|
| Address: |
6057-6081 Scott Street, Houston, Texas 77021 |
| Country: |
Harris |
| Building Area/Units: |
9,912 SF |
| Lot Size: |
0.93 AC |
| Price: |
$2,150,000 |
| Price/SF: |
$216.91 |
| Cap Rate: |
8% |
| Occupancy Rate: |
100% |
| Year Built: |
2003 |
| Property Description: |
| 2003 built 9,912 SF strip center near the SE cormer of O.S.T. and Scott Street. It offers a mixture of national and regional credit tenants with Payless Shoe Source and Summit Dental being it's two major tenants. All leases are NNN with 100% expenses pass thru. In addition, landlord is allowed to assert 10-15% of CAM expenses as supervision fees (except Payless Shoe Source). Excellent investment property with steady income and upside potential |
| Location Description: |
| Subject property is located near the southeast corner of O.S.T. and Scott Street east of 288. Medical Center is only minutes away. Texas Department of Human Resource and HEB grocery store are located across street from the subject property. Major retailers, Walgreen, CVS, Advance Auto Parts, McDonald' s, Taco Bell, KFC, Jack in the Box, Bank of America, and WaMu are within walking distance. The area is going through a revamp with many new commercial and residential developments. |
| Financial Summary
|
| Effective Gross Income: |
$231,013.80 |
| Maintenance: |
$22,703.92 |
| Taxes: |
$36,456.94 |
| Insurance: |
$1,740 |
| Total Expenses: |
$60,900.86 |
| Net operating Income: |
$170,112.94 |
| Major Tenants |
| Payless Shoe Source |
2,800SF |
| Summit Dental |
3,000SF |
| Check n' Go |
1,312SF |
| Galaxy Insurance |
1,400SF |
| Algierz LLC |
1,400SF |
| Debt&Financial Information |
|
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