20400 Southwest Fwy Richmond, TX 77469

Property Details for 20400 Southwest Fwy

Property size

44,285 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional multi-tenant retail investment opportunity, located at 20400 Southwest Fwy in Richmond, Texas (Houston MSA), presents a compelling opportunity for investors seeking strong returns. The property boasts a 100% occupancy rate, generating a 6.65% cap rate on an asking price of $8,013,000. Comprising 44,285 square feet on a 44,285 square foot lot, the single-building center features 16,218 square feet of net rentable space, priced at $180.94 per square foot. The property benefits from a diverse tenant mix, including national brands like Sherwin-Williams and Enterprise Rent-A-Car, along with other local businesses providing retail, service, and medical offerings. This strategically located center enjoys exceptional visibility at the northwest corner of I-69/US-59 and the Grand Parkway, experiencing high daily traffic counts exceeding 226,000 vehicles. The property's strength is further enhanced by its proximity to a major medical facility, shadow-anchored by Memorial Hermann Hospital and Home2Suites by Hilton, ensuring a stable and resilient revenue stream. The surrounding area demonstrates robust demographics, with over 148,000 residents within a 5-mile radius and an average household income exceeding $172,000 within a 3-mile radius. The property is offered as a triple-net (NNN) lease investment. This is a rare opportunity to acquire a high-performing, stabilized retail asset in a prime Houston MSA location.

Location Insight

City

Richmond

County

Fort Bend

State

Texas

Longitude

-95.6924

Latitude

29.5618