Cap Rate: 8.13%
Size: 37,276 SF
Lot Size: 2.34 Acres
Marcus & Millichap is pleased to offer Cypress Center in Houston, Texas for your consideration. This 37,276 square foot mixed-use property consists of retail and industrial tenants and sits on a large 2.34 acre corner parcel fronting FM 1960. Average daily traffic counts exceed 41,500 vehicles per day, providing excellent visibility and access for the property’s tenants, the majority of which provide essential services to the community.
Cypress Center underwent an extensive renovation that was completed in 2020. The enhanced curb appeal and capital improvements have helped stabilize the property at 100% occupancy. All of the leases are NNN, and the average base rent per square foot is a low $11.51, providing downside protection for an investor and creating the opportunity for upside.
Access to the property is excellent with three access points on FM 1960, and two on Solon Road. Future plans for FM 1960 include a signalized intersection at the corner with Solon Road, which will further improve access and visibility for the property.
Offered for $4,960,000, Cypress Center provides investors the unique opportunity to acquire a recently renovated property that is fully stabilized and generating a current 8.13 percent CAP rate in a high-traffic corridor.
- 37,276 Square Foot Mixed-Use Property
- Retail and Industrial Tenants Providing Essential Services
- 2.34 Acre Corner Parcel
- Frontage on High-Traffic FM 1960
- Recent Renovation Completed in 2020 | 100% Occupancy
- NNN Leases & Low Base Rent Protect Downside and Provide Opportunity for Upside
- $4,960,000 | $133/SF | 8.13% CAP