3320 Texas 6 Houston, TX 77082
- Lifestyle centers
- 25,415 SF
- 2.53 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3320 Texas 6
- Year built
- 2004
- Lot size
- 2.53 lot acres
- Property size
- 25,415 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Houston retail investment offers a compelling opportunity. The property comprises three single-story buildings totaling 25,415 square feet on a 2.53-acre lot, situated at 3320, 3402, and 3418 S Texas 6, Houston, TX 77082. Built in 2004, this Class B, multi-tenant retail center boasts 100% occupancy with a diverse tenant mix including Pizza Hut, USPS, Domino's Pizza, UPS, and seven additional tenants. The property features over 500 feet of frontage on Highway 6, benefiting from its location as a shadow center to a high-performing Walmart Supercenter. The current Net Operating Income (NOI) is $656,816, with a projected NOI of $686,000, resulting in a 6.7% cap rate and a pro-forma cap rate of 7.0%. The asking price is $9,800,000, translating to a price per square foot of $385.60. The property is leased under an Absolute NNN lease structure, minimizing management responsibilities. Located in a high-growth area with a population of 143,815 within a three-mile radius and projected submarket growth of 7% over the next three to four years, this investment presents significant long-term potential. The property's Harris County location offers additional tax advantages. This is a stabilized investment with strong cash flow and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.6448
- Latitude
- 29.7223
