PRICE
NOI
CAP RATE
Net Operating Income
$ 1,575,537
$ 98,471
6.25%
INVESTMENT HIGHLIGHTS
• Applebee's Restaurant, american casual dining brand with more than 2,000 locations
• Independent Pad in Westgate Market Shopping Center in Katy, Houston
• LA Fitness anchored Shopping Center
• Excellent visibility from I-10 Katy Freeway
• Strategic Location – 220.000 Vehicles per Day
• Right over the I-10 Katy Freeway exit
• Lease until September 2024 with three renewal options
• Under market rent, that generates upside opportunity.
• 80% of the Income comes from Strong National Tenants.
• High Average Household Income and Strong Daytime Employment
• Tango Holding Manages the Center Since 2015
LOCATION
Strategically located adjacent to the I-10 Katy Freeway (220,000 vehicles per day) near the on/off ramp of the Freeway.
Excellent Street Visibility – Westgate Market benefits from excellent street visibility along I-10 Frontage Road.
Retailers in the area include Walmart, Target, Lowe`s, Home Depot, Kohl`s, At Home, HEB.
Houston is ranked as the #1 metro for economic growth potential and is the 4th largest and one of the most diverse cities in the United States.
TENANTS
The shopping center is anchored by a freestanding 45,000 sf LA Fitness, includes three pad buildings and an Applebee`s ground lease pad.
80% of the income is derived from strong national/credit tenants.
- Westgate Market is separately parcelized allowing an investor the ability to immediately sell off a pad.
Approximately $114,000 average household income and 81.000 day-time employees within a 5-mile radius of the property.
The shopping center is for sale in its entirety, although offering the possibility of acquiring only the in-line premises or the LA Fitness.
Tango Holding manages Westgate Market since 2015, providing the buyer with reliable information about the property.
