8500 Hillcroft Ave Houston, TX 77096
- Lifestyle centers
- 5,236 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 8500 Hillcroft Ave
- Year built
- 1965
- Property size
- 5,236 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 5,236 square foot mixed-use property, located at 8500 Hillcroft Ave, Houston, TX 77096, presents a compelling investment opportunity. The single-story, 1965-built building, renovated in 2020, sits on a 17,420 square foot lot and boasts 25 parking spaces. Currently 100% occupied by three credit-rated tenants (El Conejo Insurance and Tax, H&M Auto Sale, and Chay's Tire Shop) under a triple-net (NNN) lease structure, the property offers a stable income stream. The current lease term is five years, commencing March 1, 2022, with a remaining term of approximately 2.3 years. Rent bumps of 8-10% are included in each renewal. The property features a strong NOI of $99,192, resulting in a 6.84% cap rate and a price per square foot of $276.93. The asking price is $1,450,000. Situated in a high-traffic area with excellent visibility next to a Jack in the Box franchise, this property benefits from its prime location and strong tenant base. The F2 zoning allows for flexibility and adaptability, making it an ideal investment for those seeking a stable, high-return asset in a growing Houston market. The property's established tenants and consistent income stream minimize vacancy risk, while the potential for future rent increases and value appreciation further enhance its investment appeal.
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
- -95.4925
- Latitude
- 29.6872
