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Shopping Strip

The Shops At Humble

9910 Farm to Market 1960 Bypass Rd W, Humble, TX 77338

Listing Price: $5,675,000

Cap Rate
7.80%
Gross SF
28,820
Rentable SF
28,820
Price/Gross SF
$196.91
Lot Size
2.10 acres
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale The Shops at Humble, a 28,820 square foot shopping center, located in Humble, Texas. The Shops at Humble is located on the premier retail corridor of its submarket: FM 1960, west of Interstate 69, and is directly across from Deerbrook Mall. The property features a diverse mix of internet-resistant tenants on NNN leases with staggered expiration dates. The Shops at Humble is available for sale at a price of $5,675,000, offering an investor a CAP rate of 7.80 percent and a cash-on-cash return of 12.19 percent if an investor attains financing with the terms provided by Marcus & Millichap Capital Corporation. An investor may attain upside by leasing one 1,479 square foot vacancy (approximately 5 percent of the building’s gross leasable area). The subject property is anchored by JoAnn’s Fabrics and Crafts (NASDAQ: JOAN), which boasts a 5.75 percent rent-to-sales ratio (sales of $2,356,856 in 2020). JoAnn’s occupies 51 percent of the property’s gross leasable area. JoAnn’s has occupied the subject property since 1998, its current lease term ends on 1/31/24, and it has one 5-year option to renew its lease.

Investment Highlights

  • 7.80% CAP Rate and 12.19% Cash-on-Cash Return With Proposed Debt Service
  • Situated on Premier Retail Corridor of Property's Submarket: FM 1960 (42,150 vehicles per day), West of Interstate 69 (133,300 vehicles per day)
  • Surrounded by National Retailers Including: Walmart, Kroger, Sam's Club, Academy, Burlington, At Home, Ross, Petco, Conn's, and Most Major Retailers
  • Anchored by Dominant JoAnn's Retailer With Store Sales of Over $2.35 Million in 2020
  • Upside by Leasing 1,479 Square Foot Vacancy, Totaling 5% of Gross Leasable Area
  • New TPO Roof Installed in 2017

Exclusively Listed By

Listing Price: $5,675,000

Cap Rate
7.80%
Gross SF
28,820
Rentable SF
28,820
Price/Gross SF
$196.91
Lot Size
2.10 acres
Year Built
1980

Investment Highlights

  • 7.80% CAP Rate and 12.19% Cash-on-Cash Return With Proposed Debt Service
  • Situated on Premier Retail Corridor of Property's Submarket: FM 1960 (42,150 vehicles per day), West of Interstate 69 (133,300 vehicles per day)
  • Surrounded by National Retailers Including: Walmart, Kroger, Sam's Club, Academy, Burlington, At Home, Ross, Petco, Conn's, and Most Major Retailers
  • Anchored by Dominant JoAnn's Retailer With Store Sales of Over $2.35 Million in 2020
  • Upside by Leasing 1,479 Square Foot Vacancy, Totaling 5% of Gross Leasable Area
  • New TPO Roof Installed in 2017

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale The Shops at Humble, a 28,820 square foot shopping center, located in Humble, Texas. The Shops at Humble is located on the premier retail corridor of its submarket: FM 1960, west of Interstate 69, and is directly across from Deerbrook Mall. The property features a diverse mix of internet-resistant tenants on NNN leases with staggered expiration dates. The Shops at Humble is available for sale at a price of $5,675,000, offering an investor a CAP rate of 7.80 percent and a cash-on-cash return of 12.19 percent if an investor attains financing with the terms provided by Marcus & Millichap Capital Corporation. An investor may attain upside by leasing one 1,479 square foot vacancy (approximately 5 percent of the building’s gross leasable area). The subject property is anchored by JoAnn’s Fabrics and Crafts (NASDAQ: JOAN), which boasts a 5.75 percent rent-to-sales ratio (sales of $2,356,856 in 2020). JoAnn’s occupies 51 percent of the property’s gross leasable area. JoAnn’s has occupied the subject property since 1998, its current lease term ends on 1/31/24, and it has one 5-year option to renew its lease.

Exclusively Listed By

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