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Property Detail

Meridiana Parkway
Sterling Lakes Retail Center, 3244 Meridiana Parkway, is a shopping hub fully occupied.
$8,136,000

Description

  • Sterling Lakes Retail Center, 3244 Meridiana Parkway, is a shopping hub fully occupied by tenants on strong lease terms with annual rent increases.
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  • Leased to synergistic tenants, including a boutique fitness club, dental practice, donut shop, pediatric center, dry cleaners, and three food options.
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  • Invest in a booming area as the population within a 3-mile radius grew by 58% from 2020 to 2024 and is projected to rise another 19% by 2029.
  • Built in 2020 and spanning 17,052 square feet on a 2.39-acre / 104,065-square-foot lot with 106 parking spaces and multiple access points.
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  • Positioned at a burgeoning intersection that sees about 49,000 cars daily from US 288 with a roadway extension poised to increase traffic.

Executive Summary

Acquire a piece of valuable real estate in a booming town south of Houston and discover the rising market factors priming this locale for success with 3244 Meridiana Parkway.

Sterling Lakes Retail Center is a premier asset with positive cash flow and is positioned to have long-term success in this abounding area. Built in 2020, the shopping center asserts a stately presence with refined brick architecture and ivory trim. It is fully leased to eight service, retail, restaurant, fitness, and medical tenants with renewal options and a majority on 2% annual rent increases. Sterling Lakes Retail Center is also shadow-anchored by CVS, which is one of the many advantages this brimming location provides.

Situated at the southwest corner of Highway 288 and Meridiana Parkway (CR 56), Sterling Lakes Retail Center is one of the most visible and accessible properties in the area. Karsten Boulevard, the road intersecting with Meridiana Parkway just to the west, has a planned extension to connect with CR 57. This extension will snake through a litany of developments, such as several retailers across Meridiana Parkway, the 2,862-lot Sterling Lakes community, a Crystal Lagoons project, and a proposed mixed-use development.

An explosion of migration here precipitated these developments, and new residents tend to be affluent as the average annual household income within a 3-mile radius is $113,708. These projects and key consumer pools have poised the area for a rise to prominence and appreciation of property values. Get in now by acquiring Sterling Lakes Retail Center today.
 

Sterling Lakes Retail Center

Listing ID : 00770

SKU: 770

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Price History

DateEventPrice
December 10 2024Listed$8,136,000.00