Property profile

1701 Fairway Dr Alvin, TX 77511

FOR LEASE
Strip malls
Property ID
US82-4192854
67,723 SF 7.87 ac lot Built 1980
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

Invest in the Fairway Shopping Center, a prime retail property situated at the intersection of Hwy 35 South and Fairway in Brazoria County. This 91,360 square foot center boasts a strong national tenant presence, anchored by Planet Fitness, and surrounded by complementary businesses including Palais Royal, Rue 21, and Cici's Pizza. Currently, there are three suites available, with a significant 72,838 square feet of vacant space presenting a unique opportunity for expansion or new tenancy. The property sits on 8.52 acres of land and was built in 1983. Its strategic location offers exceptional visibility from Hwy 35, ensuring high traffic and customer exposure. The center also benefits from its proximity to Alvin Community College, providing a substantial customer base. Ample on-site parking and easy access in and out of the center further enhance its appeal. In addition to the retail space, warehouse space is also available for lease, adding to the property's versatility and investment potential. This is a rare opportunity to acquire a well-located retail center with significant upside potential in a growing market. The existing tenant mix provides a solid foundation for future growth and expansion.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1980
Total area 67,723 SF
Lot 7.87 ac (342,817 SF)
APN 0161-0057-130
UPID US82-4192854

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gym & Fitness Center
  • Physician
  • Take-out & Catering Butcher
  • Pharmacy
  • Discount Store

Location

1701 Fairway Dr Alvin, TX 77511
Alvin metro Census 661601 HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$920k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.98M
Blend (final) Blend
$1.45M

Owner & transaction history

since 2023
5 recorded transactions
2023
Price N/A
2017
Price N/A
2016
Price N/A
2007
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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