PRICE
NOI
CAP RATE
Net Operating Income
$ 18,713,024
$ 1,169,564
6.25%
INVESTMENT HIGHLIGHTS
• Westgate Market Shopping Center, in Katy, Houston
• 41,321 SF of retail space, divided in four buildings
• Strategic Location – 220.000 Vehicles per Day
• Right over the I-10 Katy Freeway exit, with excellent visibility
• Principal Tenants are: Panera Bread with Drive Thru, My Eyelab, Applebee's (Ground Lease), The Joint, Avis Rent a Car, AAA Texas, Thai Cottage, Dapper & Dashing, Thai Cottage, Massage Envy, Vitamin Shoppe, among others
• 80% of the Income comes from Strong National Tenants
• Anchor Tenant: LA Fitness 45,000 SF center (not a part of this offer)
• High Average Household Income and Strong Daytime Employment
• Houston is a city in continuous growth
• 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.