Marcus & Millichap is pleased to present the opportunity to acquire a 75,183-square-foot, multi-tenant retail center located in Katy, Texas. One Mason Plaza is currently 90 percent occupied, providing upside potential in leasing the remaining vacancies. All leases are triple-net, and many leases have scheduled rent escalations during their remaining terms. Tenants are a complementary mix of internet-resistant and service-oriented businesses, including Proactive Lifestyle Fitness, Alrawshe Mediterranean Grill, J&D Caribbean Cuisine, Taqueria La Real, Colombia House Bakery & Cafe, Kickboxing, Scents by Jennifer, Massage Zone, Savage Grill, Tracy Nails & Spa, Koldprezz, Detail Garage, Bombay Palace Indian Restaurant, The Cellar Door Winery, Lone Star Floors, Alsafa Imports, Regional Finance, Happy Tails Dog Grooming, Einstein’s Pub, and others. The center is comprised of three buildings that were constructed in 1983 and are situated on a large 5.09-acre parcel with ample concrete parking. A large double-sided pylon sign provides additional exposure to the center.
- 75,183-Square-Foot, Multi-Tenant Neighborhood Retail Center Located in the Highly Desirable Houston Suburb of Katy, Texas
- 90% Occupied | All Leases are Triple-Net | Upside Potential in Leasing Vacancies | Pro Forma Cap Rate is 7.40%
- Current Average Rents are Below Market
- Tenants are a Complementary Mix of Internet-Resistant, Service-Oriented Businesses
- Comprised of Three Multi-Tenant Buildings Situated on a Large 5.09-Acre Parcel with Ample Parking | Double-Sided Pylon Sign at the Entrance Enhances Visibility
- Located in a Dense Retail Trade Area Near the Signalized Intersection of Mason Road and Cimarron Parkway | Easily Accessible from Multiple Ingress and Egress Points
- High Traffic Counts | Approximately 43,469 Vehicles per Day on Mason Road | One of the City’s Major North-South Thoroughfares
- Strong Demographics | Population is Approximately 287,884 Residents within Five Miles | One-Mile Average Household Income is $88,366 | Three-Mile Average Household Income is $118,338 | Five-Mile Average Household Income is $121,660
- Katy is One of the Fastest-Growing and Most-Desirable Cities within the Houston MSA | Located 30 Miles from Downtown Houston
