Westheimer Shopping Center
$3,100,000
13660 Westheimer Rd, Houston, TX 77077
Cap Rate
7.4%
Square Feet
15824
Year Built/Renovated
1980
INVESTMENT HIGHLIGHTS
• Prime Location: This retail center is positioned along Westheimer Road (40,000+ vehicles per day).
• Dense Submarket: This area boasts a population of nearly 350,000 residents in a five-mile radius.
• Stabilized Property: This fully occupied center has a diverse tenant mix, including an auto shop and barber shop.
• Upside Potential: The property features affordable, below-market rents, allowing for further rent increases during ownership period.
• Proximity to National Retailers: Located near Target, Chase Bank, Chipotle, AT&T, Burlington, Starbucks, Wendy’s, Michaels, PetSmart, and more, further boosting consumer draw to the area.
PROPERTY DESCRIPTION
Marcus & Millichap is pleased to exclusively offer for sale Westheimer Shopping Center, a 15,824-square-foot shopping center, situated on 1.08 acres. The property is located at 13660 Westheimer Road in Houston, Texas, seeing traffic counts of over 40,000 vehicles per day. Its location in the West Houston submarket benefits from being surrounded by a population of nearly 350,000 people within a five-mile radius.
The subject property boasts 100 percent occupancy at affordable, below-market rents. Westheimer Shopping Center is offered for sale at a price of $3,100,000, at a 7.4 percent day one cap rate. An investor may increase the net operating income and add value to the property by raising below-market rents and reconciling triple-nets, as allowed per the leases.
Scott Jones
ASSOCIATE
713-452-4359
Alex Wolansky, CCIM
FIRST VICE PRESIDENT
713-452-4292
Gus N. Lagos
SENIOR VICE PRESIDENT
