Current Use by Public Records
- pOpshelf / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
Property Details for 230 Bypass 35
- Year built
- 2022
- Lot size
- 1.05 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fee-simple ownership of a 10,730 square foot pOpshelf retail store, located at 230 N Bypass 35, Alvin, TX 77511, within Brazoria County. The property, built in 2022, sits on a 1.05-acre lot and boasts a 100% occupancy rate. The current lease, an absolute NNN structure, commenced December 9, 2022, and extends to December 31, 2037, offering a substantial remaining term of 13.1 years. The tenant, pOpshelf (backed by a corporate guarantee from Dollar General Corporation), provides a credit-rated and financially secure lease. The lease includes four, five-year options with a 10% rent increase at each option period. The asking price is $2,305,000, representing a price per square foot of $214.82 and a compelling 5.85% cap rate based on a net operating income (NOI) of $134,796. This strategically located property benefits from high traffic counts (56,000+ vehicles per day) and proximity to a substantial population base (280,000+ within a 10-mile radius). The shopping center enjoys strong co-tenancy with established businesses such as The Home Depot, Office Depot, Starbucks, Olive Garden, Chili's, and NTB. This presents a rare opportunity to acquire a high-performing, low-maintenance retail asset with significant long-term growth potential.
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
- Alvin
- County
- Brazoria
- State
- Texas
- Longitude
- -95.2247
- Latitude
- 29.4252
