Investment Overview

Marcus & Millichap is pleased to exclusively list for sale The Colonnades on Lake Conroe, a 22,025 square foot retail center and 5,000 square foot freestanding restaurant situated on 2.35 acres, located at 19786 Highway 105 West in Mongtomery, Texas. The Colonnades on Lake Conroe offers an investor an opportunity to earn a 5.71 percent CAP rate return immediately and add value to the property by leasing the 9,112 square feet of recent vacancies. By leasing the new vacancies, an investor may achieve greater than a 10 percent CAP rate. The tenants that were located in vacant suites 150 and 190 occupied the property since 2005 and 2014. The tenants did not renew their leases at the end of 2020 due to temporary struggles imposed by the Covid-19 pandemic. The Colonnades on Lake Conroe has historically maintained full or near-full occupancy over the last five years. Montgomery County is one of the fastest growing counties in Texas, having grown over 30 percent since 2010. Lake Conroe’s area population continues to grow at a rate of nearly double the Greater Houston area’s growth rate. The Colonnades on Lake Conroe is in the heart of the City of Montgomery, located half a mile East of a Kroger Marketplace and a 16.75 acre tract owned by H-E-B and located .8 miles West of a Walmart Supercenter. Lake Conroe is located less than a mile East of the property.