Retail Strip Center on Texas
For Sale
Contact for pricing
1619 Texas Pkwy, Missouri City, TX 77489
Fully leased retail strip center in a high-traffic location.
Property Size4,500 SF
Lot Size0.58 Acres
Price / SF$300
Days on Market814
Property Features for 1619 Texas Pkwy
General Information
Standard status
Active
Size
4,500 SF
Class
C
Lot size
0.58 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Gross
Net Operating Income
$63,340
Building Details
Year Built
1997
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Trinh Nguyen
Listed By:
Thế Trinh Nguyen · License #617251
Source:
Crexi
Added: Jul 31, 2024
Changed: Oct 9
Last Checked: Oct 20 at 6:04PM
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 Trinh Nguyen
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,500-square-foot retail strip center, constructed in 1997, is situated on a 0.58-acre lot in Missouri City, Texas. The property is fully leased by reliable tenants, including one with a long-term lease of 10 years. Located on the busy Texas Pkwy, the property benefits from high visibility and significant foot traffic. It is adjacent to a newly-built Discount Tire and directly across from the HCC Missouri City campus. The area is experiencing rapid growth, with expanding industrial warehouses, office spaces, and numerous newly-developed residential neighborhoods. The property presents a unique investment opportunity, with no comparable properties available for sale within a 10-mile radius. Current rents are below market rates, offering potential for future increases. Pro-forma NOI for 2025 is projected to reach $97,000. The location provides convenient access to Sugar Land and Pearland.
Key Highlights
- Seller financing available with a low interest rate (more than 50% down payment required).
- Fully leased retail strip center with reliable tenants, including one with a 10‑year lease.
- High visibility location on busy Texas Pkwy, ensuring significant foot traffic.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,954
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,219,080
$1.2M
Cap Rate 7%
$870,771
$870.8K
Cap Rate 9%
$677,267
$677.3K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$92.3K $20.52/SF
− Vacancy
−$5.3K −$1.17/SF
EGI
$87.1K $19.35/SF
− OpEx
−$26.1K −$5.81/SF
NOI
$61.0K $13.55/SF
Area
Fort Bend County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,219,080
Cap Rate 7%
$870,771
Cap Rate 9%
$677,267
Alternative Uses
Best Use
Retail
$870.8K
$761.9K – $1.02M
NOI $60,954 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$56.06M
$49.05M – $65.40M
NOI $3,924,130 @ 7.0% cap · market cap 290.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 39%
Apparel 9%
Electronics 5%
Dollar General
Shops & Services
9,288 visits/mo
0.3 miles
Family Dollar
Shops & Services
8,201 visits/mo
0.5 miles
Church's Chicken
Dining
6,038 visits/mo
0.4 miles
Shipley Do-Nuts
Dining
5,425 visits/mo
0.2 miles
Discount Tire Store
Shops & Services
4,880 visits/mo
0.1 miles
Demographics for 77489, TX
37,257
Population
13,883
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
88%
High-School Grad
11.3 sq mi
ZIP Area
3,297
Density / Sq Mi
$74,097
Median Household Income
$39,189
Median Earnings
$1,797
Median Rent
$209,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail strip center in a high-traffic location.
Where is this strip mall located?
The property is located at 1619 Texas Pkwy Missouri City, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Seller financing available with a low interest rate (more than 50% down payment required).; Fully leased retail strip center with reliable tenants, including one with a 10‑year lease.; High visibility location on busy Texas Pkwy, ensuring significant foot traffic.**
