535 Airtex Dr Houston, TX 77090
- Lifestyle centers
- 14,741 SF
- 1.47 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 535 Airtex Dr
- Year built
- 2022
- Lot size
- 1.47 lot acres
- Property size
- 14,741 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 14,741-square-foot, multi-tenant shopping center in Houston, Texas. Built in 2022, this single-building property boasts an attractive design and sits on a 1.47-acre lot with ample parking. The center is currently 100% occupied by six tenants, including a diverse mix of service-oriented and internet-resistant businesses, under NNN leases with personal guarantees. These new leases range from 5 to 10 years, with current rents below market value. A prominent double-sided monument sign enhances visibility. Located on West Airtex Drive, near the intersection with Ella Boulevard, the property benefits from high traffic counts exceeding 20,338 vehicles daily. The strategic location serves a dense residential area, with over 302,716 residents within a five-mile radius. The property's strong performance is reflected in its $4,878,700 asking price, a 7.25% cap rate, and a net operating income (NOI) of $353,705. The property's proximity to major retailers and George Bush Intercontinental Airport further enhances its appeal. This is a rare opportunity to acquire a high-performing, newly constructed retail center in a thriving Houston market. The nine units are spread across the single building.
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
- -95.4332
- Latitude
- 29.9837
