Shopping Strip

The Shops at Humble

9910 Farm to Market 1960 Bypass, Humble, TX 77338

Listing Price: $5,879,000

Cap Rate
7.50%
Gross SF
28,820
Rentable SF
28,820
Price/Gross SF
$203.99
Lot Size
2.10 acres
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 28,820-square foot, multi-tenant shopping center located in a prime retail corridor in the northern Houston suburb of Humble, Texas. Currently 95 percent leased, The Shops at Humble is anchored by JoAnn Fabric and Craft Stores, which accounts for 51 percent of the gross leasable area. JoAnn’s recently exercised a five-year lease renewal, and the store reports strong sales, having a 5.75 percent rent-to-sales ratio. Other tenants include Royal Dental, Happy Cash, Hanna Nails, D Dominican Beauty Salon, AP Tax and Multiservice, Massage, Civil Vapes, and The Fire Box. All tenants have triple-net leases. Situated on 2.1 acres, the building was originally constructed in 1980. The seller reports significant recent improvements including a new roof and new building façade. The subject property is well-positioned in a dense retail trade area off Interstate 69 at the intersection with Farm to Market 1960 Bypass Road. Traffic counts in front of the property are approximately 42,150 vehicles per day. Deerbrook Mall is located directly across the road, featuring more than 130 stores and anchored by Dillard’s, Macy’s, and Dick’s Sporting Goods. Additional national and regional tenants in close proximity include Sam’s Club, Ross Dress for Less, At Home, Academy Sports and Outdoors, Conn’s HomePlus, Boot Barn, Petco, DSW, Michaels, Five Below, Movie Tavern, Kroger, Walmart Supercenter, Big Lots, Chuck E. Cheese’s, Harbor Freight Tools, The Home Depot, Best Buy, Office Depot, Hobby Lobby, Target, Kohl’s, and numerous others.

Investment Highlights

  • Anchored by JoAnn Fabrics | Tenant Recently Exercised a Five-Year Renewal | Store Reports Strong Sales | Rent-to-Sales Ratio is 5.75% | $173 per Square Foot in Sales
  • Complementary Mix of Mostly Internet-Resistant Tenants
  • Recent Property Improvements, Reported by the Seller, Include a New Roof, and New Façade

Exclusively Listed By

Listing Price: $5,879,000

Cap Rate
7.50%
Gross SF
28,820
Rentable SF
28,820
Price/Gross SF
$203.99
Lot Size
2.10 acres
Year Built
1980

Investment Highlights

  • Anchored by JoAnn Fabrics | Tenant Recently Exercised a Five-Year Renewal | Store Reports Strong Sales | Rent-to-Sales Ratio is 5.75% | $173 per Square Foot in Sales
  • Complementary Mix of Mostly Internet-Resistant Tenants
  • Recent Property Improvements, Reported by the Seller, Include a New Roof, and New Façade

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 28,820-square foot, multi-tenant shopping center located in a prime retail corridor in the northern Houston suburb of Humble, Texas. Currently 95 percent leased, The Shops at Humble is anchored by JoAnn Fabric and Craft Stores, which accounts for 51 percent of the gross leasable area. JoAnn’s recently exercised a five-year lease renewal, and the store reports strong sales, having a 5.75 percent rent-to-sales ratio. Other tenants include Royal Dental, Happy Cash, Hanna Nails, D Dominican Beauty Salon, AP Tax and Multiservice, Massage, Civil Vapes, and The Fire Box. All tenants have triple-net leases. Situated on 2.1 acres, the building was originally constructed in 1980. The seller reports significant recent improvements including a new roof and new building façade. The subject property is well-positioned in a dense retail trade area off Interstate 69 at the intersection with Farm to Market 1960 Bypass Road. Traffic counts in front of the property are approximately 42,150 vehicles per day. Deerbrook Mall is located directly across the road, featuring more than 130 stores and anchored by Dillard’s, Macy’s, and Dick’s Sporting Goods. Additional national and regional tenants in close proximity include Sam’s Club, Ross Dress for Less, At Home, Academy Sports and Outdoors, Conn’s HomePlus, Boot Barn, Petco, DSW, Michaels, Five Below, Movie Tavern, Kroger, Walmart Supercenter, Big Lots, Chuck E. Cheese’s, Harbor Freight Tools, The Home Depot, Best Buy, Office Depot, Hobby Lobby, Target, Kohl’s, and numerous others.

Exclusively Listed By

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