Sterling Lakes Retail Center | 3244 Meridiana Pky
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Sterling Lakes Retail Center 3244 Meridiana Pky
17,052 SF 100% Leased Retail Building Rosharon, TX 77583 £6,381,960 (£374/SF) 7% Net Initial Yield
Virtual Tour
Investment Highlights
- Sterling Lakes Retail Center, 3244 Meridiana Parkway, is a shopping hub fully occupied by tenants on strong lease terms with annual rent increases.
- Leased to synergistic tenants, including a boutique fitness club, dental practice, donut shop, pediatric center, dry cleaners, and three food options.
- 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.
- 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 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.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
17,052 SF
Building Class
B
Year Built
2020
Price
£6,381,960
Price Per SF
£374
Net Initial Yield
7%
NOI
£446,792
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.16
Land Acres
2.39 AC
Amenities
- Freeway Visibility
- Signage
- Signalised Intersection
About Far South
This part of south Houston enjoys access to several major highway routes including State Highway 6 and State Highway 88. It is a short commute to nearby job centers such as Pearland and Downtown, and a large number of residents work in the manufacturing, construction and utilities sectors. Petrochemical giant Dow Chemical Company is the area’s largest employer, employing more than 7,000 people.
This locale is home to the massive Brazos Mall super-regional mall, which accounts for about 700,000 square feet of retail space and draws shoppers from all over Houston. The area is also home to an array of grocery-anchored shopping centers, such as the Shadow Creek Ranch Town Center in Pearland, which is anchored by H-E-B, or the Four Corners Shopping Center in Angleton, which is anchored by Kroger.
New multifamily properties have cropped up in and around the neighborhood, mainly in the northeast near Pearland. Household incomes are much higher than those in nearby neighborhoods, providing retailers a broad base of consumers.
Retail properties in this part of Houston typically sell at a discount to more in-town assets such as those in Near West. Investors often focus on well-located shopping centers with high traffic counts along some of the area’s most traveled corridors.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
6,280
20,261
46,191
122,623
2029 Population
7,312
24,067
54,218
142,502
2024-2029 Projected Population Growth
16.4%
18.8%
17.4%
16.2%
Median Age
34.3
34.1
34.8
35.7
College Degree + Higher
33%
38%
32%
24%
Daytime Employees
544
933
4,634
21,331
Total Businesses
78
176
634
2,971
Average Household Income
$116,872
$113,708
$111,833
$124,962
Median Household Income
$88,695
$80,298
$85,672
$97,226
Total Consumer Spending
$74.2M
$235.5M
$517.7M
$1.5B
2024 Households
1,960
6,438
13,943
38,758
Average Home Value
$310,294
$295,229
$294,706
$315,281
$ values in USD
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Center Court Pizza & Brew | Pizza | £ | 11 min walk |
| Starbucks | Cafe | £ | 11 min walk |
Retail |
||
|---|---|---|
| CVS Pharmacy | Drug Store | 1 min walk |
| 7-Eleven | Convenience Market | 11 min walk |
Hotels |
|
|---|---|
| Best Western Plus |
50 rooms
11 min drive
|
| Spark by Hilton |
73 rooms
15 min drive
|
| Courtyard |
110 rooms
15 min drive
|
| La Quinta Inns & Suites |
56 rooms
16 min drive
|
PROPERTY TAXES
| Parcel Number | 5550-1000-004 | Improvements Assessment | £3,084,528 |
| Land Assessment | £668,545 | Total Assessment | £3,753,072 |
PROPERTY TAXES
Parcel Number
5550-1000-004
Land Assessment
£668,545
Improvements Assessment
£3,084,528
Total Assessment
£3,753,072
Sale Advisors
Sale Advisors
Joshua Jacobs, Owner/Managing Principal
(713) 230-8882
Contact
Josh is the Owner and Managing Principal of The Blue Ox Group, starting the firm during the height of the COVID-19 Pandemic in June of 2020. He was previously with Edge Realty Partners where he co-founded the Houston office in 2011.
Josh began his career in 1996 in the commercial real estate industry. He has a multifaceted approach while specializing in the retail sector of the commercial real estate industry. With his broad range of experience, he can draw on his diverse history of transactions and situations to help his clients achieve their goals. He has unparalleled determination and a passion for his clients’ ultimate success. Josh is highly respected by his peers for his professionalism, creativity, and deal-making skills. Josh leads his team of experts, as he loves being a mentor and coach.
Josh has been a leader in the retail business in Houston since he began his career. He focuses his attention primarily on investment sales where he has had tremendous success primarily on investments of $15 Million and under to local, regional, and some institutional clients. The experience is focused on independent single-purpose buildings, multi-tenant shopping centers, and triple net sales. He also spends his time on the sale of large land tracts as well as the bifurcation of these tracts for sale to users and investors. Additionally, small hard corner parcels are a mainstay of his business.
He has also spent his career project leasing hundreds of properties throughout Houston and has a team that is exceptional at this work, although he is still involved and loves the design of the projects and strategy to make the most of the client’s goals.
Josh has worked with numerous retailers and restaurants and loves helping to launch new brands into the market as well as developing expansion strategies for proper market penetration as well as assisting single market operators and many local “Mom & Pop” clients.
Josh began his career in 1996 in the commercial real estate industry. He has a multifaceted approach while specializing in the retail sector of the commercial real estate industry. With his broad range of experience, he can draw on his diverse history of transactions and situations to help his clients achieve their goals. He has unparalleled determination and a passion for his clients’ ultimate success. Josh is highly respected by his peers for his professionalism, creativity, and deal-making skills. Josh leads his team of experts, as he loves being a mentor and coach.
Josh has been a leader in the retail business in Houston since he began his career. He focuses his attention primarily on investment sales where he has had tremendous success primarily on investments of $15 Million and under to local, regional, and some institutional clients. The experience is focused on independent single-purpose buildings, multi-tenant shopping centers, and triple net sales. He also spends his time on the sale of large land tracts as well as the bifurcation of these tracts for sale to users and investors. Additionally, small hard corner parcels are a mainstay of his business.
He has also spent his career project leasing hundreds of properties throughout Houston and has a team that is exceptional at this work, although he is still involved and loves the design of the projects and strategy to make the most of the client’s goals.
Josh has worked with numerous retailers and restaurants and loves helping to launch new brands into the market as well as developing expansion strategies for proper market penetration as well as assisting single market operators and many local “Mom & Pop” clients.
Claire Salazar, Retail Specialist
(346) 355-1161
Contact
Claire joined the The Blue Ox Group in 2020 as an Associate specializing in Retail.
Before bringing her talents to The Blue Ox Group, Claire worked at Landry’s Inc., where she served as a Creative Coordinator for Retail. Prior to Landry’s, she gained her experience and grew her knowledge from working for worldwide known brands such as Cartier and Lululemon Athletica.
Claire is a transplant to the great city of Houston; she was born and raised in Tulsa, Oklahoma. She attended the University of Houston, where she received her B.S. in Retailing & Consumer Science and played collegiate soccer for the Cougars. Go Coogs!
Claire has a knack for identifying business and personal opportunities and is adept at cultivating partnerships and building lasting relationships.
In her free time, you can find Claire spending time with her furry child, Gibson, and her family & friends. She has a love for fashion, travel, the outdoors, and experiencing new adventures! Claire is an avid golfer, fitness enthusiast, and amateur adventurist.
Before bringing her talents to The Blue Ox Group, Claire worked at Landry’s Inc., where she served as a Creative Coordinator for Retail. Prior to Landry’s, she gained her experience and grew her knowledge from working for worldwide known brands such as Cartier and Lululemon Athletica.
Claire is a transplant to the great city of Houston; she was born and raised in Tulsa, Oklahoma. She attended the University of Houston, where she received her B.S. in Retailing & Consumer Science and played collegiate soccer for the Cougars. Go Coogs!
Claire has a knack for identifying business and personal opportunities and is adept at cultivating partnerships and building lasting relationships.
In her free time, you can find Claire spending time with her furry child, Gibson, and her family & friends. She has a love for fashion, travel, the outdoors, and experiencing new adventures! Claire is an avid golfer, fitness enthusiast, and amateur adventurist.
-
Power Broker Joshua Jacobs -
Claire Salazar -
The Blue Ox Group
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