Linh Dao City Centre & Linh Dao Plaza
- Address:
- 9934 & 10142 Jones Road, Houston, TX 77065
- Property Type:
- Multi Tenant
- Price:
- $22,500,000
- Cap Rate:
- 7.26% cap
- Square Feet:
- 120,195 sqft
- Lot Size:
- 8.05 Acres
- Price Per Square Foot:
- $187.20
- Year Built:
- 2017/2020/2021
-
Marketing Package*
Investment Highlights
Investment Highlights
- Multi-Tenant Flex Center Comprised of 15 Buildings Situated on Two Land Parcels for a Combined Gross Leasable Area of 120,195 Square Feet
- Stabilized Asset | All Leases are on Triple-Net Terms
- Diverse Mix of Internet-Resistant and Service-Oriented Local Businesses
- Current Average Rents are Below Market | Approximately 5,280-Square-Feet of Vacancy | Potential Future Upside with Many Leases on Month-to-Month Status
- Newer Construction (2017 – 2021) | 100% of the Buildings have Metal Roofs
- Landlord Reports Strong Occupancy History
- Located on Jones Road | High Traffic Counts Exceeding 48,286 Vehicles per Day
- Dense Retail Trade Area Featuring H-E-B, Family Dollar, Discount Tire, Kroger, ALDI, Planet Fitness, Ross Dress for Less, Dollar Tree, EZPawn, Walmart, Target, The Home Depot, and More in Close Proximity
- Large Daytime Workforce of Approximately 153,220 People within a Five-Mile Radius
- Desirable Demographics | Average Household Income within Five Miles is $98,014 | Population Exceeds 248,957 Residents within Five Miles
- Houston is the Most Populous City in Texas and the Fifth Most Populous City in the United States | One of the Largest International Trading Hubs in the Americas
Investment Overview
PROPERTY DESCRIPTION
The subject property is comprised of 15 multi-tenant flex buildings totaling 120,195 square feet of leasable area, which includes 10,500-square feet of canopied space, well-positioned in the northwestern quadrant of Houston, Texas. The center is 96 percent occupied, and all leases are on triple-net terms. The diverse tenant base consists of internet-resistant and service-oriented local businesses providing services to the surrounding area. The buildings are situated on 8.05 acres with concrete parking and were constructed between 2017 and 2021, featuring metal roofs.
LOCATION DESCRIPTION
Linh Dao City Center and Linh Dao Plaza are located on Jones Road with high traffic counts exceeding 48,286 vehicles per day. The subject property is in a dense retail trade area, near neighboring national and regional retailers including H-E-B, Family Dollar, Discount Tire, Kroger, ALDI, Planet Fitness, McDonald’s, Take 5 Oil Change, Ollie’s Bargain Outlet, Goodwill, Ross Dress for Less, Dollar Tree, EZPawn, Metro by T-Mobile, Walmart Supercenter, Target, The Home Depot, and many more. The subject property is also in proximity to major employers such as Toshiba International Corpora on, providing a day me employment population of approximately 153,220 people within a five-mile radius.
The surrounding area benefits from desirable demographics, serving a population of more than 248,957 residents within a five-mile radius. The average household income is $83,474 within one mile; $91,876 within three miles; and $98,014 within five miles.
The city of Houston has one of the youngest, fastest-growing, most diverse populations in the world. The Houston metropolitan area is currently the fifth-largest in the nation with 6.9 million people, and experienced a growth rate of over 16 percent between 2010 and 2017. The city is also one of the largest international trading hubs in the Americas; the region has trading relationships with more than 200 countries. The region’s geographic location makes it easy to move both goods and people around the world efficiently, from the Port of Houston to the Houston Airport System.