Cap Rate: 8.73%
Size: 21,316 SF
Lot Size: 0.56 Acres
The Shoppes at Myrtle (“Property”) consists of 21,316 square feet of leasable area fronting on North Velasco Street in downtown Angleton, Texas. Also known as North Highway 288 Business, Velasco Street serves as downtown Angleton’s main street and The Shoppes at Myrtle benefits from its high profile, central location on it cater-corner from the Angleton Chamber of Commerce.
Multiple landmarks, restaurants, and attractions are within walking distance of the Property including the Brazoria County Court House, the Ring of Honor, and the Brazoria County Historical Museum. The area has a charming ‘Main Street’ feel and The Shoppes at Myrtle adds to that by housing popular retailers and providing covered walkways to enhance pedestrian traffic.
The Property is currently 97% occupied and features well known boutiques and service-oriented retail tenants on the first floor, and a mix of professional tenants in the executive suites on the second floor. An elevator provides easy access to the second floor, and there are well appointed conference rooms and common areas for the use of the tenants.
All of the tenants have gross leases and there is the opportunity to add value by increasing the average rental rates and converting the retail lease structure to NNN or modified gross.
- 21,316 Square Feet of Gross Leasable Area
- Fronts on Downtown Angleton’s Main Thoroughfare
- Walking Distance to Brazoria County Court House and Angleton Chamber of Commerce
- 97% Occupancy | Retail and Professional Tenants
- All Tenants Have Gross Leases