3244 Meridiana Pky - Storefront FOR SALE


Rosharon, TX 77583
$8,136,000 USD
346-355-1161
3244 Meridiana Pky, Rosharon, TX for Sale
$8,136,000 USD
Storefront - FOR SALE
1/27
null | 7% Cap Rate

3244 Meridiana Pky
Rosharon, TX 77583


HIGHLIGHTS

  • Sterling Lakes Retail Center, 3244 Meridiana Parkway, is a shopping hub fully occupied by tenants on strong lease terms with annual rent increases.
  • Built in 2020 and spanning 17,052 square feet on a 2.39-acre / 104,065-square-foot lot with 106 parking spaces and multiple access points.
  • Leased to synergistic tenants, including a boutique fitness club, dental practice, donut shop, pediatric center, dry cleaners, and three food options.
  • Positioned at a burgeoning intersection that sees about 49,000 cars daily from US 288 with a roadway extension poised to increase traffic.
  • Invest in a booming area as the population within a 3-mile radius grew by 58% from 2020 to 2024 and is projected to rise another 19% by 2029.

OVERVIEW

Acquire a piece of valuable real estate in a booming town south of Houston and discover the rising market factors priming this locale for success with 3244 Meridiana Parkway. Sterling Lakes Retail Center is a premier asset with positive cash flow and is positioned to have long-term success in this abounding area. Built in 2020, the shopping center asserts a stately presence with refined brick architecture and ivory trim. It is fully leased to eight service, retail, restaurant, fitness, and medical tenants with renewal options and a majority on 2% annual rent increases. Sterling Lakes Retail Center is also shadow-anchored by CVS, which is one of the many advantages this brimming location provides. Situated at the southwest corner of Highway 288 and Meridiana Parkway (CR 56), Sterling Lakes Retail Center is one of the most visible and accessible properties in the area. Karsten Boulevard, the road intersecting with Meridiana Parkway just to the west, has a planned extension to connect with CR 57. This extension will snake through a litany of developments, such as several retailers across Meridiana Parkway, the 2,862-lot Sterling Lakes community, a Crystal Lagoons project, and a proposed mixed-use development. An explosion of migration here precipitated these developments, and new residents tend to be affluent as the average annual household income within a 3-mile radius is $113,708. These projects and key consumer pools have poised the area for a rise to prominence and appreciation of property values. Get in now by acquiring Sterling Lakes Retail Center today.

FOR SALE DETAILS

PRICE

$8,136,000 USD

PRICE/SF

$477 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sterling Lakes Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.39 AC

LAND SF

104,065 SF

ZONING

-

APN/PARCEL ID

5550-1000-004

ASK ABOUT THIS PROPERTY

Joshua JacobsThe Blue Ox GroupMore Info
346-355-1161

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Joshua JacobsThe Blue Ox GroupMore Info
346-355-1161

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