Heights Forum 1324 N Shepherd Dr 23,895 SF 83% Leased Retail Building Houston, TX 77008 $20,848,101 CAD ($872.49 CAD/SF)



INVESTMENT HIGHLIGHTS
- Heights Forum, 1324 N Shepherd Drive, is a 23,895-square-foot mixed-use property built in 2021 on 1.13 acres in the Houston Heights area.
- Built-in annual base rent increases guarantee rising revenues, and the below-market rents present significant future earnings growth potential.
- Invest in booming Houston Heights as the number of households within a 2-mile radius of 1324 N Shepherd Drive increased by 17.2% from 2020 to 2024.
- 92% occupied by a recession-proof tenant mix that includes healthcare providers, professional services, wellness centers, and food concepts.
- Constructed to superior standards, winning Heights Forum the Red News Mixed-Use Project of the Year Award in 2022.
- RECENT PRICE REDUCTION. Ideal 1031 Exchange opportunity. Contact Brent Fredricks at 713-572-3500 to learn more.
EXECUTIVE SUMMARY
The two-story property is 92% leased to a diverse and resilient tenant mix, including Top Care ER, Milk & Sugar Creamery, Swish Dental, Yoga Six, Chi'Lantro BBQ, and Heatwave Fitness. With three primary access points and one elevator, Heights Forum was designed for optimal functionality and convenience. Built-in annual base rent increases ensure rising revenue streams, while current below-market rents provide significant future income growth potential. The property was honored as the 2022 Red News Awards Mixed-Use Project of the Year, reinforcing its standing as a best-in-class investment.
Situated in the dynamic Houston Heights area, Heights Forum benefits from high foot traffic and exceptional accessibility. This vibrant neighborhood blends historic charm with modern development, attracting a steady influx of residents and businesses. Land values in Houston Heights have surged 64% over the past decade, underscoring the area’s strong economic trajectory and real estate demand. Heights Forum is perfectly positioned to capitalize on the neighborhood’s continued growth and long-term value appreciation. Inquire now.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
---|---|---|
Gross Rental Income |
-
![]() |
-
![]() |
Other Income |
-
![]() |
-
![]() |
Vacancy Loss |
-
![]() |
-
![]() |
Effective Gross Income |
-
![]() |
-
![]() |
Net Operating Income |
$99,999
![]() |
$9.99
![]() |
PROPERTY FACTS
AMENITIES
- Pylon Sign
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
Based in Austin, Texas, Chi’Lantro is an award-winning restaurant, mobile food truck and full-service catering company with a passion for creating diverse, Korean BBQ-inspired cuisine.The name “Chi’Lantro” is a combination of the words “kimchi” and “cilantro.” With the vision to inspire the way people eat and think about Korean BBQ, Chi’Lantro’s founder, Jae Kim, started the company as a food truck operation in 2010 with only one employee. The company is known for its signature dish, The Original Kimchi Fries™-- hot french fries with homemade caramelized kimchi, Korean BBQ, topped with fresh cilantro and onion, sesame seeds and drizzled with Magic Sauce. Chi’Lantro has expanded to six brick and mortars across Austin, a downtown trailer and a full-service catering department.
at milk + sugar, you won't find the classic flavors you've grown up with. they strive to give you a different and more modern approach to everyone's favorite dessert. milk + sugar specializes in fun "mix-ins" that they make in-house and fold into the ice cream as they churn it. think brownie chunks, pieces of cake, seasonal flavors and you've got the idea. come check them out, but PLEASE do not ask for vanilla. as they like to say, "life is too short for plain vanilla."
Welcome to Swish Dental, where seeing the dentist is something you actually look forward to. They are dedicated to helping you achieve your healthiest smile, delivering compassionate dental care and an extraordinary dental experience. Their goal as family dentists is to establish lifelong connections with their patients. They strive to create healthy smiles and change the way you think about seeing the dentist. At their dental practice, they are dedicated to preventing, diagnosing, and treating oral health issues. They prioritize your comfort, utilize the newest dental technology, and provide transparent patient care. At Swish, you'll receive comprehensive and non-judgmental dental services that are both exceptional and affordable. Get the smile you've always dreamed of. Their industry-leading treatment options, comprehensive insurance coverage, and flexible financing choices make it easier than ever to attain your healthiest and most confident smile.
Welcome to Top Care Emergency Room, where every moment counts, and your well-being is their top priority. With more than 20 years of experience, they have been at the forefront of providing exceptional emergency medical care to the community of Houston, Texas. At Top Care ER, they understand the critical importance of timely and expert interventions during medical emergencies, and their dedicated team is committed to ensuring that you receive the prompt, comprehensive, and compassionate care you deserve. Explore their commitment to excellence and discover why Top Care ER stands as a beacon of trust and reliability in emergency healthcare in Texas.
Each studio is a locally owned and operated franchise location. They offer 6 different class types from hot and powerful to slow and mindful. They also offer beginner classes and sculpt classes. Their teachers have been trained in the YogaSix methodology to provide a consistent but creative experience for each class type every time. They teach in a way that is easy for everyone to follow and understand. Their expert staff will help you find the right class to help you achieve your goals. YogaSix is a part of Xponential Fitness, a leading global franchisor of health and wellness brands across a variety of verticals, including pilates, barre, cycling, dance, yoga, boxing, strength training, stretching, and metabolic health.
TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
![]() |
Accommodation and Food Services | 99,999 SF | - | - | - | |
![]() |
Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | - | |
![]() |
Health Care and Social Assistance | 99,999 SF | - | - | Jan 0000 | |
![]() |
Health Care and Social Assistance | 99,999 SF | - | - | - | |
![]() |
Arts, Entertainment, and Recreation | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
ABOUT INNER LOOP/HEIGHTS
The Heights is located in one of Houston’s most historic neighborhoods and is home to rich and character-filled architecture, mom and pop-type shops, and hip restaurants. The Heights has seen a surge in new multifamily supply in recent years. As the area continues to gentrify, young professionals and families have been moving here. Some of Houston’s major highways either border or run directly through the area, including Texas State Highway 290, Interstate 610, Interstate 69, and Interstate 45, offering easy access to major employment nodes.
Retailers benefit from the area’s relatively high incomes. Median household incomes here are above $120,000 per year. The area’s strong consumer base has bolstered new construction activity, making the Heights even more attractive to new renters and homeowners. A number of new projects have come on line in the past several years, including new and redeveloped retail along White Oak Drive, Yale Street, Heights Boulevard, 19th Street, North Shepherd Drive, and North Durham Drive. Retailers here generally cater to local residents but also draw consumers from a wider trade area such as Houston’s suburbs.
DEMOGRAPHICS
Demographics
NEARBY AMENITIES
RESTAURANTS |
|||
---|---|---|---|
Popeyes Famous Fried Chicken | - | - | 6 min walk |
Flower Child | Burgers | - | 7 min walk |
Crawfish Cafe | - | - | 8 min walk |
Snooze an A.M. Eatery | - | - | 10 min walk |
Starbucks | Cafe | $ | 9 min walk |
Cane Rosso | Italian | $$ | 12 min walk |
Flying Fish | Seafood | $$$ | 12 min walk |
RETAIL |
||
---|---|---|
Ross Dress for Less | Other Retail | 6 min walk |
Farmers Insurance | Insurance | 6 min walk |
Great Clips | Salon/Barber/Spa | 6 min walk |
AT&T Wireless | Wireless Communications | 7 min walk |
My Eyelab | Optical | 9 min walk |
HOTELS |
|
---|---|
Courtyard |
147 rooms
6 min drive
|
Holiday Inn Express |
95 rooms
7 min drive
|
Hampton by Hilton |
126 rooms
6 min drive
|
Ascend Collection |
131 rooms
7 min drive
|
Sheraton Hotel |
382 rooms
8 min drive
|
PROPERTY TAXES
Parcel Number | 0391290000034 | Improvements Assessment | $1,052,076 CAD (2023) |
Land Assessment | $7,041,963 CAD (2023) | Total Assessment | $8,094,039 CAD (2023) |
SALE ADVISOR
Brent Fredricks, Senior Vice President
When it comes to single-tenant and multi-tenant retail properties, Brent had great mentors. In 1987, Brent worked as a Broker with H. Kerr Taylor, the Founder and CEO of AmREIT. Brent handled analysis and acquisitions of appropriate triple-net leased properties to be acquired by the American Asset Advisors Net Realty Funds, the predecessors of AmREIT. However, Brent’s passion for shopping centers began in 1989 at Hunington Properties, Inc. where he served for 10 years as Vice-President of brokerage and management services under the tutelage of Sandy P. Aron.
Brent formed Fredricks Commercial Brokerage, Inc. in 1998 which operated as a full-service brokerage company representing domestic and international corporations, institutions and individuals in the brokerage of shopping centers, single-tenant retail buildings, office buildings, industrial properties and raw land. In 2000, Brent acquired WQ Real Estate Services, Inc. and formed Fredricks Commercial Management, Inc. which provided property management, leasing and construction supervision services to Owners of shopping centers, single-tenant retail properties and office buildings.
Additionally, beginning in 2000, Brent was the Managing Partner of Mia Reed & Company, Ltd. which served as the general partner of the Mia Reed & Company Capital Fund partnerships. Over a period of six years, the partnerships invested in income producing real estate which included six shopping centers totaling over 650,000 square feet, five single-tenant net-leased retail buildings, one office building and one apartment complex.
Brent’s experience as a Broker, Manager and Owner of Investment Real Estate and Retail Properties gives him the ability to understand the perspectives and needs of both parties in the Real Estate Transaction. This specialized knowledge allows him to represent his Clients more effectively and helps close deals.