Cap Rate: Confidential
Size: 21,319 SF
Lot Size: 2.11 Acres
Marcus & Millichap is pleased to offer Kroger Fairmont Parkway Shopping Center (“Property”) in La Porte (Houston MSA), Texas for your investment consideration. Consisting of a 100 percent leased, 21,319 square foot shopping center, the Property sits on a large 2.11 acre parcel adjacent to the high-trafﬁc intersection of State Highway 146 and Fairmont Parkway. This central location in La Porte serves as the retail hub for much of the area as reﬂected by the numerous national retailers at the intersection including Kroger, McDonald’s, KFC, Wells Fargo and Taco Bell.
Kroger Fairmont Parkway Shopping Center houses a complimentary mix of tenants that include Anytime Fitness, TGF Haircutters, AT&T, Wingstop & Jersey Mikes to name a few. Some of the tenants have occupied the Property for nearly 20 years demonstrating the quality of the location for their businesses. All of the tenants have NNN leases and modest base rents relative to other properties in the corridor, insulating a landlord from downside and providing the potential for upside.
La Porte continues to experience positive population growth due, in large part, to its strategic location near to some of the Houston area’s biggest economic drivers, including the Port of Houston and Houston Ship Channel. In addition, La Porte has two industrial districts further solidifying its status as a major contributor to the Houston area’s economy. Area demographics reﬂect this, with average household incomes of nearly $100,000 within a ﬁve-mile radius.
Kroger Fairmont Parkway Shopping Center offers investors a rare blend of stability and opportunity as a result of its’ irreplaceable location, appealing tenant mix, and modest in-place rents.
- 21,319 Square Foot Shopping Center | Shadow-Anchored by Kroger
- 2.11 Acre Parcel Adjacent to Major Intersection of State Highway 146 and Fairmont Parkway
- 100% Leased | NNN Leases
- Strategic Location in Growing Area near Major Economic Drivers
- Appealing Demographics | Average Household Income Near $100,000 within a 5-Mile Radius