1619 Texas Pkwy Missouri City, TX 77489

Property Details for 1619 Texas Pkwy

Year built

2002

Lot size

0.58 lot acres

Property size

4,500 SF

Zone code

X

Property type

Commercial real estate

APN

0264-00-000-0124-907

APU

264000000124907

Description

This exceptional 4,500 square foot retail strip center presents a compelling investment opportunity in the thriving Missouri City, Texas market. Located on the high-traffic Texas Parkway, this fully leased Class C property boasts four tenants, including one with a 10-year lease, ensuring consistent income. Built in 1997 on a 0.58-acre lot, the property benefits from its prime location adjacent to a newly constructed Discount Tire and directly across from the Houston Community College Missouri City campus, guaranteeing high visibility and foot traffic. Currently operating at 100% occupancy, the property generates a strong NOI of $74,640, with a pro-forma NOI projected at $79,735, and a potential to reach $97,000 by 2025. Below-market rents offer significant upside potential for future income growth. The property's strategic location within a rapidly expanding area, surrounded by new residential and commercial developments, further enhances its long-term value. This unique investment opportunity, with no comparable properties within a 10-mile radius, is offered at $1,350,000, representing a 5.53% cap rate and a pro-forma cap rate of 5.91%. Seller financing is available with a down payment exceeding 50% and a low interest rate. The property's strong tenant base, prime location, and significant growth potential make it an ideal addition to any investment portfolio.

Location Insight

City

Missouri City

County

Fort Bend

State

Texas

Longitude

-95.5265

Latitude

29.6042

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments