The Shops at Humble

Price: $5,879,000
Sq. Ft.: 28,820
Cap Rate: 7.50%
Built: 1980

Marcus & Millichap is pleased to present the opportunity to acquire a 28,820-square foot, multi-tenant shopping center located in a prime retail corridor in the northern Houston suburb of Humble, Texas. Currently 95 percent leased, The Shops at Humble is anchored by JoAnn Fabric and Craft Stores, which accounts for 51 percent of the gross leasable area. JoAnn’s recently exercised a five-year lease renewal, and the store reports strong sales, having a 5.75 percent rent-to-sales ratio. Other tenants include Royal Dental, Happy Cash, Hanna Nails, D Dominican Beauty Salon, AP Tax and Multiservice, Massage, Civil Vapes, and The Fire Box. All tenants have triple-net leases. Situated on 2.1 acres, the building was originally constructed in 1980.  The seller reports significant recent improvements including a new roof and new building façade.

The subject property is well-positioned in a dense retail trade area off Interstate 69 at the intersection with Farm to Market 1960 Bypass Road. Traffic counts in front of the property are approximately 42,150 vehicles per day. Deerbrook Mall is located directly across the road, featuring more than 130 stores and anchored by Dillard’s, Macy’s, and Dick’s Sporting Goods. Additional national and regional tenants in close proximity include Sam’s Club, Ross Dress for Less, At Home, Academy Sports and Outdoors, Conn’s HomePlus, Boot Barn, Petco, DSW, Michaels, Five Below, Movie Tavern, Kroger, Walmart Supercenter, Big Lots, Chuck E. Cheese’s, Harbor Freight Tools, The Home Depot, Best Buy, Office Depot, Hobby Lobby, Target, Kohl’s, and numerous others.

  • 28,820-Square Foot, Multi-Tenant Retail Center
  • 95% Leased | All Leases are Triple-Net
  • Anchored by JoAnn Fabrics | Tenant Recently Exercised a Five-Year Renewal | Store Reports Strong Sales | Rent-to-Sales Ratio is 5.75% | $173 per Square Foot in Sales
  • Complementary Mix of Mostly Internet-Resistant Tenants
  • Current Rents are Below Market
  • Recent Property Improvements, Reported by the Seller, Include a New Roof, and New Façade
  • Located in a Dense Retail Trade Area in the Southwestern Quadrant of the Interstate 69/Farm to Market 1960 Bypass Road Intersection
  • Traffic Counts in Front of the Property are More than 42,150 Vehicles per Day
  • Numerous National Retailers in the Immediate Area Including Sam’s Club, Walmart Supercenter, Kroger, Conn’s HomePlus, DSW Shoes, Burlington Coat Factory, Academy Sports and Outdoors, and Many Others
  • Across from Deerbrook Mall, a Regional Shopping Destination Featuring more than 130 Shops | Anchored by Dillard’s, Macy’s, and Dick’s Sporting Goods
  • One Mile from Memorial Hermann Northeast Hospital | 255-Bed Facility Providing World-Class Care | Serves as the Official Healthcare Provider to George Bush International Airport Passengers
  • George Bush International Airport (IAH) is less than Five Miles from the Property | Served More than 43 Million Passengers in 2018 | 15th Busiest Airport in North America Based on Flight Operations | Supports 170,000 Local Jobs and Contributes $22 Billion to the Local Economy