Cap Rate: 7.01%
Size: 9,000 SF
Lot Size: 1.10 Acres
Marcus & Millichap is pleased to offer The Shops at Vicksburg (“Property”) in Missouri City (Houston MSA), Texas for your consideration. The Property was constructed in 2013 and has a stellar location at the entry to a recently-developed, Walmart Supercenter anchored development. It fronts on high-traffic Highway 6 and is just to the west of the Fort Bend Parkway Toll Road, which is the primary route for area residents to access Houston’s urban core.
The Property is 100% occupied by an array of appealing service-oriented tenants including Verizon Wireless, Great Clips, and Made Ya Smile Dental. All of the leases are NNN and provide for full pass through of the Property’s expenses including a management fee. Additionally, the lease roll is staggered with no more than 1 tenant expiring in any given year.
The submarket is characterized by high-end, master planned communities like Sienna Plantation, and benefits from some of the best demographics in the greater Houston area. Average household income exceeds $142,000 in a 3-mile radius, and stays above $127,000 in a 5-mile radius. The population density is notable, with over 151,909 people residing within a 5-mile radius and significant growth projections for the future.
- 9,000 Square Foot Shopping Center | 100% Occupied | 2013 Construction
- 1.1 Acre Outparcel at Entry to Recently-Constructed Walmart Supercenter Anchored Development
- Frontage on High-Traffic Highway 6 | Close Proximity to Fort Bend Parkway Toll Road
- NNN Leases | Minimal Landlord Responsibility
- High Demographic, Master Planned Communities Surround the Property
- Average Household Income Exceeds $142,000 in a 3-Mile Radius