For Sale
Cap Rate: Confidential
Size: 10,000 SF
Lot Size: 1.53 Acres
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Marcus & Millichap is pleased to offer Shops at Woodcreek (“Property”) for your consideration. Completed in 2018, the Property consists of a 10,000 square foot shopping center on a 1.53-acre parcel in the WoodCreek Reserve master planned community of Katy (Houston MSA), Texas. Shops at Woodcreek is 51.8 percent occupied with NNN leases that provide for full pass through of the property’s expenses including a management fee.
The Property’s tenants are a desirable mix of retailers that cater to the strong demographics in the submarket. They include Shipley Do-Nuts, Tune Up Manly Salon and Marco’s Pizza. Additional prominent retailers in the area include Kroger, Chase Bank, Wendy’s, 24-hour Fitness, Christian Brothers, and CubeSmart among others. Fronting on Farm to Market 1463 Road, Shops at Woodcreek offers achievable upside for the savvy investor by way of leasing up the remaining vacancy in an already flourishing retail corridor.
Furthermore, the Property’s location in the heart of the WoodCreek Reserve community is a tremendous asset. WoodCreek Reserve is a 500-acre master-planned community that offers residents quick access to I-10, Grand Parkway, Westheimer, Sam Houston Tollway, the Energy Corridor, and Katy Mills Mall. This master planned community sits on the west side of Houston and is within the boundaries of Katy Independent School District, one of Texas’ top performing school districts. As a result, WoodCreek Reserve has attracted some of the strongest demographics in the Houston MSA with average household incomes over $174,000 in a 1-mile radius.
Investment Highlights
- Recent 2018 Construction
- 10,000 Square Foot Shopping Center | 1.53 Acre Parcel
- NNN Leases | Staggered Rent Roll | Attractive Retail Corridor
- Strong Demographics | 174,000+ Average Household Income in 1-mile
- Desirable WoodCreek Reserve Master Planned Community Location
