28616 Us-290 Cypress, TX 77433

Property Details for 28616 Us-290

Year built

2015

Lot size

5.50 lot acres

Property size

71,680 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple interest in a 71,680 square foot Academy Sports + Outdoors, located at 28616 US-290 in Cypress, Texas, within the Fairfield Town Center. The property sits on a 5.5-acre lot and boasts a strong 100% occupancy rate under a 20-year absolute NNN lease, with approximately 11.2 years remaining until the primary lease term expires. The lease includes four, five-year renewal options, providing long-term stability and predictable income. Rent escalations of $0.28 per square foot occur every five years, ensuring consistent growth in rental income. The current Net Operating Income (NOI) stands at $476,000, yielding a 6.60% cap rate. The asking price is $7,210,000. Built in 2015, this location benefits from significant traffic volume along US 290 (92,000 vehicles per day) and is strategically positioned within a thriving retail center alongside other major retailers. The property's tenant, Academy Sports + Outdoors, is credit rated and backed by a corporate guarantee, minimizing risk. This investment is further enhanced by the strong demographics of the area, including a 120% population growth since 2010 and average household incomes exceeding $168,000 within a five-mile radius. This Academy Sports + Outdoors location ranks in the top 38% of most visited locations nationwide. Fairfield Town Center itself ranks in the top 1% of most visited shopping centers nationally. This offering presents a compelling opportunity for investors seeking a stable, high-performing retail asset in a rapidly growing market. The property's below-market rent provides significant upside potential.

Location Insight

City

Cypress

County

Harris

State

Texas

Longitude

-95.747

Latitude

29.9933