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38839 Spur 149 Rd Magnolia, TX 77354

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For Sale
$12,500,000

Development site with income from long-time tenant through 2027.

Lot size:
20.18 Acres

Property Features for 38839 Spur 149 Rd

General Information

Lot size
20.18 Acres

Source: Colliers - The Woodlands Agent Tom Condon, Jr.

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

20.18 Acres Development Site

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 Insight Report Location Intelligence

Current Use by Public Records

Oilfield Steel Supply Steel Distributor

Suggested Use

Restaurant Realty agency Law Firm Spa & Massage Dental Office Auto Repair Shop Hair Salon Clothing Store Nail Salon Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Magnolia
County
Montgomery
State
Texas
Longitude
-95.68185
Latitude
30.218554

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 Rd 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.
More about this property
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