Current Use by Public Records
- Lifestyle centers
Property Details for 10855 Tx-242
- Year built
- 2002
- Lot size
- 1.76 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional freestanding retail building, totaling 5,422 square feet, sits on a 1.76-acre lot in Conroe, Texas, at 10855 TX-242, zip code 77385. Built in 2002 and renovated in 2023, the property boasts a single-story structure with 40 parking spaces. Currently 100% occupied by a credit-rated tenant under a triple-net (NNN) lease, the lease commenced January 1, 2024, and expires January 1, 2029, offering a secure, five-year lease term. The property is categorized as commercial, shopping center, and storefront, making it ideal for various investment strategies. The asking price is $1,750,000. The seller is open to considering a sale-leaseback arrangement, providing flexibility for potential buyers. This property presents a compelling opportunity for investors seeking a stable, income-generating asset with potential for future development given the ample land available. The property's location on Hwy 242 ensures high visibility and accessibility. This is a stabilized investment with owner-user and value-add potential. The property is classified as a single-tenant building within a Montgomery County location.
Value Estimations
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Conroe
- County
- Montgomery
- State
- Texas
- Longitude
- -95.4162
- Latitude
- 30.2087
