Property tours are available by appointment ONLY. Please contact Sam Affanhe to schedule at sama@retailsolutions.us or 210-264-9262. Investment Highlights: ±11,200 SF fully occupied neighborhood retail center with in place NOI ±$90,000 Value add redevelopment opportunity in popular Oak Forest neighborhood Adjacent land planned for additional parking Strong local tenants with value add from near and long term rollover Favorable demographics with over 140,000 people within a 3 mile radius and average household incomes of over $61,000 Investment Overview: Oak Forest Retail (the “Property”), is a neighborhood center located at 5601 Broom St and 5602-5608 Pinemont Dr in Houston, TX. The offering represents the opportunity to acquire a strong-performing shopping center with several local tenants and strong in-place income. The Property is two-buildings consisting of a retail strip center and a free-standing industrial-style building leased to and operating as an auto mechanic shop. Oak Forest Retail encompasses three parcels totaling ±0.68 AC and is 100% occupied with 5 tenants. The tenant in unit 5608 has signed a lease and the build out is underway with occupancy to begin later this year. Oak Forest Retail is located in the popular Oak Forest neighborhood of northwest Houston’s dense residential population. Originally built in 1970 and 1977, the Property is well positioned adjacent to a major retail hub with area retailers including Foodtown, 24 Hour Fitness, Walgreen's, CVS, Dollar General and Family Dollar. The Property benefits from solid traffic counts of ±16,000 VPD. The demographics are also very favorable to the Property’s tenancy with over 140,000 people within a 3 mile radius and average household incomes of over $61,000 Houston leverages their locational advantage of being geographically centered between the East and West coasts with an exceptional airline system, deep sea port and Intracoastal Waterway, multiple major railroads and intermodal facilities, and a world-class highway system. Houston is the fourth largest and the most diverse city in the US and a leader in numerous industries including oil and gas, manufacturing, healthcare services, and engineering. The region benefits from a skilled workforce, world-class infrastructure and transportation system, and a pro-business environment that stimulates rather than stifles business growth. Accoring Current Houston market trends data indicates an increase of +0.8% in the median asking price per sq ft for retail commercial properties compared to the prior 3 months, with an increase of +7.7% compared to last year's prices.
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