TRUE 10 CAP CLASS A EVENT CENTER IN SUGAR LAN | 16555 Creek Bend Dr
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TRUE 10 CAP CLASS A EVENT CENTER IN SUGAR LAN 16555 Creek Bend Dr
10,288 SF Retail Building Sugar Land, TX 77478 $5,500,000 ($535/SF) 10% Cap Rate
Investment Highlights
- Expect gross income to exceed $1.05 million in 2024 vs $940,415 in 2023.
Executive Summary
EXCELLENT CAP: 10% / OUTSTANDING LOCATION / FUTURE UPSIDE BUILT IN!
PURCHASE INCLUDES 10,288 SQFT OF BUILDING ON 1.79 ACRES OF LAND & PARKING WITH ACTIVE BUISNESS!
There is $250,000 in deposits, which is only 40% of the amount owed for schedules events.
SHOWN BY APPT ONLY! DO NOT APPROACH EMPLOYESS! OR YOU WILL NOT BE ABLE TO BUY PROPERTY!
This Event Center, now called Milano’s, was designed for Wedding Ceremonies, Corporate Training, Shows, Quinceanera, Bar Mitzvah, Family Celebration, Holiday Party and Political Events.
Facing Beautiful Brooks Lake this Event Center is a First Class venue with stunning accent lighting, three (3) customizable spaces and two kitchen prep facilities.
It is considered the most elegant top event facility in Southwest Houston and Sugar Land.
Sugar Land is located in eastern Fort Bend County approximately 20 miles southwest of downtown Houston.
A full-service Master-Planned community, Sugar Land, provides the highest quality of affordable services to meet the needs of its residents. enhance home values and create a sense of belonging. The community offers outstanding schools, libraries, civic organizations and other resources that make Sugar Land a great place to work. Sugar land has a devirse population made up of 33% Asian, 32% White, 27% Asian- Indian and 8% Black.
Numerous high-profile regional and international corporations have chosen Sugar Land as a corporate home, including Minute Maid and Schlumberger, Tramontina USA, Bechtel Equipment Operations, Noble Drilling, Money Management International and Aetna.
Sugar Land's aggressive economic development program has created a business-friendly environment, one that includes a variety of incentives, including a corporate aviation facility.
Property Tax Base: $19.10 billion. Developed Land-Use Mix: Residential: 77.45%. Commercial: 15.28%. Industrial: 7.27%. Bond Ratings: Standard & Poor's: AAA. Fitch Ratings: AAA. Average
Residential Value: $478,200. Median Income $123,400.
PURCHASE INCLUDES 10,288 SQFT OF BUILDING ON 1.79 ACRES OF LAND & PARKING WITH ACTIVE BUISNESS!
There is $250,000 in deposits, which is only 40% of the amount owed for schedules events.
SHOWN BY APPT ONLY! DO NOT APPROACH EMPLOYESS! OR YOU WILL NOT BE ABLE TO BUY PROPERTY!
This Event Center, now called Milano’s, was designed for Wedding Ceremonies, Corporate Training, Shows, Quinceanera, Bar Mitzvah, Family Celebration, Holiday Party and Political Events.
Facing Beautiful Brooks Lake this Event Center is a First Class venue with stunning accent lighting, three (3) customizable spaces and two kitchen prep facilities.
It is considered the most elegant top event facility in Southwest Houston and Sugar Land.
Sugar Land is located in eastern Fort Bend County approximately 20 miles southwest of downtown Houston.
A full-service Master-Planned community, Sugar Land, provides the highest quality of affordable services to meet the needs of its residents. enhance home values and create a sense of belonging. The community offers outstanding schools, libraries, civic organizations and other resources that make Sugar Land a great place to work. Sugar land has a devirse population made up of 33% Asian, 32% White, 27% Asian- Indian and 8% Black.
Numerous high-profile regional and international corporations have chosen Sugar Land as a corporate home, including Minute Maid and Schlumberger, Tramontina USA, Bechtel Equipment Operations, Noble Drilling, Money Management International and Aetna.
Sugar Land's aggressive economic development program has created a business-friendly environment, one that includes a variety of incentives, including a corporate aviation facility.
Property Tax Base: $19.10 billion. Developed Land-Use Mix: Residential: 77.45%. Commercial: 15.28%. Industrial: 7.27%. Bond Ratings: Standard & Poor's: AAA. Fitch Ratings: AAA. Average
Residential Value: $478,200. Median Income $123,400.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,288 SF
Building Class
B
Year Built/Renovated
2014/2023
Price
$5,500,000
Price Per SF
$535
Cap Rate
10%
NOI
$550,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Land Acres
1.79 AC
Zoning
Retail
Parking
93 Spaces (9.04 Spaces per 1,000 SF Leased)
Frontage
280 FT on Creekbend Drive
Amenities
- 24 Hour Access
- Atrium
- Security System
- Signage
- Automatic Blinds
- Recessed Lighting
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 4778-31-002-0090-907 | Improvements Assessment | $2,140,128 |
| Land Assessment | $1,059,872 | Total Assessment | $3,200,000 |
PROPERTY TAXES
Parcel Number
4778-31-002-0090-907
Land Assessment
$1,059,872
Improvements Assessment
$2,140,128
Total Assessment
$3,200,000
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TRUE 10 CAP CLASS A EVENT CENTER IN SUGAR LAN | 16555 Creek Bend Dr
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