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Shopping Strip

Pin Oak Plaza

4130 Farm to Market Rd 1488, Magnolia, TX 77384

Listing Price: $19,500,000

Cap Rate
5.30%
Gross SF
41,926
Rentable SF
41,926
Price/Gross SF
$465.11
Lot Size
4.44 acres
Year Built
2020

Investment Overview

Marcus & Millichap is pleased to exclusively list Pin Oak Plaza, a combination of two Class A multi-tenant retail centers alongside a Sunoco gas station located in Magnolia, Texas. Each building was built in 2020. The subject property is situated on the north side of FM 1488 with 900 feet of frontage spanning from the hard corner, signalized intersection of Horseshoe Bend spanning east to the intersection at Pin Oak Drive. Pin Oak Plaza I is a 26,964 square foot retail center 100 percent leased with long-term leases. Pin Oak Plaza II is a 10,544 square foot retail center that is also 100 percent occupied with long-term leases. The Sunoco gas station is on a 10-year NNN lease with two renewal options featuring five percent rental increases per option. Pin Oak Plaza is strategically located on the main retail artery in Magnolia, FM 1488, which sees over 50,000 vehicles per day. The property is less than one mile away from HEB and less than five miles away from Interstate 45 surrounded by several national retailers including CVS, Chase Bank, Burger King, Subway, UPS, and many others. The investment property offers an incoming investor a stabilized cash flow with a mix of e-commerce resistant and service tenants on long-term, NNN leases in a high-income demographic submarket. The current NOI is expected to increase by approximately 3 percent year over year with built-in rent bumps during the primary term on the majority of leases. Magnolia, Texas is one of the fastest growing cities in the United States. Magnolia ISD is one of the top public-school districts in Texas. The median price of homes sold in the Magnolia area increased by 34.7 percent year over year from January 2020 to January 2021.

Investment Highlights

  • Newly Constructed Shopping Center That is 100% Occupied
  • Long-Term NNN leases (No Leases Expiring Prior to 2025)
  • 900 Feet of Frontage on FM 1488 (Over 50K Vehicles Per Day)
  • Scheduled Annual Rent Increases of Approximately Three Percent Per Year
  • Rapidly Growing Submarket- 13% Estimated Population Growth in the Next Three Years

Exclusively Listed By

Financing By

Listing Price: $19,500,000

Cap Rate
5.30%
Gross SF
41,926
Rentable SF
41,926
Price/Gross SF
$465.11
Lot Size
4.44 acres
Year Built
2020

Investment Highlights

  • Newly Constructed Shopping Center That is 100% Occupied
  • Long-Term NNN leases (No Leases Expiring Prior to 2025)
  • 900 Feet of Frontage on FM 1488 (Over 50K Vehicles Per Day)
  • Scheduled Annual Rent Increases of Approximately Three Percent Per Year
  • Rapidly Growing Submarket- 13% Estimated Population Growth in the Next Three Years

Investment Overview

Marcus & Millichap is pleased to exclusively list Pin Oak Plaza, a combination of two Class A multi-tenant retail centers alongside a Sunoco gas station located in Magnolia, Texas. Each building was built in 2020. The subject property is situated on the north side of FM 1488 with 900 feet of frontage spanning from the hard corner, signalized intersection of Horseshoe Bend spanning east to the intersection at Pin Oak Drive. Pin Oak Plaza I is a 26,964 square foot retail center 100 percent leased with long-term leases. Pin Oak Plaza II is a 10,544 square foot retail center that is also 100 percent occupied with long-term leases. The Sunoco gas station is on a 10-year NNN lease with two renewal options featuring five percent rental increases per option. Pin Oak Plaza is strategically located on the main retail artery in Magnolia, FM 1488, which sees over 50,000 vehicles per day. The property is less than one mile away from HEB and less than five miles away from Interstate 45 surrounded by several national retailers including CVS, Chase Bank, Burger King, Subway, UPS, and many others. The investment property offers an incoming investor a stabilized cash flow with a mix of e-commerce resistant and service tenants on long-term, NNN leases in a high-income demographic submarket. The current NOI is expected to increase by approximately 3 percent year over year with built-in rent bumps during the primary term on the majority of leases. Magnolia, Texas is one of the fastest growing cities in the United States. Magnolia ISD is one of the top public-school districts in Texas. The median price of homes sold in the Magnolia area increased by 34.7 percent year over year from January 2020 to January 2021.

Exclusively Listed By

Financing By

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