Shopping Strip

The Shoppes at Grand Mission

7324 Grand Mission Blvd, Richmond, TX 77407

Listing Price: $2,305,000

Cap Rate
7.10%
Gross SF
6,820
Rentable SF
6,820
Price/Gross SF
$337.98
Year Built
2019

Investment Overview

The subject property is a 6,820 square foot two tenant shopping center located in Richmond, Texas. The asset is situated on Grand Mission Boulevard just south of Bellaire Boulevard in the Grand Mission master planned community. It is located just one half mile south of the Westpark Toll Road. The property was constructed in 2019 and is 100% occupied.
Richmond is a fast-growing suburb of Houston, Texas located in Fort Bend County. Fort Bend County was the fastest growing large county in the US between 2013-2016 with a 26% growth between 2010 and 2018. Its ranks 5th in the US for home purchasing power, 4th in the US for incoming investment, and 4th in the US for domestic migration. These accolades are the reason that Amazon built an 850,000 square foot fulfillment center just one- and one-half miles south of the subject property. The facility will be open in 2021 and create 1,000 Jobs. (https://www.bizjournals.com/houston/news/2020/06/18/amazon-richmond-fulfillment-center.html)

Average household incomes average over $116,000 within three miles. Population is over 86,000 within the same area. Both tenants leases are NNN and reimburse for management fee.

Investment Highlights

  • All leases are NNN
  • Average Household Income within 3 miles is $116,000
  • Population within 3 miles is 86,800 (estimated)

Exclusively Listed By

Shopping Strip

The Shoppes at Grand Mission

Listing Price: $2,305,000

Cap Rate
7.10%
Gross SF
6,820
Rentable SF
6,820
Price/Gross SF
$337.98
Year Built
2019

Investment Highlights

  • All leases are NNN
  • Average Household Income within 3 miles is $116,000
  • Population within 3 miles is 86,800 (estimated)

Investment Overview

The subject property is a 6,820 square foot two tenant shopping center located in Richmond, Texas. The asset is situated on Grand Mission Boulevard just south of Bellaire Boulevard in the Grand Mission master planned community. It is located just one half mile south of the Westpark Toll Road. The property was constructed in 2019 and is 100% occupied.
Richmond is a fast-growing suburb of Houston, Texas located in Fort Bend County. Fort Bend County was the fastest growing large county in the US between 2013-2016 with a 26% growth between 2010 and 2018. Its ranks 5th in the US for home purchasing power, 4th in the US for incoming investment, and 4th in the US for domestic migration. These accolades are the reason that Amazon built an 850,000 square foot fulfillment center just one- and one-half miles south of the subject property. The facility will be open in 2021 and create 1,000 Jobs. (https://www.bizjournals.com/houston/news/2020/06/18/amazon-richmond-fulfillment-center.html)

Average household incomes average over $116,000 within three miles. Population is over 86,000 within the same area. Both tenants leases are NNN and reimburse for management fee.

Exclusively Listed By

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