9115 Farm to Market Road 723

Richmond, TX 77406

Listing ID: 259287

$8,563,000

For Sale

Property Type Retail for Sale : Shopping Center
Lot Size Acres 2.080
Building Sq Ft 17,014
Building Price per Sq Ft $503.29
Land Sq Ft 90,604
Land Price per Sq Ft $94.51

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Description

The offering provides an opportunity for an investor to acquire a new construction, fully occupied, trophy retail strip center in a high-growth Houston suburb.
The building was constructed using first class building materials with design and aesthetic enhancements. The subject property is leased by a prominent mix of successful regional businesses in diversified economic sectors with alternating prime business hours for good traffic/parking synergy. All tenants are on NNN leases with tenants reimbursing for all operating expense including management.
The Retail Market is a densely populated, affluent Houston suburb with average household incomes exceeding $120,000 within a three-mile radius. The property is surrounded by new, high-end residential, master-planned communities, including Cinco Ranch (15,000 homes), Westheimer Lakes (1,800 homes) and The Talavera (760 homes). (See page 12 for aerial). Other national tenants in immediate proximity to the subject property include HEB Grocery, Lowes, Walgreens, Kroger, Chase Bank, and Bank of America among others. The subject property is strategically located at the intersection of FM 1093 (26,000 VPD) and FM 723 (19,548 VPD). FM 1093 connects Katy with downtown Houston.

Attachments & Files

shoppes-at-richmond-lakes-bldg-3-E9q-X1h.pdf

Listing Demographics for 9115 Farm to Market Road 723 Richmond, TX 77406

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		6,401	59,045	143,051
Population Median Age		32	33	33
Population by Age	0-9 Yrs	1283 (20%)	10730 (18%)	25399 (17%)
	10-19 Yrs	1084 (16%)	10150 (17%)	24828 (17%)
	20-29 Yrs	462 (7%)	4228 (7%)	10851 (7%)
	30-39 Yrs	1095 (17%)	9255 (15%)	22064 (15%)
	40-49 Yrs	1243 (19%)	11514 (19%)	27024 (18%)
	50-59 Yrs	614 (9%)	6416 (10%)	16367 (11%)
	60-69 Yrs	364 (5%)	3809 (6%)	9797 (6%)
	70+ Yrs	255 (3%)	2943 (4%)	6721 (4%)

Median HH Income		$153,590	$144,026	$139,228
Total Household Income	< 24K	67 (3%)	946 (5%)	2382 (5%)
	25-49K	141 (7%)	1319 (7%)	3014 (6%)
	50-74K	115 (6%)	1374 (7%)	3782 (8%)
	75-99K	134 (7%)	1481 (8%)	4178 (9%)
	100-199K	823 (44%)	7502 (42%)	18073 (41%)
	200K+	569 (30%)	5125 (28%)	11870 (27%)

Highest Education Level	No Diploma	132	1273	2921
	Diploma or GED	393	3652	9262
	Some College	569	5776	15392
	Assoc. Degree	236	2383	6216
	Bachelors Degree	1299	12618	30378
	Higher Degree	1163	10290	23148

Total Housing Units		1,961	18,674	45,715
--Owner-Occupied		1,623	14,878	36,371
--Renter-Occupied		225	2,868	6,929
Owner-Occupied Values	< 100K	3	90	250
	100-199K	46	700	1993
	200-299K	427	3973	10749
	300-399K	537	4738	11509
	400-499K	327	2567	6113
	500K+	283	2809	5757

Total Working Age Population		4,377	41,399	100,696
In Work Force		3,061	27,801	68,616
Not In Work Force		1,316	13,599	32,080
Workforce Employed		2,899	26,374	65,393
Workforce Unemployed		159	1,401	3,146
Civlian Workforce		3,058	27,775	68,539
Military Workforce		4	26	77

Total Households		1,849	17,746	43,300
Family Households		1,686	15,691	38,355
Non-Family Households		163	2,055	4,945
Married Couple		1,518	14,068	34,136
Other Family		168	1,623	4,219
Married w/Child		1,057	9,359	21,987
Single Male w/Child		36	288	733
Single Female w/Child		83	777	1,984

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Texas	20,851,820	+21	25,145,561	+18	29,677,668	+18	34,894,452
Fort Bend County	354,452	+65	585,375	+44	840,383	+43	1,203,029
Harris County	3,400,578	+20	4,092,459	+22	4,978,845	+19	5,924,750
Waller County	32,663	+32	43,205	+17	50,731	+16	59,021
Wharton County	41,188	0	41,280	+2	41,941	+1	42,321

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views

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