Shopping Strip

Parkway Plaza

Listing Price: $8,052,000

Cap Rate
7.61%
Gross SF
32,011
Rentable SF
32,011
Price/Gross SF
$251.54
Lot Size
5.83 acres
Year Built
2019

Investment Overview

Marcus & Millichap is pleased to offer Parkway Plaza (Property) in Alvin (Houston MSA), Texas for your consideration. Consisting of a 32,011 square foot shopping center on a large 4.96 acre corner parcel, Parkway Plaza was constructed in 2019. The Property is 96% leased to an appealing mix of essential businesses and service-oriented retailers, all of which have NNN leases insulating an investor from operating expense increases. The lease roll is staggered and the average base rent is a modest $20.25/SF providing downside protection and the potential for upside.

The Property has excellent visibility and access due to its frontage on the TX-35 Loop. Major retailers line the corridor and are just to the south of Parkway Plaza. These include Home Depot, Walmart Supercenter, McDonalds, NTB, Starbucks, and Olive Garden among others.

Offered for $8,052,000, Parkway Plaza provides an exceptional opportunity to acquire a brand new, stabilized shopping center for a 7.61% CAP rate.

Investment Highlights

  • Brand New 32,011 Square Foot Shopping Center
  • Large 5.83 Acre Corner Parcel Fronting TX-35 Loop
  • 96% Occupied | NNN Leases
  • Staggered Lease Roll | Modest Base Rents Provide Downside Protection
  • Major Retailers in Immediate Area Including Walmart Supercenter and Home Depot
  • $8,052,000 | 7.61% CAP

Exclusively Listed By

Listing Price: $8,052,000

Cap Rate
7.61%
Gross SF
32,011
Rentable SF
32,011
Price/Gross SF
$251.54
Lot Size
5.83 acres
Year Built
2019

Investment Highlights

  • Brand New 32,011 Square Foot Shopping Center
  • Large 5.83 Acre Corner Parcel Fronting TX-35 Loop
  • 96% Occupied | NNN Leases
  • Staggered Lease Roll | Modest Base Rents Provide Downside Protection
  • Major Retailers in Immediate Area Including Walmart Supercenter and Home Depot
  • $8,052,000 | 7.61% CAP

Investment Overview

Marcus & Millichap is pleased to offer Parkway Plaza (Property) in Alvin (Houston MSA), Texas for your consideration. Consisting of a 32,011 square foot shopping center on a large 4.96 acre corner parcel, Parkway Plaza was constructed in 2019. The Property is 96% leased to an appealing mix of essential businesses and service-oriented retailers, all of which have NNN leases insulating an investor from operating expense increases. The lease roll is staggered and the average base rent is a modest $20.25/SF providing downside protection and the potential for upside.

The Property has excellent visibility and access due to its frontage on the TX-35 Loop. Major retailers line the corridor and are just to the south of Parkway Plaza. These include Home Depot, Walmart Supercenter, McDonalds, NTB, Starbucks, and Olive Garden among others.

Offered for $8,052,000, Parkway Plaza provides an exceptional opportunity to acquire a brand new, stabilized shopping center for a 7.61% CAP rate.

Exclusively Listed By

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