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8901-8979 Richmond Ave
Houston, TX 77063
Richmond @ Fondren Center · Commerce de détail Propriété À vendre
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Faits saillants de l'investissement
- 30-Year Occupancy by Anchor Tenant
- 100% Occupied by 11 Tenants + 1 Food Truck
- Upside via Corner Pad Site
- Corner Location with ±60,302 VPD
- Weighted Average Occupancy of over 10 Years
- Huge Population Base & Affluent Customers - 544,000+ people & an Avg. HHI over $120,000 within 5 miles
Résumé de l'annonce
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in Richmond & Fondren Plaza located at 8901-8979 Richmond Ave., Houston, TX 77063. The plaza is currently 100% occupied.
The center is over 40,000 SF and includes a diverse mix of tenants — 11 tenants in the main retail center, 2 outparcels and 1 Food Truck. The tenants have an average weighted occupancy of over 10 years, with the anchor tenant—Metropolis & Extravaganza (M&E)—having a tenancy of over 30 years. M&E just signed a new 5-Year extension with a 30% rent increase to market rents of $24 PSF starting 10/1/2026 with 2% annual increases thereafter. This rental increase along with a few others will offer a substaintial upside to investors, with rents projected to increase over 11% from Year 1 to Year 2.
The pad site directly on the corner of Fondren Road and Richmond Avenue offers additional upside, and may be included or excluded from the sale. It is approximately half an acre and includes a building of approximately 4,000 SF. It could be occupied by an owner-user or leased for additional income, estimated at $120,000+ per year.
The center is over 40,000 SF and includes a diverse mix of tenants — 11 tenants in the main retail center, 2 outparcels and 1 Food Truck. The tenants have an average weighted occupancy of over 10 years, with the anchor tenant—Metropolis & Extravaganza (M&E)—having a tenancy of over 30 years. M&E just signed a new 5-Year extension with a 30% rent increase to market rents of $24 PSF starting 10/1/2026 with 2% annual increases thereafter. This rental increase along with a few others will offer a substaintial upside to investors, with rents projected to increase over 11% from Year 1 to Year 2.
The pad site directly on the corner of Fondren Road and Richmond Avenue offers additional upside, and may be included or excluded from the sale. It is approximately half an acre and includes a building of approximately 4,000 SF. It could be occupied by an owner-user or leased for additional income, estimated at $120,000+ per year.
Faits sur la propriété
Type de vente
Investissement
Type de propriété
Commerce de détail
Sous-type de propriété
Taille du bâtiment
41 060 pi²
Classe d’immeuble
C
Année de construction
1979
Pourcentage loué
100%
Location
Multiples
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,20
Taille du lot
4,70 AC
Zonage
N/AV, Houston - Commercial
Stationnement
150 places (3,65 places par 1 000 pi² loué)
Façade
558’ sur Richmond Ave
Impôts fonciers
| Numéro de lot | 0974010000010 | Évaluation des bâtiments | 3 211 698 $ CAD |
| Évaluation du terrain | 11 902 990 $ CAD | Évaluation totale | 15 114 688 $ CAD |
Impôts fonciers
Numéro de lot
0974010000010
Évaluation du terrain
11 902 990 $ CAD
Évaluation des bâtiments
3 211 698 $ CAD
Évaluation totale
15 114 688 $ CAD
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