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Silverlake Village Center, Pearland, TX

Silverlake Village Center

Pearland, TX

Price $2,950,000
Cap Rate 7.00%
NOI $206,550
Lease Term Various
Lease Type NNN + 10-15% Administrative Fees
Rental Increases Various
Year Built 2002
Building Size 10,497 SF
Lot Size 0.993 Acres (43,269 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.

Investment Highlights

100% LEASED MULTI-TENANT RETAIL CENTER
» 100% leased to robust mix of complimentary tenants
» Scheduled rental increases, providing a hedge against inflation

HIGH TRAFFIC LOCATION IN PEARLAND’S PRIMARY RETAIL CORRIDOR
» Located at signalized intersection, with excellent visibility and access to 38,770 vehicles per day
» Convenient access to Highway 288 (82,630 AADT), a major commuter route leading to downtown Houston and the Texas Medical Center, one of the largest employers of Pearland residents
» Broadway Street is Pearland’s primary retail corridor, with over 2.5 million square feet of retail within a one-mile radius of the property

LARGE, WEALTHY CUSTOMER BASE
» Located in Silverlake, a master planned community with 4,500 homes ranging in price from $150,000 to nearly $1 million
» Average household income of $152,130 within one mile, $128,150 within three miles, and $105,816 within five miles
» Population of 134,212 within a five-mile radius
» Pearland is the third largest city in the Houston MSA

GROWING AREA NEAR MAJOR EMPLOYMENT CENTERS
» From 2000 to 2010, Pearland was the fastest growing city in the Houston MSA and the second fastest growing in Texas
» Less than 12 miles from the Texas Medical Center, which employs a majority of the community’s labor force
» Near other large employment centers, including downtown Houston and the Lyndon B. Johnson Space Center

Click Here to Download Offering Memorandum


Property Description

The property is conveniently located at the signalized intersection of Broadway Street and County Road 94, with excellent access and visibility to 38,770 vehicles per day. Access to Highway 288 is approximately half a mile from the site down Broadway Street. Highway 288 is a major commuter thoroughfare leading to downtown Houston and the Texas Medical Center, one of the largest employers of Pearland residents. Additionally, Broadway Street is Pearland’s primary east-west route and is a dense retail corridor. Subsequently, the property is near several large retail centers. Silverlake Village, The Crossing at 288, Shadow Creek Ranch Town Center, and Pearland Town Center are all within a mile of the property. The four large shopping centers, featuring more than 2.5 million square feet of combined retail space and over 250 stores and services, are anchored by major national tenants, including Super Target, Walmart, Macy’s, Dillard’s, Barnes & Noble, H-E-B, Burlington Coat Factory, Bed Bath & Beyond, Cinemark Theatres, Best Buy, and many others. Other notable retailers near the site include Home Depot, 24 Hour Fitness, KFC, Taco Bell, Chick-fil-A, CVS, Children’s Learning Adventure, Bank of America, and AutoZone.

The property is located within Silverlake, a 1,800-acre planned community with over 4,500 completed homes ranging in price from $150,000 to nearly $1 million. Silverlake offers high-quality amenities, including a golf course, 29-acre lake, clubhouse, and several parks and athletic fields. The property is close to several other affluent planned communities and residential neighborhoods. The average household income within a one-mile radius of the site is $152,130, and average household incomes greatly exceed $100,000 within three- and five-mile radii as well. Additionally, 134,212 people live within a five-mile radius of the property, providing a large, wealthy customer base.

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