Request For Offer

Gross SF
13,102
Rentable SF
13,102
Lot Size
0.89 acres
Year Built
2000

Investment Highlights

  • 13,102 Square Foot Shopping Center | 2000 Construction
  • 0.89 Acre Corner Parcel Fronting High Traffic Westheimer
  • 100% Occupied | NNN Leases
  • Premium Location in Houstons Montrose Neighborhood
  • Major New Developments Adjacent to Property and Nearby
  • Located in the Heart of Houstons Urban Core

Investment Overview

Marcus & Millichap is pleased to offer 515 Westheimer (Property) in Houston, Texas for your consideration. Consisting of a 13,102 square foot shopping center on a 0.89 acre corner parcel, the Property fronts on high-traffic Westheimer Road and is 100 percent leased. Tenants at 515 Westheimer have NNN leases that provide for full pass through of the Propertys operating expenses, and several of them have structured rent increases providing for built-in upside and an appealing hedge against inflation.

515 Westheimer is prominently located in the Montrose neighborhood of Houstons inner loop. Montrose is characterized by its central location and diverse collection of art galleries, boutiques, restaurants, and bars. Many of these regularly receive national acclaim, making Montrose the hub of Houstons hip dining and shopping scene. The neighborhoods close proximity to the Texas Medical Center, Downtown Houston, and the Museum District has spurred key new developments recently, as well.

One block away from 515 Westheimer is the new Montrose Collective development, a near 200,000 square foot mixed-use development thats transforming almost 2.5 acres of underutilized real estate adjacent to the Property. Major new residential development has also benefitted the neighborhood. The Hanover Montrose, a 31-story, 327 unit apartment tower was completed in 2017 and sits walking distance to 515 Westheimer. More recently, a joint venture led by Hines is completing the 34-story, 285 unit La Colombe dOr Hotel & Residences, which is also walking distance to 515 Westheimer.

515 Westheimer provides investors the opportunity to acquire a well-established piece of Montrose real estate at a time where the areas continued growth should result in rising sales for its businesses, and solid value for its owner.

Exclusively Listed By

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