13660-13670 Westheimer Rd 15,824 SF 100% Leased Retail Building Houston, TX 77077 $4,731,780 CAD ($299.03 CAD/SF) 8.31% Cap Rate

Partners is pleased to present AW Plaza, a +/-15,570 square foot retail plaza on a +/-1.08 acre site at the hard corner of busy Westheimer Road & Panagard Drive, between Highway 6 and Eldridge Parkway. This exciting retail opportunity presents investors with a potential value add opportunity by simply bringing all tenants to the current market rate established by other tenants in the center and surrounding retail. The center abuts a wide variety of rooftops, ranging from $200k up to $2.5M homes within less than a mile. It is within a close proximity of many major retailers, including Target, Petsmart, Floor & Décor, West Oaks Mall and more.
Currently the property is 100% occupied with 5 retail tenants and additional revenue generated with the on-site billboard. 4 out of 5 retail tenants have lease expirations more than 2 years out, while the remaining tenant is on month to month (although willing to sign an extension) – allowing for flexibility for a new owner. This retail project provides an investor with a day one 8.3% CAP rae, with most leases containing annual rental escalations to further increase NOI. Adjustments to current tenancy or a property improvement plan could easily push future returns higher with modest adjustments.