Grand Oak Village Lot 1 | Grand Oak Blvd
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Grand Oak Village Lot 1 Grand Oak Blvd
15,000 SF 100% Leased Retail Building League City, TX 77573 $6,000,000 ($400/SF) 7% Cap Rate
Investment Highlights
- Located within the Class-A mixed-use development, Grand Oak Village
- This property is the gateway into a new $1.2 billion convention center development in League City, TX
- Over 120,000 cars per day travel along I-45, with more coming now that the freeway expansion is complete
- Below market rate loan assumption available
- 83% Leased
- Required detention is off-site
Executive Summary
Strategically located just off of I-45 and League City Parkway, Grand Oak Village is currently under development for a Class A, mixed-use retail center. This property is the gateway into a new $850 million development of the convention center in League City, TX. The first phase of 15,000 SF of mixed-use lease space is complete and is 83% leased. This loan is assumable at a below-market rate. Please inquire with the broker for further details. League City is the largest city in Galveston County, encompassing 31.6 percent of the total County population. The population increased by 141 percent, from 45,444 in the year 2000 to 109,454 in 2018, an average annual increase of 7.8 percent.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
15,000 SF
Building Class
B
Year Built
2023
Price
$6,000,000
Price Per SF
$400
Cap Rate
7%
NOI
$420,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Land Acres
1.64 AC
Zoning
General Commercial - General Commercial is the broadest form of zoning in League City.
Frontage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Forum Beauty & Wellness
- Health Care and Social Assistance
- 6,000 SF
- -
- Triple Net
- -
- PJ's Coffee
- Accommodation and Food Services
- 1,550 SF
- -
- Triple Net
- -
- Slate Table + Bar
- Accommodation and Food Services
- 4,450 SF
- -
- Triple Net
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Forum Beauty & Wellness | Health Care and Social Assistance | 6,000 SF | - | Triple Net | - | |
| PJ's Coffee | Accommodation and Food Services | 1,550 SF | - | Triple Net | - | |
| Slate Table + Bar | Accommodation and Food Services | 4,450 SF | - | Triple Net | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 3611-0100-0007-000 | Improvements Assessment | $0 |
| Land Assessment | $1,223,180 | Total Assessment | $1,223,180 |
PROPERTY TAXES
Parcel Number
3611-0100-0007-000
Land Assessment
$1,223,180
Improvements Assessment
$0
Total Assessment
$1,223,180
-
James Brockway -
Brockway Realty LLC
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Grand Oak Village Lot 1 | Grand Oak Blvd
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