Description

Friendswood Center is a modern, 100 percent leased retail investment located at 1720 South Friendswood Drive in the heart of Friendswood, Texas. Constructed in 2021, this neighborhood shopping center offers 10,100 square feet of gross leasable area on a 1.14-acre site with surface parking for 51 vehicles (5.04 stalls per 1,000 sf). Exceptional visibility and access are provided by 29,000 CPD on Parkwood Drive and 17,000 CPD on Friendswood Drive, positioning the asset to capture strong daytime and evening trade in the Southeast Outlier submarket of the Houston MSA.

Offered at $5,500,000 ($545 per square foot), Friendswood Center delivers a stabilized net operating income of $305,480 and a 5.55 percent in-place cap rate under NNN lease structures. Operating expenses are capped at $14.22 per square foot, allowing for predictable, landlord‐controlled expense management and minimal property management oversight. The center’s modern design and flexible retail bays accommodate a range of tenants, from QSR and quick-service restaurants to banks, drug stores and boutique retailers.

With a strong regional consumer base and limited new retail supply in Friendswood, this turnkey asset presents an attractive value proposition for investors seeking durable cash flow and long-term appreciation. Priced at approximately $4.82 million per acre, Friendswood Center offers immediate income and upside potential through rental rate growth in one of the fastest‐growing suburban markets of the Houston metropolitan area.