top of page

Rice Boulevard
Shopping Center
Asking Price: $38,000,000.00

Rice Boulevard
Shopping Center

Asking Price: $38,000,000.00

Subject Property was found to be overpriced after a meeting with the Listing Brokers.*

Details

Address                                    2500 Rice Boulevard,
                                                        Houston, Tx 77005

Asking Price                                         $38,000,000.00

NOI                                                           $1,800,000.00

Cap Rate                                                                4.7%
                                    
Building SF                                               +/-42,265 SF          
Land SF                                              +/-108,028.80 SF
                                                                      (2.48 AC)

Parking Spaces                                                       178

Occupancy                                                           86%

*2360 Rice LLC, Randall Davis paid between $235-$260 for .4 acres (17,424 SF) on 2/24/2022 per John Indelli. Josh Jacobs was the listing broker.

New Quest was hired to do the marketing and lease up of Rice Shopping Center. With WALT expiration coming up, they failed miserably forcing the owners to sell.

Rice Shopping Center Rents: $52.00 + NNN
Competitors Rent: $65.00 + NNN

bottom of page