Shopping Strip

Shops at Northpark

1310 Northpark Dr, Kingwood, TX 77339

Listing Price: $4,663,967

Cap Rate
4.69%
Gross SF
11,634
Rentable SF
11,634
Price/Gross SF
$400.89
Lot Size
1.81 acres
Year Built
2019

Investment Overview

Marcus & Millichap is pleased to offer Shops at Northpark (Property) for your consideration. Built in 2019, the property consists of an 11,634 square foot shopping center on an 1.81 acre parcel in Houstons acclaimed Kingwood, Texas. Shops at Northpark is 85 percent occupied with mostly NNN leases that provide for full pass through of the propertys expenses including a management fee. The Texas Military Department is currently on a month-to-month gross lease, which could easily be re-tenanted with a higher paying NNN tenant.
The Propertys tenants are a desirable mix of retailers that cater to the strong demographics in the submarket. They include Marcos Pizza, Texas Military Department, Smallcakes, Pinspiration, and The Bomb Wings & Puffy Tacos. Additional prominent retailers in the area include Kroger, H-E-B, Panera Bread, Chick-fil-a, Public Storage, Dairy Queen, and Christian Brothers Automotive among others. The Shops at Northpark offers achievable upside for the savvy investor by way of re-tenanting the Texas Military Department space and also leasing up the remaining vacancy.
Moreover, the Propertys highly-accessible location is a tremendous asset. Located less than one mile from Highway 69, and fronting on high traffic Northpark Drive, the Property benefits from the exposure afforded by over 36,000 vehicles passing by the property each day. Second only to Kingwood Drive, Northpark Drive is the main east west artery that provides freeway access to the Kingwood community of over 71,000 residents.
It is no surprise there has been so much retail interest along this attractive corridor.
Offered for $4,663,967, Shops at Northpark provides an investor the rare opportunity to acquire a recently constructed shopping center with NNN leases and upside through lease up in one of Houstons most sought-after suburban communities.

Investment Highlights

  • Fronts on High Traffic Northpark Drive | 36,000+ Vehicles Passing Each Day
  • Recent 2019 Construction | 74 Percent Occupied
  • 11,634 Square Foot Shopping Center | 1.81 Acre Parcel
  • NNN Leases | Upside thru Lease Up | Attractive Retail Corridor
  • Located in Houstons Highly Desirable Kingwood Community

Exclusively Listed By

Listing Price: $4,663,967

Cap Rate
4.69%
Gross SF
11,634
Rentable SF
11,634
Price/Gross SF
$400.89
Lot Size
1.81 acres
Year Built
2019

Investment Highlights

  • Fronts on High Traffic Northpark Drive | 36,000+ Vehicles Passing Each Day
  • Recent 2019 Construction | 74 Percent Occupied
  • 11,634 Square Foot Shopping Center | 1.81 Acre Parcel
  • NNN Leases | Upside thru Lease Up | Attractive Retail Corridor
  • Located in Houstons Highly Desirable Kingwood Community

Investment Overview

Marcus & Millichap is pleased to offer Shops at Northpark (Property) for your consideration. Built in 2019, the property consists of an 11,634 square foot shopping center on an 1.81 acre parcel in Houstons acclaimed Kingwood, Texas. Shops at Northpark is 85 percent occupied with mostly NNN leases that provide for full pass through of the propertys expenses including a management fee. The Texas Military Department is currently on a month-to-month gross lease, which could easily be re-tenanted with a higher paying NNN tenant.
The Propertys tenants are a desirable mix of retailers that cater to the strong demographics in the submarket. They include Marcos Pizza, Texas Military Department, Smallcakes, Pinspiration, and The Bomb Wings & Puffy Tacos. Additional prominent retailers in the area include Kroger, H-E-B, Panera Bread, Chick-fil-a, Public Storage, Dairy Queen, and Christian Brothers Automotive among others. The Shops at Northpark offers achievable upside for the savvy investor by way of re-tenanting the Texas Military Department space and also leasing up the remaining vacancy.
Moreover, the Propertys highly-accessible location is a tremendous asset. Located less than one mile from Highway 69, and fronting on high traffic Northpark Drive, the Property benefits from the exposure afforded by over 36,000 vehicles passing by the property each day. Second only to Kingwood Drive, Northpark Drive is the main east west artery that provides freeway access to the Kingwood community of over 71,000 residents.
It is no surprise there has been so much retail interest along this attractive corridor.
Offered for $4,663,967, Shops at Northpark provides an investor the rare opportunity to acquire a recently constructed shopping center with NNN leases and upside through lease up in one of Houstons most sought-after suburban communities.

Exclusively Listed By

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