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Grove Heights

Under Contract

1900 W 18th St
 77008

Under Contract
Cap Rate:
Size: 18,947 SF
Lot Size: 1.52 Acres

OFFERING MATERIALS

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Marcus & Millichap is pleased to offer Grove Heights (“Property”) for your consideration. Consisting of an 18,947 square foot shopping center on a 1.52 acre parcel, Grove Heights is 100% leased by an appealing mix of service-oriented tenants. Tenants include Sola Salon Studios, Domino’s Pizza, I Love Kickboxing, and the renowned Kojak’s Fine Foods. All of the leases are NNN and provide for reimbursement of a management fee.

Grove Heights is well located in Houston’s Inner Loop and fronts on West 18th Street near the sought-after Heights and Oak Forest / Garden Oaks neighborhoods. As a result, demographics are outstanding with average household income exceeding $110,000 in a one-mile radius. An extensive renovation of the Property was completed in 2018 which, coupled with the Property’s below market rent of $22.43 per square foot, should provide downside protection and the opportunity for future upside.

Investment Highlights

  • 18,947 Square Foot Shopping Center | 1.52 Acre Parcel
  • 100% Leased | NNN Leases | Recent Renovation
  • Excellent Central Location in Houston’s Inner Loop
  • Frontage on West 18th Street near the Heights and Oak Forest / Garden Oaks
  • Outstanding Demographics | AHI Exceeds $110,000 in a 1-Mile Radius
  • Below Market Rent Averaging $22.43 Per Square Foot

Justin Miller

First Vice President Investments

(713) 452-4287
Justin.Miller@marcusmillichap.com

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