NNN Methodist Physicians Center
8,000 SF | 100% Leased | Retail Building | Cypress, TX 77429 | $4,525,400 ($566/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,525,400
- Property Type
-
Retail
- Square Feet
- 8,000 SF
- Price / Square Foot
- $566
Listing Contacts
Todd Moore
Verified Profile
- Property Info
Property Overview
Colliers is pleased to exclusively offer to qualified investors, the opportunity to purchase Rock Creek Medical Plaza, located at 14044 Spring Cypress Road in Cypress, TX. The ±8,238 SF building situated on ±0.90 acres and currently has 78 months of term remaining with Houston Methodist Primary Care Group.
The site is strategically located on a gateway out-parcel on a hard signalized corner and is shadow anchored by H-E-B. This H-E-B location sees over 1.6 million annual visitors and services the surrounding neighborhoods with average household incomes of over $137,000.
Access OM - https://texas.colliers.com/houston-methodist-confidentiality-agreement-0
The site is strategically located on a gateway out-parcel on a hard signalized corner and is shadow anchored by H-E-B. This H-E-B location sees over 1.6 million annual visitors and services the surrounding neighborhoods with average household incomes of over $137,000.
Access OM - https://texas.colliers.com/houston-methodist-confidentiality-agreement-0
Property Details
- Class
- B
- Year Built
- 2016
- Stories
- 1
- Property Subtype
- Freestanding, Medical
- Lot Size (sq. ft)
- 39,204 SF
Highlights
- Brand New Lease: New 7-year lease with 3% annual increases that commenced January 1, 2023
- Attractive Credit Tenant: Houston Methodist received a “AA” bond rating from the S&P in 2020
- Limited Landlord Responsibilities: Landlord responsibilities limited to Roof & Structure
- Exceptional Demographics: Average Household Incomes in excess of $137,000 in a one-mile radius, and over 200,000 population in a 5-mile radius
- H-E-B Shadow Anchored: Gateway out-parcel to H-E-B with 1.6 million annual visitors
- Hard Signalized Corner: The site is positioned on a hard corner of a lighted intersection. Traffic accessing H-E-B passes directly by the site
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