Shopping Strip

Westside Crossing

3828 W Davis St, Conroe, TX 77304

Listing Price: $3,240,000

Cap Rate
7.50%
Gross SF
16,904
Rentable SF
16,904
Price/Gross SF
$191.67
Lot Size
3.19 acres
Year Built
1996

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Westside Crossing, located at 3828-3836 West Davis Street in Conroe, Texas. The Subject Property is comprised of two shopping centers totaling 16,904 square feet on 3.19 acres. The shopping centers are adjoined to a former Kroger Grocery box (not a part of sale offering). Westside Crossing is located at the Northwest corner of Highway 105 and Loop 336, one of Conroe’s most prominent and trafficked intersections. Located at the Southwest corner of the intersection is a highly busy H-E-B grocery store and retail development built in 2013. Other retailers at the Highway 105 and Loop 336 intersection include: McDonald’s, CVS, AutoZone, Subway, Great Clips, UPS Store, Russo’s Pizzeria, AT&T, Dollar General, and more. The Offering is available to investors for $3,240,000, which will provide an investor with a 7.50 percent CAP rate day one and a Cash-on-Cash return of 9 percent with a proposed new loan. Westside Crossing is a rare opportunity for an investor to purchase two shopping centers at the corner of a major intersection that is a prime candidate for re-development and lease-up. Upon the leasing of the Former Kroger box located between the two shopping centers for sale, the value of the site is likely to increase, along with the demand for the in-line retail. By leasing the subject property to 95 percent with $20 per square foot plus NNN leases in the vacant spaces, an investor would yield a 9.97 percent pro forma CAP rate.

Investment Highlights

  • Prime Intersection of Highway 105 (32,609 Vehicles Per Day) & Loop 336 (15,269 Vehicles Per Day)
  • Conroe is the Fastest Growing Community in United States - 65.74% Population Growth Since 2010
  • Located in One of Conroe's Fastest Growing Submarkets
  • Value-Add by Leasing 22% Vacancy
  • 7.50% CAP Rate (Current) | 9.97% CAP Rate (Pro Forma)
  • Upon the Leasing of Adjoined Former Kroger Box, Westside Crossing Leasing Demand Likely to See Increase

Exclusively Listed By

Listing Price: $3,240,000

Cap Rate
7.50%
Gross SF
16,904
Rentable SF
16,904
Price/Gross SF
$191.67
Lot Size
3.19 acres
Year Built
1996

Investment Highlights

  • Prime Intersection of Highway 105 (32,609 Vehicles Per Day) & Loop 336 (15,269 Vehicles Per Day)
  • Conroe is the Fastest Growing Community in United States - 65.74% Population Growth Since 2010
  • Located in One of Conroe's Fastest Growing Submarkets
  • Value-Add by Leasing 22% Vacancy
  • 7.50% CAP Rate (Current) | 9.97% CAP Rate (Pro Forma)
  • Upon the Leasing of Adjoined Former Kroger Box, Westside Crossing Leasing Demand Likely to See Increase

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Westside Crossing, located at 3828-3836 West Davis Street in Conroe, Texas. The Subject Property is comprised of two shopping centers totaling 16,904 square feet on 3.19 acres. The shopping centers are adjoined to a former Kroger Grocery box (not a part of sale offering). Westside Crossing is located at the Northwest corner of Highway 105 and Loop 336, one of Conroe’s most prominent and trafficked intersections. Located at the Southwest corner of the intersection is a highly busy H-E-B grocery store and retail development built in 2013. Other retailers at the Highway 105 and Loop 336 intersection include: McDonald’s, CVS, AutoZone, Subway, Great Clips, UPS Store, Russo’s Pizzeria, AT&T, Dollar General, and more. The Offering is available to investors for $3,240,000, which will provide an investor with a 7.50 percent CAP rate day one and a Cash-on-Cash return of 9 percent with a proposed new loan. Westside Crossing is a rare opportunity for an investor to purchase two shopping centers at the corner of a major intersection that is a prime candidate for re-development and lease-up. Upon the leasing of the Former Kroger box located between the two shopping centers for sale, the value of the site is likely to increase, along with the demand for the in-line retail. By leasing the subject property to 95 percent with $20 per square foot plus NNN leases in the vacant spaces, an investor would yield a 9.97 percent pro forma CAP rate.

Exclusively Listed By

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