380 Rd Cleveland, TX 77327
- Retail properties
- 10,500 SF
- 1.07 lot acres
Current Use by Public Records
- Retail properties
Property Details for 380 Rd
- Year built
- 2024
- Lot size
- 1.07 lot acres
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 10,500 square foot Family Dollar storefront in Cleveland, Texas, within the Houston MSA. Built in 2024, the property boasts a 9.7-year remaining lease term (expiring July 31, 2034) with six 5-year renewal options, ensuring long-term income stability. The property features a Net Net + lease structure, minimizing landlord responsibilities to roof, structure, and parking lot. The tenant, Family Dollar, is credit-rated and backed by a corporate guarantee, offering significant financial security. With a 7.50% cap rate and a strong NOI of $144,375, this asset provides an attractive return on investment. Situated on a 1.07-acre lot within a rapidly growing master-planned community (Santa Fe), this location benefits from a burgeoning population (currently estimated at 40,000 residents) and significant projected growth, including 25 planned schools and numerous commercial developments. The property's essential retail nature and location within a thriving community contribute to its resilience and long-term potential. The asking price is $1,925,000, representing a price per square foot of $183.33. This is a rare opportunity to acquire a high-quality, income-producing asset in a dynamic Texas market. The property is located at 380 Rd 5603, Cleveland, TX 77327, approximately 30 miles northeast of downtown Houston.
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
- Cleveland
- County
- Liberty
- State
- Texas
- Longitude
- -95.0285
- Latitude
- 30.177
