Grand Parkway Retail Center - Richmond, TX by STRIVE

GRAND PARKWAY RETAIL CENTER RICHMOND, TX (HOUSTON MSA)

PRI CING & F INAN CI AL AN ALYSI S

G R AND PAR K WAY R E TAIL C E NT E R

Grand Parkway Retail Center 620 Crabb River Rd Richmond, TX 77469

OFFERING SUMMARY Price Cap Rate Net Operating Income

$5,937,000 7.25% $430,438

Price PSF

$219.89

Occupancy

100.0%

Year Built

1995/2006

Gross Leasable Area

27,000 SF

Lot Size

4.00 Acres

F I N A N C I A L A N A LY S I S

PRI CING & F INAN CI AL AN ALYSI S

PROJECTED INCOME & EXPENSES Base Rent - Occupied Space

100%

GROSS POTENTIAL RENT

G R AND PAR K WAY R E TAIL C E NT E R

CURRENT

PSF

$438,450

$16.24

$438,450

$16.24

EXPENSES

CURRENT

PSF

Real Estate Taxes

$64,232

$2.38

Insurance

$14,679

$0.54

Accounting

$6,000

$0.22

Repair & Maintenance

$19,850

$0.74

Electricity

$5,817

$0.22

CAM

Expense Reimbursements Real Estate Tax Recoveries

$57,095

$2.11

Insurance Recoveries

$13,048

$0.48

CAM Recoveries

$56,872

$2.11

Management Recoveries

$18,667

$0.69

Yard Service

$7,200

$0.27

Total Expense Reimbursements

$145,682

$5.40

Trash Service

$9,519

$0.35

Sign Revenue

$10,200

$0.38

Misc / Office

$2,853

$0.11

$594,330

$22.01

Pest Control

$1,294

$0.05

Legal

$6,787

$0.25

Environmental

$4,662

$0.17

$63,981

$2.37

$21,000

$0.78

$163,891

$6.07

EFFECTIVE GROSS REVENUE Operating Expenses Total Real Estate Taxes

$64,232

$2.38

Total Insurance

$14,679

$0.54

Total CAM

$63,981

$2.37

Total CAM

$21,000

$0.78

Management Fee

Total Recoverable Expenses

$163,891

$6.07

Total Expenses

Net Operating Income

$430,438

$15.94

Management Fee

3.50%

For Financing Options, Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com

F I N A N C I A L A N A LY S I S

RE NT RO L L

Tenant

G R AND PAR K WAY R E TAIL C E NT E R

Suite

SQ FT

% of

Lease Dates

Minimum Rent

Recoveries

Start

End

Annual

Monthly

PSF

Annual

PSF

Sign Revenue

Total Revenue

% of Revenue

Peking Garden

622

2,000

7.41%

11/07

11/21

$30,000

$2,500

$15.00

$12,140

$6.07

$600

$42,740

7.19%

Solar Nails

624

1,000

3.70%

08/06

07/22

$15,000

$1,250

$15.00

$6,070

$6.07

$600

$21,670

3.65%

Sister Sister Hair

626

1,000

3.70%

10/05

09/22

$15,000

$1,250

$15.00

$6,070

$6.07

$600

$21,670

3.65%

Salvadorian

628

1,500

5.56%

08/16

06/24

$22,500

$1,875

$15.00

$9,105

$6.07

$1,200

$32,805

5.52%

Jockomos Creole

630

1,250

4.63%

11/19

10/22

$18,750

$1,563

$15.00

$7,588

$6.07

$600

$26,938

4.53%

Coretech Fitness

632

4,025

14.91%

05/19

04/24

$60,375

$5,031

$15.00

$24,432

$6.07

$1,200

$86,007

14.47%

Broadway Poker

636

1,225

4.54%

03/18

08/23

$18,375

$1,531

$15.00

$7,436

$6.07

$25,811

4.34%

Unity Taekwondo

722

4,000

14.81%

01/18

12/21

$52,800

$4,400

$13.20

$24,280

$6.07

$1,200

$78,280

13.17%

Citgo dba Pinky

722

3,000

11.11%

01/95

12/27

$72,000

$6,000

$24.00

$0.00

$72,000

12.11%

Oracle Ministries

724

1,500

5.56%

08/11

MTM

$18,000

$1,500

$12.00

$9,105

$6.07

$1,200

$28,305

4.76%

MVC Barber Shop

726

1,250

4.63%

02/17

01/24

$18,750

$1,563

$15.00

$7,588

$6.07

$600

$26,938

4.53%

Texas Mobile Cater-

734

1,250

4.63%

09/19

08/22

$18,750

$1,563

$15.00

$7,588

$6.07

$1,200

$27,538

4.63%

Greatwood Cleaner

738

2,750

10.19%

03/95

03/27

$59,400

$4,950

$21.60

$16,693

$6.07

$1,200

$77,293

13.00%

We Care Pharmacy

742

1,250

4.63%

03/20

02/23

$18,750

$1,563

$15.00

$7,588

$6.07

$26,338

4.43%

Total Count/GLA

27,000

100%

Totals

$438,450

$36,538

Occupied

27,000 100.0%

Available

Total Avg Rent

$145,682

$10,200

$594,332 100.00%

0.0%

$16.24 27,000 100.0%

F I N A N C I A L A N A LY S I S

E S TI MATED REIMBUR SEMEN T R EVEN U E

Tenant

Suite

SQ FT

% of SQFT

G R AND PAR K WAY R E TAIL C E NT E R

Real Estate Taxes

Insurance

CAM

Management Fee

Total Recovery

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Peking Garden

622

2,000

7.41%

$396

$2.38

$91

$0.54

$395

$2.37

$130

$0.78

$1,012

$6.07

Solar Nails

624

1,000

3.70%

$198

$2.38

$45

$0.54

$197

$2.37

$65

$0.78

$506

$6.07

Sister Sister Hair Braid-

626

1,000

3.70%

$198

$2.38

$45

$0.54

$197

$2.37

$65

$0.78

$506

$6.07

Salvadorian Restauar-

628

1,500

5.56%

$297

$2.38

$68

$0.54

$296

$2.37

$97

$0.78

$759

$6.07

Jockomos Creole

630

1,250

4.63%

$248

$2.38

$57

$0.54

$247

$2.37

$81

$0.78

$632

$6.07

Coretech Fitness Club

632

4,025

14.91%

$798

$2.38

$182

$0.54

$795

$2.37

$261

$0.78

$2,036

$6.07

Broadway Poker Club

636

1,225

4.54%

$243

$2.38

$55

$0.54

$242

$2.37

$79

$0.78

$620

$6.07

Unity Taekwondo

722

4,000

14.81%

$793

$2.38

$181

$0.54

$790

$2.37

$259

$0.78

$2,023

$6.07

Citgo dba Pinky Store

722

3,000

11.11%

$0.00

Oracle Ministries

724

1,500

5.56%

$297

$2.38

$68

$0.54

$296

$2.37

$97

$0.78

$759

$6.07

MVC Barber Shop

726

1,250

4.63%

$248

$2.38

$57

$0.54

$247

$2.37

$81

$0.78

$632

$6.07

Texas Mobile Catering

734

1,250

4.63%

$248

$2.38

$57

$0.54

$247

$2.37

$81

$0.78

$632

$6.07

Greatwood Cleaner

738

2,750

10.19%

$545

$2.38

$125

$0.54

$543

$2.37

$178

$0.78

$1,391

$6.07

We Care Pharmacy

742

1,250

4.63%

$248

$2.38

$57

$0.54

$247

$2.37

$81

$0.78

$632

$6.07

27,000

100%

$4,758

Totals

$1,087

$4,739

$1,556

$12,140

F I N A N C I A L A N A LY S I S

L E A SE PROVIS ION S

Tenant

G R AND PAR K WAY R E TAIL C E NT E R

Suite

SQ FT

Base Rental Increases

Renewal Options

Date

PSF

Options

Date

PSF

Peking Garden

622

2,000

1x5

11/15/2021

Mkt

Solar Nails

624

1,000

1x3

8/1/2022

Mkt

Sister Sister Hair Braiding

626

1,000

1x3

10/1/2022

Mkt

Salvadorian Restauarant

628

1,500

1x3

7/1/2024

Mkt

Jockomos Creole Kitchen

630

1,250

1x3

11/1/2022

Mkt

Coretech Fitness Club

632

4,025

1x5

5/1/2024

Mkt

Broadway Poker Club

636

1,225

1x3

9/1/2023

Mkt

Unity Taekwondo

722

4,000

1x5

1/1/2022

15.00

Citgo dba Pinky Store LLC

722

3,000

Oracle Ministries

724

1,500

MVC Barber Shop

726

1,250

1x3

2/1/2024

Mkt

Texas Mobile Catering

734

1,250

1x3

9/1/2022

Mkt

Greatwood Cleaner

738

2,750

1x5

4/1/2027

Mkt

We Care Pharmacy

742

1,250

1x3

3/1/2023

Mkt

Totals

F I N A N C I A L A N A LY S I S

TE NA NT INF ORMAT I ON

G R AND PAR K WAY R E TAIL C E NT E R

DBA

Peking Restaurant

Public/Private

Private

Line of Business

Peking Garden offers delicious dining, takeout and delivery to Richmond, TX. Peking Garden is a cornerstone in the Richmond community and has been recognized for its outstanding Chinese cuisine, excellent service and friendly staff. It is known for its modern interpretation of classic dishes and its insistence on only using high quality fresh ingredients.

DBA

Citgo Petroleum Corporation

Locations

4,670+ Locations

Public/Private

Private

Line of Business

Citgo Petroleum Corporation (or Citgo, stylized as CITGO) is a United States-based refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. Headquartered in the Energy Corridor area of Houston.

DBA

Unity Martial Arts

Public/Private

Private

Line of Business

Unity Martial Arts offers a family environment to train a variety of martial arts to fulfill your goals and focus on improving your life. They offer numerous types of martial arts for all different ages.

PROPERTY DESCRIPTION

I N VE S TMENT HI GHLI GHT S

G R AND PAR K WAY R E TAIL C E NT E R

• 100% Occupied Neighborhood Retail Center in one of the Highest Growth Counties in the United States • Complementary, Internet-Resistant Tenant Mix • Long Term Historical Tenancy - Average Duration of Occupancy is Over 9 Years per Tenant • Below Market Rents – Average Rent at the Property is only $16.24/SF • Citgo Gas Station – 8 Gas Pumps and Convenience Store – Potential for Accelerated Depreciation • Average Household Income is Over $140,000 in a 5 Mile Radius – Almost Double the National Average • Median Home Value in a 5 Mile Radius is over $325,000 • Surrounding National Retailers Include: HEB, LA Fitness, Buc-ee’s, McDonald’s, Goodwill, Chick-fil-A, CVS, Dollar Tree, Bank of America, Burger King, and Many More

PROPERTY DESCRIPTION

Poker Club

Coretech Fitness Lab

Jockomos

El Salvador Pupusas y Mas

Mimi Hair Braiding

We Care Pharmacy

Greatwood Cleaner

Texas Mobile Catering

MVC Barbershop

Oracle Ministries

Citgo Convenient Stroe

Citgo Gas Pumps

Solar Nails

Peking Garden

S I T E PL A N G R AND PAR K WAY R E TAIL C E NT E R

Detention Pond

Unity Taekwondo

PROPERTY DESCRIPTION

A E R I AL MA P

G R AND PAR K WAY R E TAIL C E NT E R

IVE

DIKINSON ELEMENTARY SCHOOL VP

2 VP

16, 766

75,45

MARKET OVERVIEW

LO C AL MA P

G R AND PAR K WAY R E TAIL C E NT E R

MARKET OVERVIEW

REG IONA L MA P

G R AND PAR K WAY R E TAIL C E NT E R

MARKET OVERVIEW

M A R KET S U MMARY

G R AND PAR K WAY R E TAIL C E NT E R

Houston, TX

OVERVIEW Houston is the most populous city in the state of Texas and the fourth-most populous city in the United States, with an estimated 2019 population of 2,320,268. The seat of Harris County, Houston is the principal city of the Greater Houston metropolitan area, which is the fifth most populous MSA in the United States (2019 population estimate of 7,066,141). With a total area of over 637 square miles, Houston is the eighth most expansive city in the United States.

Houston is recognized worldwide for its energy industry (particularly for oil and natural gas) as well as for biomedical research and aeronautics. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.

Houston was founded in 1836 on land near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city on June 5, 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles (40 km) east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center — the world’s largest concentration of healthcare and research institutions — and NASA’s Johnson Space Center, where the Mission Control Center is located.

Nicknamed the Space City, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research. The city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is considered to be the most diverse city in Texas and the United States. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts.

Q U I C K S TAT S

1 2nd No. 3 4th 22 st

Most-Populous City in the State of Texas

Second-Best U.S. Cities for Job Growth (CBS News)

Third-Best American City of the Future (Financial Times)

Most-Populous City in the United States

Fortune 500 Companies Call Houston Home (Fortune) MARKET OVERVIEW

D E M OG RA PHIC STAT I ST I CS

G R AND PAR K WAY R E TAIL C E NT E R

1 Mile

3 Mile

5 Mile

Population

1 Mile

3 Mile

5 Mile

Households:

2010 Population

11,186

38,041

88,174

2010 Households

3,585

12,105

27,317

2020 Population

11,142

52,647

123,811

2020 Households

3,568

16,918

38,584

2025 Population Projection

12,062

58,901

138,666

2025 Household Projection

3,857

18,925

43,201

Annual Growth 2010-2020

0.00%

3.50%

3.70%

Annual Growth 2010-2020

0.00%

3.70%

3.80%

Annual Growth 2020-2025

1.70%

2.40%

Annual Growth 2020-2025

1.60%

2.40%

Median Age

36.6

36.8

Owner Occupied

3,413

15,724

34,807

Bachelor's Degree or Higher

44%

47%

48%

Renter Occupied

444

3,201

8,394

3.1

$145.3M

$703.4M

$1.6B

Avg Household Income

$126,079

$137,968

$142,444

Median Household Income

$107,044

$113,580

$115,475

< $25,000

237

1,093

2,980

U.S. Armed Forces

Avg Household Size Avg Household Vehicles

Population by Race

Total Consumer Spending

White

6,677

29,655

64,771

Black

2,596

11,622

20,438

208

556

1514

9,825

34,940

Two or More Races

302

1,304

3,032

$25,000 - 50,000

442

2,091

5,320

Hispanic Origin

2,961

11,752

28,773

$50,000 - 75,000

473

2,292

4,601

$75,000 - 100,000

467

1,764

3,469

American Indian/Alaskan Native Asian Hawaiian & Pacific Islander

Housing Median Home Value Median Year Built

Income

$242,129

$290,581

$325,896

$100,000 - 125,000

582

2,244

4,722

1996

2004

2003

$125,000 - 150,000

336

1,630

3,312

$150,000 - 200,000

530

2,491

5,335

$200,000+

499

3,313

8,847

MARKET OVERVIEW

CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. • Must not, unless specifically authorized in writing to do so by the party, disclose: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

exclusively listed 469.844.8880

STRIVERE.COM