Clay Plaza Center | 100% Leased | 55K+ VPD | 19214 Clay Rd
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Clay Plaza Center | 100% Leased | 55K+ VPD 19214 Clay Rd
41,800 SF 100% Leased Retail Building Online Auction Sale Katy, TX 77449
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Investment Highlights
- Clay Plaza Center at 19214 Clay Road is a 100% occupied, well-established investment that is home to 14 tenants.
- Cash-flowing investment opportunity to acquire a popular local retail center with recent improvements, renovations, and a brand new roof in 2021.
- Shopping center features a well-lit, fenced-in lot that offers 80 surface spaces and prominent pylon signage.
- Katy, Texas, is part of the Houston MSA, and the center is ideally located among heavily trafficked intersections that see more than 55,000 VPD.
- All tenants are long-term, including the two national tenants, Subway and PostNet.
Executive Summary
Grey Realty is pleased to present the lucrative investment opportunity of the retail center at 19214 Clay Road. This presents buyers with the opportunity to acquire a 100% occupied multi-tenant retail center in Katy, Texas. The center is home to primarily non-credit tenants and two national tenants, Subway and PostNet. Subway, the end-cap tenant, is a fast-food restaurant franchise, and PostNet is a graphic design and printing services franchise. Other local tenants include a pharmacy, church, child daycare center, insurance/ tax servicer, dentistry, and a hair salon. Subway has renewed its lease through December 2035, and PostNet has renewed through August 2028. Each tenant benefits from building signage and the prominent pylon signage at the primary entrance of the shopping center, which has exposure to over 55,000 combined daily vehicles via Clay Road and Greenhouse Road. The building was originally constructed in 1984, with the addition of a new roof and fascia work completed in 2021.
Clay Road Shopping Center is a stabilized 41,800-square-foot shopping center in the high-growth Far Katy North submarket. Located at the corner of Greenhouse and Clay Road, it is directly across from the new Cardiff Middle School and adjacent to the Grand Oaks and Windcrest subdivisions, two of the submarket's most significant new developments. Far Katy North is approximately 30 miles west of Downtown Houston. It offers convenient freeway access along Grand Parkway – State Highway 99 – and Interstate 10, leading to easy travel further into the submarket’s retail corridor.
The submarket's median household incomes are higher than the Houston median, which is $79,000, especially towards the Western side, where most households earn above $120,000, providing higher potential household purchasing power. As an affluent, exurban submarket, it is one of the fastest-growing retail nodes in Houston. Looking ahead, robust demographic growth should continue to sustain the local retail sector as residents search for more affordable housing options on the west side of Houston within commuting distance of job centers along Interstate 10. Recently, discount stores, quick-service restaurants, and fitness users have fueled demand for retail space. Of 19214 Clay Road’s 5-mile demographics, the local population of 313,913 generates an annual consumer spending surpassing $3.3 billion.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Clay Road Shopping Center is a stabilized 41,800-square-foot shopping center in the high-growth Far Katy North submarket. Located at the corner of Greenhouse and Clay Road, it is directly across from the new Cardiff Middle School and adjacent to the Grand Oaks and Windcrest subdivisions, two of the submarket's most significant new developments. Far Katy North is approximately 30 miles west of Downtown Houston. It offers convenient freeway access along Grand Parkway – State Highway 99 – and Interstate 10, leading to easy travel further into the submarket’s retail corridor.
The submarket's median household incomes are higher than the Houston median, which is $79,000, especially towards the Western side, where most households earn above $120,000, providing higher potential household purchasing power. As an affluent, exurban submarket, it is one of the fastest-growing retail nodes in Houston. Looking ahead, robust demographic growth should continue to sustain the local retail sector as residents search for more affordable housing options on the west side of Houston within commuting distance of job centers along Interstate 10. Recently, discount stores, quick-service restaurants, and fitness users have fueled demand for retail space. Of 19214 Clay Road’s 5-mile demographics, the local population of 313,913 generates an annual consumer spending surpassing $3.3 billion.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Houston - TX USA
Market Cap Rate
Houston - TX USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Freestanding
Building Size
41,800 SF
Building Class
C
Year Built/Renovated
1984/2021
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
2.62 AC
Zoning
None
Parking
80 Spaces (1.91 Spaces per 1,000 SF Leased)
Frontage
369 FT on Clay Rd
Amenities
- Pylon Sign
- Monument Signage
About Far Katy North
This part of Houston has enjoyed significant developer interest in recent years, benefiting from its strong population growth over the past decade. Katy's population has doubled over the past decade, one of the fastest rates of growth in the country.
The area’s largest retail tenants are typical of new suburban development, including Walmart, Kroger, Sam’s Club, Kohl’s, and H-E-B. New multifamily properties have cropped up in and around the neighborhood, especially towards the northwestern portion of this area, providing retailers with a broad base of consumers. Katy enjoys access to several major state highway routes including State Highway 6, the Grand Parkway (State Highway 99), and Interstate 10.
The Grand Parkway loop that traverses this area offers opportunities for the development of all property types. From national retailers in mixed-use shopping centers to residential communities, the Grand Parkway attracts major projects as developers capitalize on wide swaths of vacant land.
Retail buildings here are more affordable than those in more urban areas throughout Houston, which also offers investors and owners an attractive opportunity to own in an area with strong income and population growth potential.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
19,546
150,433
313,913
2020 Population
19,590
151,478
314,002
2029 Population
19,956
153,450
320,613
2024-2029 Projected Population Growth
2.1%
2.0%
2.1%
Daytime Employees
1,856
19,732
78,774
Total Businesses
354
2,942
10,098
Average Household Income
$95,719
$89,285
$94,292
Median Household Income
$80,392
$78,506
$79,442
Total Consumer Spending
$198M
$1.5B
$3.3B
Median Age
34.6
33.7
34.4
2024 Households
5,718
45,854
99,729
Percent College Degree or Above
14%
17%
21%
Average Home Value
$215,257
$212,205
$242,782
PROPERTY TAXES
| Parcel Number | 0480600000014 | Improvements Assessment | $1,342,057 |
| Land Assessment | $685,104 | Total Assessment | $2,027,161 |
PROPERTY TAXES
Parcel Number
0480600000014
Land Assessment
$685,104
Improvements Assessment
$1,342,057
Total Assessment
$2,027,161
Sale Advisor
Sale Advisor
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Derek Rudd
Contact
Auctioneer License:
Ten-X Commercial, LLC Todd Siegel RE Brkr 9004662
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Clay Plaza Center | 100% Leased | 55K+ VPD | 19214 Clay Rd
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