Spring, TX Spring Plaza 2015 Spring Stuebner Road, Spring, TX Cap Rate 6.25% Houston County ( Texas, US ) Built

$5,333,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 10,720 sq. ft.
  • Development Level: Built
  • Year Built: 2020

Description

Spring, TX Spring Plaza 2015 Spring Stuebner Road, Spring, TX Cap Rate 6.25%

Cap Rate: 6.25%
NOI: $333,340
Building Size: 10,720 sqft
Occupancy: 100%
Year Built: 2020

Price: $5,333,000 USD

DESCRIPTION
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Spring Plaza, a newly constructed, 100% occupied, NNN leased, 5-tenant investment property located in Spring, Texas. All of the tenants recently executed brand new 10-year leases with options to extend, demonstrating their strong commitment to the site. The e-commerce resistant tenant mix consists of HotWorx, Smoothie King, Wingstop, A Couple of Vets, and an Optometry Office. All tenants are on NNN leases, limiting the expense leakage for future investor.

The building was recently constructed and features an all new modern design and amenities. Spring Plaza is strategically located at the signalized, hard corner intersection of Spring Stuebner Road and Spring Plaza Drive, averaging a combined 17,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage along both cross-streets. The asset profits from nearby on/off ramp access to Interstate 45 (110,000 VPD), a major north/south commuter thoroughfare and a primary route for travelers going to/from Houston and Dallas. The subject property is within close proximity to multiple shopping centers including The Market at Springwoods Village (158,300 SF), Northland Shopping Center (179,000 SF), and Louetta Central (183,200 SF). Nearby shopping centers significantly increase consumer draw to the immediate trade area and promote crossover retail exposure for the site. The retail corridor is home to a variety of national/credit tenants including Walmart Supercenter, Kroger, Aldi, Ross Dress for Less, Kohl’s, Dollar tree, and more, further increasing exposure and crossover synergy for the asset. Moreover, the site is directly adjacent to newly constructed apartment complexes Alexan Exchange (352 units) and Arium Spring Crossing (307 units), providing the asset with a direct residential consumer base from which to draw. The 5-mile trade area is supported by a dense population of more than 239,800 residents and 77,900 employees. The immediate 1-mile population boasts an affluent average household income of $109,000.

For more information
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.