Retail Center Near Major
New
For Sale
$7,450,000
300 Promenade Way, Sugar Land, TX 77479
Built in 2020, the center serves a Sugar Land trade area with substantial nearby population and daytime employment.
Property Size20,433 SF
Price / SF$364.61
Days on Market3
Property Features for 300 Promenade Way
General Information
Standard status
Active
Size
20,433 SF
Property subtype
Shopping Strip
Additional Details
Highway Access
Yes
Amenities
20,433 SF multi-tenant retail property situated on approximately 1.86 acres in Sugar Land, Texas.
Newer 2020 construction featuring an attractive two-story design and modern storefronts.
Seven-suite configuration with suite sizes ranging from approcimately 1,200 SF to 5,775 SF.
Diverse tenant roster spanning dining, healthcare, professional services, education and familyoriented uses.
Tenants include Toast, Edward Jones, Rubicon, Dr. Cindy Tu & Associates, LifeCraft Innovation Center, Universal Health Services and Frogs Snails & Fairytales.
100% NNN lease structure provides operating expense reimbursements and minimizes landlord expense exposure.
Building Details
Building Size
20,433 SF
Year Built
2020
Listing Agency:
Marcus & Millichap - Houston
Listed By:
Justin Miller · License #License(s): TX: 551204
(713) 452-4287
Source:
Marcusmillichap
Added: Oct 19
Last Checked: Oct 20 at 5:16PM
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 Marcus & Millichap - Houston
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Investment Insights
Based on property information with market context.
This 20,433-square-foot retail center was built in 2020 and is located in Sugar Land, Texas. Its setting places it near Highway 6 and Highway 90A, with additional connections to I-59/US-59, Grand Parkway and Beltway 8.
Traffic counts cited for Highway 6 and Highway 90A are approximately 62,955 and 59,089 vehicles per day, respectively. Constellation Field is about one mile away, and nearby businesses and lodging include H-E-B, Walmart, Whataburger and a 122-room Hampton Inn & Suites.
The three-mile trade area includes more than 90,000 residents and an estimated daytime population of approximately 120,900; approximately 335,900 residents live within five miles. More than 40% of households within three miles earn $100,000 or more annually, and average household income exceeds $105,000.
Traffic counts cited for Highway 6 and Highway 90A are approximately 62,955 and 59,089 vehicles per day, respectively. Constellation Field is about one mile away, and nearby businesses and lodging include H-E-B, Walmart, Whataburger and a 122-room Hampton Inn & Suites.
The three-mile trade area includes more than 90,000 residents and an estimated daytime population of approximately 120,900; approximately 335,900 residents live within five miles. More than 40% of households within three miles earn $100,000 or more annually, and average household income exceeds $105,000.
Key Highlights
- 20,433‑square‑foot retail center, built in 2020
- Highway 6 traffic: approximately 62,955 vehicles per day; Highway 90A: approximately 59,089
- Access to Highway 6, Highway 90A, I‑59/US‑59, Grand Parkway and Beltway 8
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$236,859
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,737,180
$4.7M
Cap Rate 7%
$3,383,700
$3.4M
Cap Rate 9%
$2,631,767
$2.6M
Market Conditions
NOI Build-Up for 20,433 SF
Gross rent
$367.8K $18.00/SF
− Vacancy
−$29.4K −$1.44/SF
EGI
$338.4K $16.56/SF
− OpEx
−$101.5K −$4.97/SF
NOI
$236.9K $11.59/SF
Area
Sugar Land, TX
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,737,180
Cap Rate 7%
$3,383,700
Cap Rate 9%
$2,631,767
Alternative Uses
Best Use
Retail
$3.38M
$2.96M – $3.95M
NOI $236,859 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,639 @ 7.0% cap · market cap 3.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 77479, TX
93,180
Population
30,680
Households
3
Avg Household Size
41
Median Age
68%
College-Educated
96%
High-School Grad
32.7 sq mi
ZIP Area
2,850
Density / Sq Mi
$162,381
Median Household Income
$73,630
Median Earnings
$1,997
Median Rent
$462,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Built in 2020, the center serves a Sugar Land trade area with substantial nearby population and daytime employment.
Where is this strip mall located?
The property is located at 300 Promenade Way Sugar Land, TX.
What is the asking price?
The asking price for this property is $7,450,000.
What are key features of this property?
This property features: 20,433‑square‑foot retail center, built in 2020; Highway 6 traffic: approximately 62,955 vehicles per day; Highway 90A: approximately 59,089; Access to Highway 6, Highway 90A, I‑59/US‑59, Grand Parkway and Beltway 8
