Shopping Strip

Deer Park Professional Center

2309 Center St, Deer Park, TX 77536

Listing Price: $750,000

Cap Rate
6.23%
Gross SF
4,926
Rentable SF
4,926
Price/Gross SF
$152.25
Lot Size
0.47 acres
Year Built
1998

Investment Overview

Marcus & Millichap is pleased to exclusively list Deer Park Professional Center, located at 2309 Center Street in Deer Park, Texas. The subject property is a 4,926 square foot professional retail center built in 1998 and renovated in 2006, located on .47 acres. Deer Park Professional Center is offered for $750,000, which offers an investor a pro-forma cap rate of 9.21%. Two of the three tenants are on month-to-month leases and are paying only $12 per square foot on gross leases. Market rent for comparable retail shopping centers nearby on Center Street is approximately eighteen to $22 plus triple net reimbursements of five to seven dollars. An investor has the ability to double gross revenue, by immediately pushing rents for the two month-to-month tenants and utilizing triple net leases. Deer Park Professional Center features a new roof, installed in 2019. The Property is located on a hard-corner parcel with two access points. Other features include a large monument sign, straight-in-line visibility, and additional parking and a two-story workshop in rear (currently utilized by R.A. Weaver Electric).

Investment Highlights

  • Below Market Rents, Ample Upside Potential
  • Minimal Management Responsibility
  • Low Price Point
  • Excellent Visibility on Center Street (15,407 Vehicles Per Day)
  • New Roof Installed In 2019
  • Masonry Construction

Exclusively Listed By

Shopping Strip

Deer Park Professional Center

Listing Price: $750,000

Cap Rate
6.23%
Gross SF
4,926
Rentable SF
4,926
Price/Gross SF
$152.25
Lot Size
0.47 acres
Year Built
1998

Investment Highlights

  • Below Market Rents, Ample Upside Potential
  • Minimal Management Responsibility
  • Low Price Point
  • Excellent Visibility on Center Street (15,407 Vehicles Per Day)
  • New Roof Installed In 2019
  • Masonry Construction

Investment Overview

Marcus & Millichap is pleased to exclusively list Deer Park Professional Center, located at 2309 Center Street in Deer Park, Texas. The subject property is a 4,926 square foot professional retail center built in 1998 and renovated in 2006, located on .47 acres. Deer Park Professional Center is offered for $750,000, which offers an investor a pro-forma cap rate of 9.21%. Two of the three tenants are on month-to-month leases and are paying only $12 per square foot on gross leases. Market rent for comparable retail shopping centers nearby on Center Street is approximately eighteen to $22 plus triple net reimbursements of five to seven dollars. An investor has the ability to double gross revenue, by immediately pushing rents for the two month-to-month tenants and utilizing triple net leases. Deer Park Professional Center features a new roof, installed in 2019. The Property is located on a hard-corner parcel with two access points. Other features include a large monument sign, straight-in-line visibility, and additional parking and a two-story workshop in rear (currently utilized by R.A. Weaver Electric).

Exclusively Listed By

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