11808 Barker Cypress Rd
Cypress, TX 77433

Stone Gate Shopping Center consists of an L-shaped retail building with multiple access points from Barker Cypress Road and Queenston Boulevard. It benefits from being at a signalized intersection where high traffic Barker Cypress has twenty-four-hour traffic counts of over 45,000 cars per day. The property has 21,165 square feet of which all of the nine tenant spaces are leased except for a 1,200 square foot end cap on Barker Cypress which was formerly an AT&T cell phone store that relocated to a larger footprint. Three tenants, the Nail Shop, Cleaners, and Lori Logan DDS, who is currently expanding her space by 50 percent, have been in the center since 2005. They account for 7,465 square feet or 35 percent of the property. The remaining tenants lease commencements range from 2008-2016. No lease expires before the end of 2019 except for the Kolache/Donut store which goes through the end of this year. All leases are NNN with tenant expense reimbursement pass throughs for management at 5 percent. Most of them also include a 15 percent administrative fee. Tenants are service oriented and have businesses that are neighborhood in nature. The largest one is Martial Arts USA which has a professional staff of instructors from Korea teaching Tae Kwon Do. It is a well run business that is involved with the community. Built in 2004, Stone Gate Shopping Center was constructed using stucco with stone accents on the exterior and anodized aluminum store fronts with tinted glass. It has very good curb appeal and features concrete drives/parking lot as well as a wide service drive that runs the whole property accessing both major streets. Bay depths are mainly sixty feet, though a couple of them have parts of their space that exceed that. It has a brick monument pylon sign on Barker Cypress which enhances tenant identification. On the corner of Barker Cypress and Queenston in front of the property is an ornate Stone Gate subdivision two sided stone engraved marker beautifully landscaped with shrubs and flowers. The property shares the parking lot with a brick building that houses a medical lab that is not a part of this offering. Stone Gate Shopping Center has several distinct advantages over alternative shopping center investments in the Houston area. It is not only in the high growth Cypress market but at one of its most major corners which is south of Highway 290 being at Queenston and Barker Cypress. It also has a rental structure far below newer construction centers leasing for over thirty dollars per square foot NNN. Stone Gate rents are mainly in the upper teens to lower twenties per square foot NNN. There is room to increase rents here as well as lease up the vacancy. An investor can look forward to owning a stable property with potential appreciation with Stone Gate Shopping Center.