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Shops at Grand Parkway - Spring, TX 6941 Spring Stuebner Rd 17,600 SF 100% Leased Retail Building Spring, TX 77379 $10,994,176 CAD ($624.67 CAD/SF) 6.25% Cap Rate
EXECUTIVE SUMMARY
Brand-New Six-Tenant Strip | NNN Leases | Fast-Growing Houston Submarket
- Opportunity to acquire the Shops at Grand Parkway, a brand new six-tenant strip in Spring Texas (Houston MSA)
- The 100% occupied building features tenants operating under NNN leases, limiting expense obligations for a future investor
Strong Trade Area Demographics | Six-Figure Incomes
- More than 225,000 residents and 50,000 employees support the 5-mile trade area
- $148,808 average household income within a 5-mile radius
Adjacent to New Class-A, 300+ Unit Apartment Complex
- Magnolia at Spring – 2024 Grand Opening
Strategic Location
- Near Beltway 8, I-45 Corridor, Bush IAH Airport, The Woodlands & Kingwood master-planned communities
- High Traffic Counts - Grand Parkway/99 (65,550 VPD), Spring Stuebner (19,518 VPD), and Kuykenahl Rd (27,800 VPD)
Strong Retail Synergy
- Adjacent to Grand Parkway Marketplace, a 349K square foot regional shopping center on 75 acres, anchored by Target, Walmart, Academy, Hobby Lobby, LA Fitness, TJ Maxx, PetSmart, Burlington, Michaels, Spec’s and many more
Proximity to New Amazon Distribution Hub
- Located 1 mile west of Amazon DHX4, a 219,000 SF last-mile distribution facility completed in September 2021 with more than 200 employees
Proximity to Local High Schools
- 1 mile south of Klein Oak High School (~3,664 students)
- 4 miles west of Klein Collins High School (~3,294 students)
New 2023 Construction
- Newly constructed building in 2023, with existing building warranties
Located 30 Miles North of Downtown Houston
- Spring is a submarket of Houston, the 4th most populous city in the US, with a population exceeding 2.3 million
NNN Leases
- Ease of management well suited for an out of town/state Investor
Diversified Tenant Mix
- Dynamic mix of Retail and Service based tenants with high level of E-Commerce Resistance
Flexible Space | Below-Market Rents
- The 3 suites range in size from 1,150 – 6,750 SF – highly attractive and adaptable to a variety of tenants/uses
- Average rent of just $28 PSF
- Opportunity to acquire the Shops at Grand Parkway, a brand new six-tenant strip in Spring Texas (Houston MSA)
- The 100% occupied building features tenants operating under NNN leases, limiting expense obligations for a future investor
Strong Trade Area Demographics | Six-Figure Incomes
- More than 225,000 residents and 50,000 employees support the 5-mile trade area
- $148,808 average household income within a 5-mile radius
Adjacent to New Class-A, 300+ Unit Apartment Complex
- Magnolia at Spring – 2024 Grand Opening
Strategic Location
- Near Beltway 8, I-45 Corridor, Bush IAH Airport, The Woodlands & Kingwood master-planned communities
- High Traffic Counts - Grand Parkway/99 (65,550 VPD), Spring Stuebner (19,518 VPD), and Kuykenahl Rd (27,800 VPD)
Strong Retail Synergy
- Adjacent to Grand Parkway Marketplace, a 349K square foot regional shopping center on 75 acres, anchored by Target, Walmart, Academy, Hobby Lobby, LA Fitness, TJ Maxx, PetSmart, Burlington, Michaels, Spec’s and many more
Proximity to New Amazon Distribution Hub
- Located 1 mile west of Amazon DHX4, a 219,000 SF last-mile distribution facility completed in September 2021 with more than 200 employees
Proximity to Local High Schools
- 1 mile south of Klein Oak High School (~3,664 students)
- 4 miles west of Klein Collins High School (~3,294 students)
New 2023 Construction
- Newly constructed building in 2023, with existing building warranties
Located 30 Miles North of Downtown Houston
- Spring is a submarket of Houston, the 4th most populous city in the US, with a population exceeding 2.3 million
NNN Leases
- Ease of management well suited for an out of town/state Investor
Diversified Tenant Mix
- Dynamic mix of Retail and Service based tenants with high level of E-Commerce Resistance
Flexible Space | Below-Market Rents
- The 3 suites range in size from 1,150 – 6,750 SF – highly attractive and adaptable to a variety of tenants/uses
- Average rent of just $28 PSF
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
17,600 SF
Building Class
B
Year Built
2023
Price
$10,994,176 CAD
Price Per SF
$624.67 CAD
Cap Rate
6.25%
NOI
$687,031 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
2.14 AC
Parking
89 Spaces (5.06 Spaces per 1,000 SF Leased)
Frontage
228’ on Spring Stuebner Road
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Agape Cafe
- Retailer
- 1,200 SF
- -
- Jun 2030
- G's Smoke Shop
- Retailer
- 1,150 SF
- -
- Mar 2029
-
- Retailer
- 3,500 SF
- -
- Dec 2029
Founded in 1963, Leslie's is the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry. They serve the aftermarket needs of residential and professional consumers with an extensive and largely exclusive assortment of essential pool and spa care products. They operate an integrated ecosystem of physical locations, and a robust digital platform, enabling consumers to engage with Leslie’s whenever, wherever, and however they prefer to shop.
- The Dog Stop
- Retailer
- 6,750 SF
- -
- Jul 2034
- True Image Orthodontics
- Retailer
- 3,500 SF
- -
- Apr 2034
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Agape Cafe | Retailer | 1,200 SF | - | Jun 2030 | ||
| G's Smoke Shop | Retailer | 1,150 SF | - | Mar 2029 | ||
|
|
Retailer | 3,500 SF | - | Dec 2029 | ||
| The Dog Stop | Retailer | 6,750 SF | - | Jul 2034 | ||
| True Image Orthodontics | Retailer | 3,500 SF | - | Apr 2034 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1409610010006 | Improvements Assessment | $4,592,899 CAD |
| Land Assessment | $3,289,234 CAD | Total Assessment | $7,882,133 CAD |
PROPERTY TAXES
Parcel Number
1409610010006
Land Assessment
$3,289,234 CAD
Improvements Assessment
$4,592,899 CAD
Total Assessment
$7,882,133 CAD
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Shops at Grand Parkway - Spring, TX | 6941 Spring Stuebner Rd
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