The Shoppes at Westpark

Asking Price: $5,780,000

Net Operating Income: $418,696

Cap Rate: 7.24% (In-Place) / 7.61% (2024 In-Place Rents)

Cash on Cash: 6.99% (In-Place) / 8.02% (2024 In-Place Rents)

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Newly Built (2010) daily needs shopping center, located in one of the top growth markets nationwide (Houston MSA) Richmond/Katy, TX

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- Newly Built (2010) daily needs shopping center, located in one of the top growth markets nationwide (Houston MSA)

- Ideally located along the heavily traveled, Farm-to-Market 1093 Road (19,835 VPD), which is a main thoroughfare road in the area

- All leases are triple-net (NNN), whereby the tenant is responsible for paying and/or reimbursing the landlord for the property taxes, insurance, and common area maintenance (CAM), leaving Landlord with minimal responsibility (Ideal 1031 exchange asset)

- The property features the highest quality construction (built in 2010) - Limited to no deferred maintenance

- Exceptional demographics / Expected growth of over 10% within a 1 mile radius

- Affluent Trade Area - The average household income is over $178,000 within a 1 and 3 mile radius of the Property

- Excellent site configuration with coveted signage, access, and visibility along FM 1093 Road

- Strong Tenant Synergy - The Property consists of daily needs shops (nails, fitness, restaurants, etc), which have proven to be the most stable and e-commerce/recession proof retailers today

- The Subject Property features a rare cross collateralized parking agreement, whereby customers can park anywhere within the overall shopping center, but overall center customers may not be allowed to park in subject property parcel allowing for high use parking tenants to not be affected by parking restrictions

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