Current Use by Public Records
- Piada Italian Street Food / Take-out & Catering / Catering Service
- Cheba Hut Toasted Subs / Take-out & Catering
- Eyecare Redefined / Physician
- De' Lash Studio / Hair Salon
- Woof Gang Bakery & Grooming Fulshear / Pet Grooming Service
Property Details for 4846 Fm 1463 Rd
- Year built
- 2017
- Lot size
- 2.57 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 22,802 square foot, multi-tenant retail property located at 4846 FM 1463 in Katy, Texas, within the thriving Houston MSA. The property, built in 2017, sits on a 2.57-acre lot and boasts a strong NOI of $769,974, resulting in a compelling 6.25% cap rate. Currently housing ten tenants, including prominent national brands like Orangetheory Fitness and Vision Source, this center benefits from a robust lease structure with built-in rent bumps. The property is strategically positioned at the entrance to Cross Creek Ranch, a rapidly expanding 3,200-acre master-planned community projected to have over 7,000 homes. This prime location is further enhanced by its proximity to new schools and enjoys exceptional demographics, with average household incomes exceeding $200,000 within a one-mile radius. The center is anchored by a significant 101,000 square foot H-E-B grocery store, driving substantial foot traffic and contributing to the overall success of the property. This Net Lease investment is offered at $12,320,000 and is suitable for a 1031 exchange. The property's strong tenant mix, prime location, and impressive financial performance make it an ideal addition to any diversified portfolio. The property offers a compelling combination of stability and growth potential within a rapidly developing area.
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
- Katy
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.8463
- Latitude
- 29.7211
