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Heights Forum 1324 N Shepherd Dr 23,895 SF 92% Leased Retail Building Houston, TX 77008 $20,240,841 CAD ($847.07 CAD/SF) 6.44% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Heights Forum, 1324 N Shepherd Drive, is a 23,895-square-foot mixed-use property built in 2021 on 1.13 acres in the Houston Heights area.
  • Built-in annual base rent increases guarantee rising revenues, and the below-market rents present significant future earnings growth potential.
  • Invest in booming Houston Heights as the number of households within a 2-mile radius of 1324 N Shepherd Drive increased by 17.2% from 2020 to 2024.
  • 92% occupied by a recession-proof tenant mix that includes healthcare providers, professional services, wellness centers, and food concepts.
  • Constructed to superior standards, winning Heights Forum the Red News Mixed-Use Project of the Year Award in 2022.
  • Ideal 1031 Exchange opportunity. Contact Brent Fredricks at 713-572-3500 to learn more.

EXECUTIVE SUMMARY

Heights Forum is a premier Class A mixed-use asset located at 1324 N Shepherd Drive in the heart of the Houston Heights area. This 23,895-square-foot trophy property, built in 2021, offers investors an exceptional opportunity to own a high-performing, award-winning asset in one of Houston’s most desirable and fastest-growing neighborhoods.
The two-story property is 92% leased to a diverse and resilient tenant mix, including Top Care ER, Milk & Sugar Creamery, Swish Dental, Yoga Six, Chi'Lantro BBQ, and Heatwave Fitness. Built-in annual base rent increases ensure rising revenue streams, while current below-market rents provide significant future income growth potential. The property was honored as the 2022 Red News Awards Mixed-Use Project of the Year, reinforcing its standing as a best-in-class investment.
Situated in the dynamic Houston Heights area, Heights Forum benefits from high foot traffic and exceptional accessibility. This vibrant neighborhood blends historic charm with modern development, attracting a steady influx of residents and businesses. Land values in Houston Heights have surged 64% over the past decade, underscoring the area’s strong economic trajectory and real estate demand. Heights Forum is perfectly positioned to capitalize on the neighborhood’s continued growth and long-term value appreciation. Inquire now.

DATA ROOM Click Here to Access

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
23,895 SF
Building Class
B
Year Built
2021
Price
$20,240,841 CAD
Price Per SF
$847.07 CAD
Cap Rate
6.44%
NOI
$1,303,549 CAD
Percent Leased
92%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.49
Lot Size
1.13 AC
Frontage
140’ on N Shepherd Dr

AMENITIES

  • Pylon Sign
  • Signage

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Back Nine Golf
  • Arts, Entertainment, and Recreation
  • 99,999 SF
  • -
  • -
  • -
  • Accommodation and Food Services
  • 99,999 SF
  • -
  • -
  • -

Based in Austin, Texas, Chi’Lantro is an award-winning restaurant, mobile food truck and full-service catering company with a passion for creating diverse, Korean BBQ-inspired cuisine.The name “Chi’Lantro” is a combination of the words “kimchi” and “cilantro.” With the vision to inspire the way people eat and think about Korean BBQ, Chi’Lantro’s founder, Jae Kim, started the company as a food truck operation in 2010 with only one employee. The company is known for its signature dish, The Original Kimchi Fries™-- hot french fries with homemade caramelized kimchi, Korean BBQ, topped with fresh cilantro and onion, sesame seeds and drizzled with Magic Sauce. Chi’Lantro has expanded to six brick and mortars across Austin, a downtown trailer and a full-service catering department.

  • Accommodation and Food Services
  • 99,999 SF
  • -
  • Lorem Ipsum
  • -

at milk + sugar, you won't find the classic flavors you've grown up with. they strive to give you a different and more modern approach to everyone's favorite dessert. milk + sugar specializes in fun "mix-ins" that they make in-house and fold into the ice cream as they churn it. think brownie chunks, pieces of cake, seasonal flavors and you've got the idea. come check them out, but PLEASE do not ask for vanilla. as they like to say, "life is too short for plain vanilla."

  • Health Care and Social Assistance
  • 99,999 SF
  • -
  • -
  • Jan 0000

Welcome to Swish Dental, where seeing the dentist is something you actually look forward to. They are dedicated to helping you achieve your healthiest smile, delivering compassionate dental care and an extraordinary dental experience. Their goal as family dentists is to establish lifelong connections with their patients. They strive to create healthy smiles and change the way you think about seeing the dentist. At their dental practice, they are dedicated to preventing, diagnosing, and treating oral health issues. They prioritize your comfort, utilize the newest dental technology, and provide transparent patient care. At Swish, you'll receive comprehensive and non-judgmental dental services that are both exceptional and affordable. Get the smile you've always dreamed of. Their industry-leading treatment options, comprehensive insurance coverage, and flexible financing choices make it easier than ever to attain your healthiest and most confident smile.

  • Health Care and Social Assistance
  • 99,999 SF
  • -
  • -
  • -

Welcome to Top Care Emergency Room, where every moment counts, and your well-being is their top priority. With more than 20 years of experience, they have been at the forefront of providing exceptional emergency medical care to the community of Houston, Texas. At Top Care ER, they understand the critical importance of timely and expert interventions during medical emergencies, and their dedicated team is committed to ensuring that you receive the prompt, comprehensive, and compassionate care you deserve. Explore their commitment to excellence and discover why Top Care ER stands as a beacon of trust and reliability in emergency healthcare in Texas.

  • Arts, Entertainment, and Recreation
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Each studio is a locally owned and operated franchise location. They offer 6 different class types from hot and powerful to slow and mindful. They also offer beginner classes and sculpt classes. Their teachers have been trained in the YogaSix methodology to provide a consistent but creative experience for each class type every time. They teach in a way that is easy for everyone to follow and understand. Their expert staff will help you find the right class to help you achieve your goals. YogaSix is a part of Xponential Fitness, a leading global franchisor of health and wellness brands across a variety of verticals, including pilates, barre, cycling, dance, yoga, boxing, strength training, stretching, and metabolic health.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Back Nine Golf Arts, Entertainment, and Recreation 99,999 SF - - -
Accommodation and Food Services 99,999 SF - - -
Accommodation and Food Services 99,999 SF - Lorem Ipsum -
Health Care and Social Assistance 99,999 SF - - Jan 0000
Health Care and Social Assistance 99,999 SF - - -
Arts, Entertainment, and Recreation 99,999 SF - Lorem Ipsum Jan 0000
Walk Score®
Very Walkable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

NEARBY MAJOR RETAILERS

La Michoacana Meat Market
Regions Bank
Starbucks
Kroger
CycleBar
Planet Fitness
Chase Bank
Taquerias Arandas
Chili's Grill & Bar
Flower Child

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0391290000034
Land Assessment
$6,908,362 CAD
Improvements Assessment
$7,455,516 CAD
Total Assessment
$14,363,878 CAD
  • Listing ID: 33367073

  • Date on Market: 2024-10-01

  • Last Updated:

  • Address: 1324 N Shepherd Dr, Houston, TX 77008

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