Shopping Strip

House & Hahl Shopping Center

16712 House & Hahl Rd, Cypress, TX 77433

Listing Price: $8,350,000

Cap Rate
7.48%
Gross SF
28,209
Rentable SF
28,209
Price/Gross SF
$296.00
Lot Size
2.01 acres
Year Built
2017

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale House & Hahl Shopping Center, located in rapidly growing, Cypress, Texas. House & Hahl Shopping Center is a neighborhood shopping center built in 2017 with 28,209 square feet of leasable area. The property offers an investor a current CAP rate of 7.48 percent and a pro forma CAP rate of 8.20 percent, which is achievable by leasing the 631 square foot vacancy and increasing rents by only five percent over a five-year period. The property is situated less than two miles from Highway 290 (Houston’s primary Northwest freeway) and half a mile from Fry Road, one of Cypress’s main North to South corridors. House & Hahl Road is a main back road that residents who live in Blackhorse Ranch, Bridgeland, Cypress Creek Lakes Master Planned Communities use to avoid the heavy traffic and railroad crossings affiliated with traveling on Fry Road and visiting retail destinations at the Fry Road and 290 intersection. The Cypress Sports & Business Complex, at which the subject property is located at, serves as a neighborhood oasis for fitness, entertainment, and service-oriented offerings. Residents of the nearby communities are offered a convenient, clean, professional, and safe location to bring their families for day-to-day, destination-oriented needs, while avoiding the hassle of higher-trafficked thoroughfares in Cypress. House & Hahl Shopping Center is an attractive property for small, service-oriented businesses to lease at, because its average base rents are only $22 per square foot with under $8 per square foot triple net. Newer construction shopping centers on Fry Road at Highway 290 are asking for base rents of $28-$38 per square foot with $12 per square foot or higher triple net. House & Hahl Shopping Center’s position as a cost leader in the market and the value of its convenient, neighborhood location is evidenced by its occupancy of 97.8 percent.

Investment Highlights

  • Anchored by Cypress Sports & Business Complex, Which Provides Captive Exposure to Thousands of Visitors
  • Recent 2017 Construction Is Attractive for Tenants and Results in Minimal Repair Costs
  • Attractive 7.48% Current CAP Rate and Feasible Pro Forma of 8.20% Within Five Years
  • Cypress is One of Houston's Fastest Growing Suburbs With Average Household Income of $142,476
  • Cost Leader in the Fry at Highway 290 Sub-Market
  • Captive Neighborhood Audience of Blackhorse Ranch, Bridgeland, Cypress Creek Lakes Master Planned Communities

Exclusively Listed By

Shopping Strip

House & Hahl Shopping Center

Listing Price: $8,350,000

Cap Rate
7.48%
Gross SF
28,209
Rentable SF
28,209
Price/Gross SF
$296.00
Lot Size
2.01 acres
Year Built
2017

Investment Highlights

  • Anchored by Cypress Sports & Business Complex, Which Provides Captive Exposure to Thousands of Visitors
  • Recent 2017 Construction Is Attractive for Tenants and Results in Minimal Repair Costs
  • Attractive 7.48% Current CAP Rate and Feasible Pro Forma of 8.20% Within Five Years
  • Cypress is One of Houston's Fastest Growing Suburbs With Average Household Income of $142,476
  • Cost Leader in the Fry at Highway 290 Sub-Market
  • Captive Neighborhood Audience of Blackhorse Ranch, Bridgeland, Cypress Creek Lakes Master Planned Communities

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale House & Hahl Shopping Center, located in rapidly growing, Cypress, Texas. House & Hahl Shopping Center is a neighborhood shopping center built in 2017 with 28,209 square feet of leasable area. The property offers an investor a current CAP rate of 7.48 percent and a pro forma CAP rate of 8.20 percent, which is achievable by leasing the 631 square foot vacancy and increasing rents by only five percent over a five-year period. The property is situated less than two miles from Highway 290 (Houston’s primary Northwest freeway) and half a mile from Fry Road, one of Cypress’s main North to South corridors. House & Hahl Road is a main back road that residents who live in Blackhorse Ranch, Bridgeland, Cypress Creek Lakes Master Planned Communities use to avoid the heavy traffic and railroad crossings affiliated with traveling on Fry Road and visiting retail destinations at the Fry Road and 290 intersection. The Cypress Sports & Business Complex, at which the subject property is located at, serves as a neighborhood oasis for fitness, entertainment, and service-oriented offerings. Residents of the nearby communities are offered a convenient, clean, professional, and safe location to bring their families for day-to-day, destination-oriented needs, while avoiding the hassle of higher-trafficked thoroughfares in Cypress. House & Hahl Shopping Center is an attractive property for small, service-oriented businesses to lease at, because its average base rents are only $22 per square foot with under $8 per square foot triple net. Newer construction shopping centers on Fry Road at Highway 290 are asking for base rents of $28-$38 per square foot with $12 per square foot or higher triple net. House & Hahl Shopping Center’s position as a cost leader in the market and the value of its convenient, neighborhood location is evidenced by its occupancy of 97.8 percent.

Exclusively Listed By

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