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PANERA BREAD - MY EYELAB

Shopping Center - Katy, Houston

PRICE

NOI

CAP RATE

Net Operating Income

$ 5,058.335

$ 278,208

5.5%

INVESTMENT HIGHLIGHTS

•  Independent parcel in Westgate Market Shopping Center, in Katy, Houston
•  Strategic Location – 220.000 Vehicles per Day
•  Right over the I-10 Katy Freeway exit, with excellent visibility
•  Panera Bread with Drive Thru, a chain of bakery-café fast casual restaurants with more than 2,000 locations in the United States
•  Panera Bread has lease until March 2026, and renewal option
•  My Eyelab, one of the nation´s fastest growing full-service teleconsulting and retail optical centers in the United States
•  My Eyelab has lease until September 2028, and renewal options
•  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. 

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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.

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PROPERTY 

OVERVIEW

RENTABLE AREA

8.860 SF / 823 m2

YEAR BUILT

2004-2005

LAND AREA

0.8740 Acres - 3.537 m2

PARKING

56 dedicated parking spots. The parking ratio is 6.3 per 1,000 SF of leasable area. 

PROPERTY ADDRESS

19740 Katy Freeway. Houston, Texas 77094

NATIONAL TENANTS

Panera Bread with Drive Thru and My Eyelab

TRAFFIC COUNTS

I-10 Katy Freeway: 220,000 vehicles per day | North Fry Drive: 52,500 vehicles per day

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