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WESTGATE MARKET

Shopping Center - Katy, Houston

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. 

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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

41.321 SF / 3.839 m2

YEAR BUILT

2004-2005

LAND AREA

4.91 Acres - 19.870 m2

PARKING

386 dedicated parking spots. The parking ratio is 9.3 per 1,000 SF of leasable area. 

PROPERTY ADDRESS

19740 Katy Freeway. Houston, Texas 77094

NATIONAL TENANTS

Panera Bread, My Eyelab, Vitamin Shoppe, Massage Envy, The Joint, Dapper & Dashing,
Avis Rent a Car, AAA Texas, Applebee`s, among others.

TRAFFIC COUNTS

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

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