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Westbrae Landing Shopping Center 10702-10766 S Gessner Dr

33,400 SF 100% Leased Retail Building Houston, TX 77071 $4,900,000 ($147/SF) 7.85% Cap Rate

Executive Summary

Rent per lessee is guaranteed by the seller for 1 year from the day of signing for unleased space.
Incredible value for a high-traffic property, especially given the large amount of population concentration in this area,
All new roofing and HVAC across all tenants.
Westbrae Landing Shopping Center leases multiple retail tenants, service tenants, and Dominoes.
Over 20,000 people live in a radius of 1 mile, with most of them living in multi-family apartments.
This property resides in an increasingly gentrifying area and incurs increasing traffic by over 20% year over year.
ANCHORS: Directly across from Kroger Superstore.

Property Facts

Sale Type
Investment or Owner User
Sale Conditions
Distress Sale
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
33,400 SF
Building Class
C
Year Built
1987
Price
$4,900,000
Price Per SF
$147
Cap Rate
7.85%
NOI
$384,650
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.38
Lot Size
2.02 AC
Parking
100 Spaces (2.99 Spaces per 1,000 SF Leased)
Frontage
684 FT on Gessner Rd

Amenities

  • Pylon Sign
  • Signage

Nearby Major Retailers

Walmart Neighborhood Market
Bank of America
Hartz Chicken Buffet
Citi
Fiesta

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1156440000010
Land Assessment
$704,768
Improvements Assessment
$1,057,790
Total Assessment
$1,762,558
  • Listing ID: 31951286

  • Date on Market: 4/9/2024

  • Last Updated:

  • Address: 10702-10766 S Gessner Dr, Houston, TX 77071

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