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Shopping Strip

Pecan Forest Shopping Center

801 W Main St, League City, TX 77573

Listing Price: $3,170,000

Cap Rate
6.52%
Gross SF
14,444
Rentable SF
14,444
Price/Gross SF
$219.47
Lot Size
1.40 acres
Year Built
1963

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Pecan Forest Shopping Center, located at 801 West Main Street in League City, Texas. This retail center is 14,444 square feet situated on a 1.40-acre plot of land, located on a main thoroughfare branching off of Interstate 45 South. Pecan Forest provides investors with a value-add opportunity to increase rents over time. Currently, the center is charging an average of $1.17 per square foot in base rents, which is below the current market rate of $1.56 per square foot. The property currently yields an 8.06 percent cash-on-cash return at a 6.52 percent CAP rate. By increasing the average base rents to the market rate of $1.56 per square foot, an investor will achieve a 16.6 percent cash-on-cash return and an 8.65 percent CAP rate. Located less than a mile east of Interstate 45 South, Pecan Forest is situated on Main Street, one of League City’s primary thoroughfares. The property is surrounded by national retailers, such as Dairy Queen, O’Reilly Auto Parts, Walgreens, Domino’s, Sonic, Pep Boys, and more. Pecan Forest is also surrounded by dense residential communities to the east and south, featuring an average household income of $113,753.

Investment Highlights

  • Upside By Raising Below-Market Rents to Market Rates
  • Close Proximity to National Retailers Including: Dairy Queen, O'Reilly Auto Parts, Walgreens, Domino's, Sonic, and Pep Boys
  • Stable Tenant Base: All Tenants Paid Consistently Paid Rent Without Any Covid-19 Rent Concessions
  • Near Dense Residential Communities with an Average Household Income of $113,753

Exclusively Listed By

Shopping Strip

Pecan Forest Shopping Center

Listing Price: $3,170,000

Cap Rate
6.52%
Gross SF
14,444
Rentable SF
14,444
Price/Gross SF
$219.47
Lot Size
1.40 acres
Year Built
1963

Investment Highlights

  • Upside By Raising Below-Market Rents to Market Rates
  • Close Proximity to National Retailers Including: Dairy Queen, O'Reilly Auto Parts, Walgreens, Domino's, Sonic, and Pep Boys
  • Stable Tenant Base: All Tenants Paid Consistently Paid Rent Without Any Covid-19 Rent Concessions
  • Near Dense Residential Communities with an Average Household Income of $113,753

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Pecan Forest Shopping Center, located at 801 West Main Street in League City, Texas. This retail center is 14,444 square feet situated on a 1.40-acre plot of land, located on a main thoroughfare branching off of Interstate 45 South. Pecan Forest provides investors with a value-add opportunity to increase rents over time. Currently, the center is charging an average of $1.17 per square foot in base rents, which is below the current market rate of $1.56 per square foot. The property currently yields an 8.06 percent cash-on-cash return at a 6.52 percent CAP rate. By increasing the average base rents to the market rate of $1.56 per square foot, an investor will achieve a 16.6 percent cash-on-cash return and an 8.65 percent CAP rate. Located less than a mile east of Interstate 45 South, Pecan Forest is situated on Main Street, one of League City’s primary thoroughfares. The property is surrounded by national retailers, such as Dairy Queen, O’Reilly Auto Parts, Walgreens, Domino’s, Sonic, Pep Boys, and more. Pecan Forest is also surrounded by dense residential communities to the east and south, featuring an average household income of $113,753.

Exclusively Listed By

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