Current Use by Public Records
- SHA BEBE CAJUN CAFE / Restaurant
- Indian Palace / Restaurant
- Fairview Plaza / Shopping Center & Mall
- G's Vape Shop - Vape, Hookah, / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice
- CoinFlip Bitcoin ATM / Money Transfer Service / Atm
Property Details for 6850 Highway 6
- Year built
- 2021
- Lot size
- 1.32 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Fairview Plaza, a Class A, 12,420 square-foot shopping center in Missouri City, Texas, is for sale at $5,200,000. This single-story, 2021-built property boasts a 6.19% cap rate (6.73% pro-forma) and a strong NOI of $322,000 ($350,200 pro-forma). Currently 90% occupied (as of December 19, 2023), the center features six diverse tenants including Candy Shake Daiquiri, Hanguk Taekwondo, Michealux's Southern Cuisine, India Palace, G's Vape Shop, and Premium Cut, all under NNN leases with 3% annual rent bumps. The property sits on a 1.321-acre lot with 51 parking spaces and is strategically located on Highway 6, a major thoroughfare with over 58,000 vehicles daily, providing exceptional visibility. Situated near affluent neighborhoods like Riverstone, Sienna, and Lake Olympia, the center benefits from high traffic and strong demographics. One 1,053 square-foot unit remains available, presenting an opportunity for additional income. The property's prime location is further enhanced by its proximity to major retailers including Kroger, Lowe's, Target, Walmart, Kohl's, Hobby Lobby, Home Depot, Aldi, HEB, and CVS. This investment offers a compelling combination of strong current performance and significant upside 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
- Missouri City
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.5566
- Latitude
- 29.5566
