Northwood Village

Price: $2,928,000
Sq. Ft.: 31,245
Cap Rate: 7.04%
Built: 1981

Marcus & Millichap is pleased to present the opportunity to acquire a 31,245-square foot, multi-tenant retail center located in a Houston, Texas.  Northwood Village is currently 71 percent occupied, providing upside potential in leasing the vacant space.  All current leases are triple-net, and the tenant base is a complementary mix of service-oriented businesses. Tenants include America’s Choice Childcare, Twin’s Beauty Supply, Stop N Joy Convenience Store, New China Garden Restaurant, New Life in Christ Ministries, Pipe City, Game Room, The Barber Lounge, New Birth Evangelical Church, and T & M Braiding. Constructed in 1981, the building is situated on a 2.5-acre lot with ample concrete parking.

Northwood Village  located at the signalized, hard corner intersection of Antoine Drive and Bridge Forest Drive.  Traffic counts exceed 18,800 vehicles per day in front of the property. The subject property is located near many national and regional retailers Dollar General, DD’s Discount, Metro by T-Mobile, U-Haul, The UPS Store, Family Dollar, Walgreens, Church’s Chicken, Pizza Hut, and more. The property is in close proximity to multiple schools providing additional traffic to the area. The surrounding area is densely populated with 20,216 residents within one-mile of the property, 132,056 residents within three-miles, and 318,249 residents within five miles.

  • 31,245-Square Foot, Value-Add, Multi-Tenant Retail Center
  • 71% Occupied | All Leases are Triple-Net
  • Tremendous Upside Potential in Leasing Vacant Space | Pro Forma Cap Rate is 11.63%
  • Complementary Mix of Internet Resistant Tenants
  • Constructed in 1981 and Situated on a 2.5-Acre Lot with Concrete Parking | Recent Property Improvements Include Entire Roof Replacement in 2016 and Parking Lot Striping in 2016
  • Easily Accessible from Multiple Ingress and Egress Points
  • Signalized, Hard Corner of Antoine Drive and Bridge Forest Drive
  • Traffic Counts are 18,800 Vehicles per Day in Front of the Property
  • Close Proximity to Multiple Schools Providing Additional Traffic to the Area
  • Densely Populated Area | 20,216 Residents Within One Mile | 132,056 Residents Within Two Miles | 318,249 Residents Within Five Miles
  • Located 13 Miles Northwest of Downtown Houston
  • Houston is the Most Populous City in Texas and the Fourth Most Populous City in the United States