Shopping Strip

Hempstead Center And Gas Station

1925 13th St, Hempstead, TX 77445

Listing Price: $1,850,000

Cap Rate
8.01%
Gross SF
11,400
Rentable SF
11,400
Price/Gross SF
$162.28
Lot Size
1.45 acres
Year Built
2015

Investment Overview

Marcus & Millichap is pleased to exclusively list Hempstead Center and Gas Station, a 11,400 square foot retail center located in the expanding section of Waller County. Situated near the intersection of US Highway 290 and Texas State Highway 6, only 50 miles from Houston, 40 miles from College Station and 25 miles from Brenham, Texas. The property is 100 percent occupied by service tenants with single net leases that are not being fully executed on leaving over $19,000 in fees uncollected by current ownership. Current ownership has been treating the leases as gross for the last 5 years. Hempstead Center and Gas Station is offered for $1,850,000 at a CAP rate of 8.01 percent. The property sits upon 1.45 acres with ample space in the rear of the lot to construct a new retail space or leave as parking. The subject property sits on Highways 159 in the heart of the major residential area of Hempstead and is a local watering hole and social spots for many of the residence. Additionally, the property resides on a major trucking route and is the last filling station for trucks along 156 for roughly 20 miles.

Investment Highlights

  • Property Resides Within a Designated Opportunity Zone
  • Filling Station Resides on Major Trucking Route Along Highway 159
  • Located On Highway 159 | 6.042 Vehicles Per Day
  • Population Has Increased By 48% Since 2010
  • Median Age in Hempstead is 28 Years
  • Over $19,000 Not Being Collected in Single Net Lease Fees Annually By Current Ownership
  • All Tenants Current On Rent Since March of 2020

Exclusively Listed By

Shopping Strip

Hempstead Center And Gas Station

Listing Price: $1,850,000

Cap Rate
8.01%
Gross SF
11,400
Rentable SF
11,400
Price/Gross SF
$162.28
Lot Size
1.45 acres
Year Built
2015

Investment Highlights

  • Property Resides Within a Designated Opportunity Zone
  • Filling Station Resides on Major Trucking Route Along Highway 159
  • Located On Highway 159 | 6.042 Vehicles Per Day
  • Population Has Increased By 48% Since 2010
  • Median Age in Hempstead is 28 Years
  • Over $19,000 Not Being Collected in Single Net Lease Fees Annually By Current Ownership
  • All Tenants Current On Rent Since March of 2020

Investment Overview

Marcus & Millichap is pleased to exclusively list Hempstead Center and Gas Station, a 11,400 square foot retail center located in the expanding section of Waller County. Situated near the intersection of US Highway 290 and Texas State Highway 6, only 50 miles from Houston, 40 miles from College Station and 25 miles from Brenham, Texas. The property is 100 percent occupied by service tenants with single net leases that are not being fully executed on leaving over $19,000 in fees uncollected by current ownership. Current ownership has been treating the leases as gross for the last 5 years. Hempstead Center and Gas Station is offered for $1,850,000 at a CAP rate of 8.01 percent. The property sits upon 1.45 acres with ample space in the rear of the lot to construct a new retail space or leave as parking. The subject property sits on Highways 159 in the heart of the major residential area of Hempstead and is a local watering hole and social spots for many of the residence. Additionally, the property resides on a major trucking route and is the last filling station for trucks along 156 for roughly 20 miles.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower