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Shopping Strip

Coronado Village

12611 Woodforest Blvd, Houston, TX 77015

Listing Price: $3,400,000

Cap Rate
6.86%
Gross SF
20,088
Rentable SF
20,088
Price/Gross SF
$169.26
Lot Size
1.49 acres
Year Built
1982

Investment Overview

Marcus & Millichap is pleased to offer for sale Coronado Village, a 20,088 square foot shopping center located at a signalized intersection on the corner of Woodforest and Normandy on Houston's east side. The subject property is conveniently located one mile north of Interstate 10 and 15 minutes from downtown Houston.

Coronado Village is an L-shaped center with excellent visibility and five points of ingress/egress via Normandy and Woodforest. The signaled intersection of Normandy and Woodforest is a major one in this market. It has a 1990's vintage and a well-established service-tenant mix with long historical occupancy trends. A 116,355 square foot Kroger Signature anchored center is located on the southeast corner and draws from one of the highest demographic neighborhoods in the east end on Normandy Drive.

Coronado Village is located two miles southwest of big box developments on Beltway 8 including a Wal-Mart Supercenter, Lowe's, Ross, PetSmart, Big Lots, and JC Penny. The subject property has eleven tenants and there is one vacancy totaling 1,950 square feet. A hands-on investor could achieve a 15.4 percent cash on cash return at 100 percent occupancy in Year 2 by converting the Month-To-Month tenants to NNN leases and renewing the existing tenants to longer term leases.

Investment Highlights

  • Across from Kroger Grocery Anchored Center
  • Hard Corner At A Signalized Intersection I One Mile North of Interstate 10
  • Excellent Access And Visibility/Five Points of Access Via Two Different Thoroughfares
  • 8.3 Percent Cash On Cash Return in Year 1 And 15.4% Cash On Cash Return in Year 2
  • Outstanding Tenant Longevity - 49 % of the Tenants Have Been There for Over 7 Years
  • 101,262 Population Within A Three Mile Radius

Exclusively Listed By

Financing By

Listing Price: $3,400,000

Cap Rate
6.86%
Gross SF
20,088
Rentable SF
20,088
Price/Gross SF
$169.26
Lot Size
1.49 acres
Year Built
1982

Investment Highlights

  • Across from Kroger Grocery Anchored Center
  • Hard Corner At A Signalized Intersection I One Mile North of Interstate 10
  • Excellent Access And Visibility/Five Points of Access Via Two Different Thoroughfares
  • 8.3 Percent Cash On Cash Return in Year 1 And 15.4% Cash On Cash Return in Year 2
  • Outstanding Tenant Longevity - 49 % of the Tenants Have Been There for Over 7 Years
  • 101,262 Population Within A Three Mile Radius

Investment Overview

Marcus & Millichap is pleased to offer for sale Coronado Village, a 20,088 square foot shopping center located at a signalized intersection on the corner of Woodforest and Normandy on Houston's east side. The subject property is conveniently located one mile north of Interstate 10 and 15 minutes from downtown Houston.

Coronado Village is an L-shaped center with excellent visibility and five points of ingress/egress via Normandy and Woodforest. The signaled intersection of Normandy and Woodforest is a major one in this market. It has a 1990's vintage and a well-established service-tenant mix with long historical occupancy trends. A 116,355 square foot Kroger Signature anchored center is located on the southeast corner and draws from one of the highest demographic neighborhoods in the east end on Normandy Drive.

Coronado Village is located two miles southwest of big box developments on Beltway 8 including a Wal-Mart Supercenter, Lowe's, Ross, PetSmart, Big Lots, and JC Penny. The subject property has eleven tenants and there is one vacancy totaling 1,950 square feet. A hands-on investor could achieve a 15.4 percent cash on cash return at 100 percent occupancy in Year 2 by converting the Month-To-Month tenants to NNN leases and renewing the existing tenants to longer term leases.

Exclusively Listed By

Financing By

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