13615 Kluge Rd Cypress, TX 77429-2326

Property Details for 13615 Kluge Rd

Year built

2014

Construction

METAL FRAME

Lot size

1.97 lot acres

Property size

4,200 SF

Property type

Retail space

APN

1366070010001

APU

1366070010001

Description

Kluge Lakes Center, located at 13615 Kluge Rd, Cypress, TX 77429, presents a compelling multi-tenant investment opportunity. This stabilized, 100% occupied retail property boasts 13,500 square feet of net rentable space within a single building situated on an 86,000 square foot lot. The property offers a 7.00% cap rate and is priced at $3,275,000. The center benefits from a strong tenant mix of internet-resistant businesses, including fitness and service providers, ensuring consistent income streams. The location within the highly desirable Cypress trade area, Harris County, is strategically positioned at the entrances of Kluge Lake and White Oak Lake Estates, surrounded by established neighborhoods with high home values exceeding $325,000 within a one-mile radius. The area's demographics are exceptionally strong, with over 262,800 people within a five-mile radius and an average household income exceeding $203,200 within one mile. A significant value-add opportunity exists with the potential for Phase II development on the included land, allowing for an approximate 8,000-9,000 square foot expansion of the gross leasable area. This expansion would require repositioning on-site detention to accommodate additional parking needs. This property represents a rare opportunity to acquire a high-performing retail center with significant upside potential in a prime location.