Cap Rate: 5.56%
Size: 6,656 SF
Lot Size: 0.81 Acres
Marcus & Millichap is pleased to offer Fairmont Crossing (“Property”) in Pasadena (Houston MSA), Texas for your consideration. Consisting of a newly renovated 6,656 square foot shopping center on a prime .81 acre corner parcel, the Property offers significant upside by way of leasing its 2,534 square feet of vacancy. Major retailers and medical tenants surround the Property as a result of its location fronting high-traffic Fairmont Parkway.
Fairmont Crossing’s location on Houston’s southeast side places it in close proximity to several major economic drivers for the region including the Houston Ship Channel, NASA’s Lyndon B. Johnson Space Center, the Bayport Shipping Terminal, the Bayport Industrial District, and the Pasadena Refining System. Accordingly, the population density surrounding the Property is impressive, with more than 304,000 people residing within a 5-mile radius of the Property. In addition, the daytime population exceeds 290,000 people within that same radius, providing the Property’s tenants the opportunity for consistent customer and patient traffic throughout the day.
This offering provides an investor the opportunity to acquire a newly redeveloped property offering substantial upside in a fantastic location.
- 6,656 Square Foot Shopping Center | Newly Renovated
- 35,114 Square Foot Corner Parcel Fronting High-Traffic Fairmont Parkway
- Major Retailers and Medical Tenants in Immediate Area
- Proximate to Several Economic Drivers for the Region including NASA and Houston Ship Channel
- The Population Exceeds 304,000 People within a 5-mile Radius
- Upside Opportunity | 2,534 Square Feet of Vacancy