Tanglewood Square
$1,800,000
3602 Houston Hwy, Victoria, TX 77901
Cap Rate
7.08%/10.46%
Square Feet
11940
Year Built/Renovated
1983
INVESTMENT HIGHLIGHTS
• Value-Add Potential Through Leasing Vacancy and Raising Below Market Rents or Converting Gross Leases to Triple-Net Leases
• Priced Below Replacement Cost: $150.75/SF
• Located at Signalized, Hard Corner of Two Major Thoroughfares
• Prime Location Near Walmart Supercenter, University of Houston-Victoria, and Citizens Medical Center
• Proximity to Nearby Retailers, Including Starbucks, Whataburger, and Dollar Tree
• Long Term Lease: China Inn Restaurant, who occupies the elbow space, originally commenced in 1994.
• Increased Foot Traffic From Two Fuel Pumps
PROPERTY DESCRIPTION
Marcus & Millichap is pleased to exclusively offer for sale Tanglewood Square, a 11,940-square-foot shopping center located at the signalized, hard corner of Houston Highway (US-59T) and Sam Houston Drive.
Tanglewood Square is 93 percent occupied. An investor could add value by leasing the vacant unit and raising below market rents or converting gross leases to triple-net leases.
The property is in a strategic location near a newly constructed Walmart Supercenter, University of Houston-Victoria, and Citizens Medical Center. Nearby retailers include Starbucks, Whataburger, and Dollar Tree.
Scott Jones
ASSOCIATE INVESTMENTS
713-452-4359
Gus N. Lagos
SENIOR MANAGING DIRECTOR INVESTMENTS
713-452-4257
Alex Wolansky, CCIM
MANAGING DIRECTOR INVESTMENTS
