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    2340 Texas Heritage Pkwy Katy, TX 77494

    For Sale
    $10,416,758

    19,575 SF Retail Strip Center, 6% Cap Rate

    Property size:
    19,575 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 19,575-square-foot retail strip center, built in 2022, presents a compelling investment opportunity. Located at 2340 Texas Heritage Pkwy in Katy, Texas (77494), this property boasts a 100% occupancy rate and a strong net operating income (NOI) of $625,005, yielding a 6.00% capitalization rate. The asking price is $10,416,758. Situated on a 1.45-acre lot, this single-building center is strategically positioned within Houston's newest affluent, family-oriented master-planned community, approximately four miles west of existing retail, ensuring optimal absorption of Katy's continued growth. Its pedestrian-friendly design promotes high foot traffic, further enhanced by its location on the major north-south thoroughfare, Texas Heritage Parkway. The property benefits from unparalleled integration into this thriving community and exceptional growth potential due to the construction of nearby new master-planned communities. This investment offers a rare combination of prime location, strong performance, and significant future upside.

    Property Features for 2340 Texas Heritage Pkwy

    General Information

    Property type
    Retail properties
    Square Feet
    19,575 SF
    Lot Size
    63,162 SF

    Building Details

    Year Built
    2022
    Buildings
    1

    HighLights

    • $10,416,758 asking price for this 19,575 SF retail strip center.
    • 6.00% cap rate with a $625,005 NOI.
    • 100% occupancy in a 2022‑built, single‑building property.
    • Located on 1.45 acres at 2340 Texas Heritage Pkwy, Katy, TX 77494.
    • Prime location in a new, affluent, family‑oriented master‑planned community, strategically positioned to benefit from Katy's growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Katy
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.8858693
    Latitude
    29.7567177

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    FAQs

    What type of property is this?
    Retail property - 19,575 SF Retail Strip Center, 6% Cap Rate
    Where is this retail property located?
    The property is located at 2340 Texas Heritage Pkwy Katy, TX.
    What is the asking price?
    The asking price for this property is $10,416,758.
    What are key features of this property?
    This property features: $10,416,758 asking price for this 19,575 SF retail strip center.; 6.00% cap rate with a $625,005 NOI.; 100% occupancy in a 2022-built, single-building property.
    Request Owner's contact information
    2340 Texas Heritage Pkwy Katy, TX 77494
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2340 Texas Heritage Pkwy Katy, TX 77494
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