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WESTGATE MARKET

Shopping Center - Katy, Houston

PRICE

NOI

CAP RATE

CAP RATE

Net Operating Income

Avg. Years 1-10

$ 27,918,911

$ 1,884,526

6.75%

7.21%

INVESTMENT HIGHLIGHTS

•  Shopping Center in Katy, Houston 
•  LA Fitness with 15 Year Lease
•  Strategic Location - 220,000 vehicles per day
•  80% of of the Income from Strong National Tenants 
•  High Average Household Income 
•  Total or Partial Acquisition Opportunity
•  Houston, fourth-most populous city in the US
•  Tango Holding Manages the Shopping 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

80,690 SF / 7.496 m2

YEAR BUILT

2004-2005

LAND AREA

8,694 Acres 

PARKING

522 dedicated parking spots. The parking ratio is 6.4 per 1,000 SF of leasable area. 

PROPERTY ADDRESS

19504-19740 Katy Freeway (I-10) & 19950 Restaurant Row. Houston, Texas 77094

NATIONAL TENANTS

LA Fitness, Panera Bread, My Eyelab, Vitamin Shoppe, AAAA, Massage Envy, Avis Budget Car Rental

TRAFFIC COUNTS

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

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