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Parkway Plaza

1200 TX-35 Loop
 77511

$ 8,052,000

For Sale
Cap Rate: 7.61%
Size: 32,011 SF
Lot Size: 5.83 Acres

OFFERING MATERIALS

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Marcus & Millichap is pleased to offer Parkway Plaza (“Property”) in Alvin (Houston MSA), Texas for your consideration. Consisting of a 32,011 square foot shopping center on a large 5.83 acre corner parcel, Parkway Plaza was constructed in 2019. The Property is 96% leased to an appealing mix of essential businesses and service-oriented retailers, all of which have NNN leases insulating an investor from operating expense increases. The lease roll is staggered and the average base rent is a modest $20.25/SF providing downside protection and the potential for upside.

The Property has excellent visibility and access due to its frontage on the TX-35 Loop. Major retailers line the corridor and are just to the south of Parkway Plaza. These include Home Depot, Walmart Supercenter, McDonald’s, NTB, Starbucks, and Olive Garden among others.

Offered for $8,052,000, Parkway Plaza provides an exceptional opportunity to acquire a brand new, stabilized shopping center for a 7.61 percent CAP rate.

Investment Highlights

  • Brand New 32,011 Square Foot Shopping Center
  • Large 5.83 Acre Corner Parcel Fronting TX-35 Loop
  • 96% Occupied | NNN Leases
  • Staggered Lease Roll | Modest Base Rents Provide Downside Protection
  • Major Retailers in Immediate Area Including Walmart Supercenter and Home Depot
  • $8,052,000 | 7.61% CAP

Justin Miller

First Vice President Investments

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

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