20.18 Acres Development
38839 Spur 149, Magnolia, TX
Call to check price and availability
Development site with income from long-time tenant through 2027.
Type:LAND
Lot size:
20.18 Acres- Added:
- Aug 26, 2024
- Days on Market:
- 647
- Last Refresh:
- May 19 at 8:30 pm
Property Features for 38839 Spur 149
General Information
- Standard status
- Active
- Lot size
- 20.18 Acres
- Property subtype
- LAND
Listing agent Tom Condon, Jr. License #505655 (713) 830-4007
Listing office Colliers - The Woodlands (713) 830-4007
Listing date Aug 26, 2024
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Colliers - The Woodlands
HighLights
- Significant annual income: $897,840 per year NNN lease provides substantial and reliable income.
- Prime development site of ±20.18 acres located in a high‑growth area between The Woodlands and Magnolia.
- Strategic location shadow‑anchored by a new Lowe’s and H‑E‑B grocery store.
- Long‑term lease until 12‑31‑2027, offering stable income for several years.
- Substantial frontage on Spur 149 (±1,020’) and Red Creek Circle (±925’).
- Future growth potential with CPI‑U rent increases starting 01‑01‑2025 and unrestricted land use (until city annexation).
Overview
This property offers a development site consisting of approximately 20.18 acres. It is located between The Woodlands and Magnolia, representing a covered-land opportunity with income from a long-time tenant. The site is shadow anchored by a new Lowe’s and H-E-B grocery store. The property is leased on a NNN basis through December 31, 2027. The base rent is $897,840 per year, with CPI-U increases beginning January 1, 2025. The tenant has the right to early termination with a 15-month termination notice. The property has approximately 1,020 feet of frontage on Spur 149 and approximately 925 feet of frontage on Red Creek Circle. It is located within the Magnolia ISD. The property is unrestricted until city annexation is in place. Possible public utilities are available with annexation into the City of Magnolia and/or either adjacent MUD.
Property Profile
Location Intelligence
Current Use by Public Records
Oilfield Steel Supply
Factory
Location Insight
- Map
- Local Demand
- City
- Magnolia
- County
- Montgomery
- State
- Texas
- Longitude
- -95.6818
- Latitude
- 30.2186
Nearby Similar for Sale
FAQs
What type of property is this?
Land - Development site with income from long-time tenant through 2027.
Where is this land located?
The property is located at 38839 Spur 149 Magnolia, TX.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: Significant annual income: $897,840 per year NNN lease provides substantial and reliable income.; Prime development site of ±20.18 acres located in a high‑growth area between The Woodlands and Magnolia.; Strategic location shadow‑anchored by a new Lowe’s and H‑E‑B grocery store.
