3000-3010 Garth Rd - Storefront FOR SALE


Baytown, TX 77521
$1,299,000 USD
713-459-1333
3000-3010 Garth Rd, Baytown, TX for Sale
$1,299,000 USD
Storefront - FOR SALE
1/4
null | 7.71% Cap Rate

3000-3010 Garth Rd
Baytown, TX 77521


HIGHLIGHTS

  • Multiple Access Points
  • Hard Corner
  • NNN Tenants: 100 Percent Reimbursable Expenses
  • Option to Assume Loan at 5.875 Interest Rate
  • Easy Access to North Highway 146

OVERVIEW

Marcus & Millichap is pleased to exclusively list for sale Garth Road Shopping Center located at 3000 Garth Road in Baytown, Texas. This 4,800 square foot retail center is located on approximately 0.57 acres on the hard corner of Garth Road and Harold Lane. The subject property is 100 percent occupied, accommodating four tenants. Twenty-five percent of the center is leased by Ace Cash Express. All tenant leases are triple-net, protecting an investor from possible increases in future expenses. An investor has the option to assume a pre-existing loan at an interest rate of 5.875 percent. Said interest rate will be reset after approximately four years. There is no pre-payment penalty if the rate adjustment is unfavorable and not accepted by the borrower. The assumable loan interest rate is well below the current market rate, increasing the profitability of the property. Creekwood/Glen Arbor neighborhood is located behind Garth Road Shopping Center. Additionally, two large medical offices are located across the street. North Highway 146 is easily accessible, being 0.2 miles away from the property. Major employers in the area are the ExxonMobil Refinery, Chevron Phillips Chemical Company, Bayer Material Science Company, San Jacinto Methodist Hospital, Lee College, a Walmart Distribution Center, and a Home Depot Distribution Center. Baytown boasts a growing economy and significance as a regional trade area. Its industrial base includes many internationally known companies in oil refining, rubber, chemical and plastics. Employers include Exxon/Mobil Baytown Refinery, ExxonMobil Chemical, Exxon/Mobil Baytown, Olefins, Chevron Phillips Chemical, Bayer Baytown Industrial Park, Koppel Steel, Jindal Steel, and Exxon/Mobil Basic Chemicals.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$266 USD /SF

CAP RATE

7.71%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garth Road Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Fast Food, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

51

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

-

APN/PARCEL ID

0451440020017

ASK ABOUT THIS PROPERTY

Gus LagosMarcus & MillichapMore Info
713-459-1333

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Gus LagosMarcus & MillichapMore Info
713-459-1333

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.