Fairmont Junction — Sale in Pasadena, TX
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Pasadena, TX 77504
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Description
Marcus & Millichap is pleased to present Fairmont Junction, a 116,898-square-foot, ethnic grocery-anchored community shopping center strategically positioned at the signalized intersection of Fairmont Parkway and South Shaver Street in Pasadena, Texas. The property is anchored by the 42,130-square-foot El Rancho Supermercado, a leading Hispanic-focused grocer that is highly complementary to the surrounding trade area’s predominantly Hispanic population. El Rancho is supported by national discount retailers Family Dollar and Dollar Tree and a diverse mix of medical, dental, restaurant and service-oriented tenants, including Oak Street Health, Adventure Smiles Dental, HCA Women’s Care Center and Sterling Banquet Hall. Currently 82 percent occupied, Fairmont Junction combines an established grocery-anchored income stream with multiple avenues for future value creation. Approximately 20,855 square feet of existing vacancy provides meaningful lease-up potential across a range of suite sizes, while an included pad site along the property’s prominent frontage provides an additional development or monetization opportunity. Investment Highlights: • DOMINANT ETHNIC GROCERY ANCHOR • DEMOGRAPHICALLY ALIGNED & DIVERSE TENANT MIX • SIGNIFICANT VALUE-ADD OPPORTUNITY • SIGNALIZED HARD-CORNER LOCATION • INCLUDED PAD SITE | ADDITIONAL UPSIDE
Market Context
This retail in Pasadena, TX is listed for sale. Compare it against other retail listings for sale in Pasadena, TX — view the full market.
As of Q1 2026, the Houston retail market showed a 5.5% vacancy rate, average asking rents near $21.28/SF/yr, rents up 2.5% year over year, and cap rates around 7.5%. Source: multiple brokerage reports, Q1 2026.
Rising rents point to a competitive market where well-priced, well-located assets trade quickly.
Retail market FAQ
- What is the typical cap rate for retail in Houston?
- About 7.5% as of Q1 2026, per multiple brokerage reports.
- Is the Houston retail market tightening or softening?
- Vacancy is around 5.5%, with asking rents rising year over year (Q1 2026).
Contact
- Philip Levy · (972) 755-5225 · philip.levy@marcusmillichap.com
- Duke Dennis · (817) 932-6172 · duke.dennis@marcusmillichap.com
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