Current Use by Public Records
- Day care centers
Property Details for 18620 Bellfort St
- Year built
- 2024
- Lot size
- 0.88 lot acres
- Property type
- Day care centers
- Property subtype
- Lifestyle centers
Description
This exceptional Class A, 9,000 square foot retail center in Richmond, TX (Houston MSA), presents a compelling investment opportunity. Built and renovated in 2024, the property boasts a fee-simple ownership structure and features three tenants under NNN leases, commencing April 1, 2024, and expiring May 31, 2031. The current occupancy is 100%, generating a strong NOI of $270,000 and a 6.51% cap rate. The asking price is $4,150,000, translating to $461.11 per square foot. The property includes 37 parking spaces and benefits from built-in 3% annual rent bumps. Situated on a 0.876-acre lot, the land value alone is significant at $76 per square foot. The center is strategically located near major retailers, including Costco, Target, HEB, and PetSmart, and is adjacent to a large master-planned community and a new Amazon fulfillment center, ensuring a robust and growing customer base. The strong demographics of the area, with over 262,000 residents and 130,000 employees within a 5-mile radius and an average household income exceeding $146,000 within a 1-mile radius, further solidify this investment's potential. The current rent is considered below market value, presenting an opportunity for future rental increases. This is a stabilized, multi-tenant NNN investment with franchisee tenants. The property's address is 18620 W Bellfort St, Richmond, TX 77407.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.7085
- Latitude
- 29.661
