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Shopping Strip

Broadway Shopping Center

10009 Broadway St, Pearland, TX 77584

Listing Price: $4,704,100

Cap Rate
7.00%
Gross SF
15,840
Rentable SF
15,390
Price/Gross SF
$296.98
Lot Size
1.23 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to present The Broadway Shopping Center. The subject property is a 15,390 SF multi-tenant retail center located in Pearland, a suburb of Houston, TX. The property is located near the signalized intersection of Broadway (FM 518) and Miller Ranch Road. The Broadway corridor is a well established and desirable suburb of Houston with high retail density. The center was built in 2006 and is currently 100 percent occupied. The center includes 3 tenants: China Star Buffet, Maxwello Cosmetic Dental, and The Greasy Spoon restaurant. All leases are NNN whereby real estate taxes, insurance & operating expenses are reimbursed by the tenants. All tenants are obligated to pay the landlord management fees and administrative fees. The owner negotiated a new lease with The Greasy Spoon Restaurant who is currently completing their buildout. They will begin rent payments in Mid-October 2021. Demographics are strong in the area. AHHI within a 1, 3, 5 mile radius are $176,000, $143,000 & $120,000 respectively. Population within a three mile radius is 73,000. Just to the west at the intersection of Highway 288 and Broadway is a collection of major retailers that total 3.4 million SF . They include Walmart, Target, Best Buy, Bed Bath & Beyond, Kohl's, Ross, Marshalls, Macy's, Dillard's, Dick's Sporting Goods, and HEB. The subject is located within one block of Home Depot.

Investment Highlights

  • 100% Occupied
  • All Leases are NNN
  • AHHI Within One-Mile Radius is $171,579
  • Major Retail Hub of Houston

Exclusively Listed By

Financing By

Shopping Strip

Broadway Shopping Center

Listing Price: $4,704,100

Cap Rate
7.00%
Gross SF
15,840
Rentable SF
15,390
Price/Gross SF
$296.98
Lot Size
1.23 acres
Year Built
2006

Investment Highlights

  • 100% Occupied
  • All Leases are NNN
  • AHHI Within One-Mile Radius is $171,579
  • Major Retail Hub of Houston

Investment Overview

Marcus & Millichap is pleased to present The Broadway Shopping Center. The subject property is a 15,390 SF multi-tenant retail center located in Pearland, a suburb of Houston, TX. The property is located near the signalized intersection of Broadway (FM 518) and Miller Ranch Road. The Broadway corridor is a well established and desirable suburb of Houston with high retail density. The center was built in 2006 and is currently 100 percent occupied. The center includes 3 tenants: China Star Buffet, Maxwello Cosmetic Dental, and The Greasy Spoon restaurant. All leases are NNN whereby real estate taxes, insurance & operating expenses are reimbursed by the tenants. All tenants are obligated to pay the landlord management fees and administrative fees. The owner negotiated a new lease with The Greasy Spoon Restaurant who is currently completing their buildout. They will begin rent payments in Mid-October 2021. Demographics are strong in the area. AHHI within a 1, 3, 5 mile radius are $176,000, $143,000 & $120,000 respectively. Population within a three mile radius is 73,000. Just to the west at the intersection of Highway 288 and Broadway is a collection of major retailers that total 3.4 million SF . They include Walmart, Target, Best Buy, Bed Bath & Beyond, Kohl's, Ross, Marshalls, Macy's, Dillard's, Dick's Sporting Goods, and HEB. The subject is located within one block of Home Depot.

Exclusively Listed By

Financing By

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