/* Shoppes at San Felipe — Hero, Snapshot, Property */ const { useState: uS, useEffect: uE, useRef: uR, useMemo: uM } = React; /* ============================= HERO ============================= */ function Hero({ onCTA }){ const [ref, inView] = useInView({threshold:0.1}); return
Off-Market · Confidential · Spring 2026

Buying 61,196 SF
of Houston retail
below land value.

An off-market acquisition of the Shoppes at San Felipe — a 4.54-acre, 95.2% leased retail center at the NEC of San Felipe & S. Voss — at a basis that matches 2019 raw-land comps on the same block. Ten-year hold, land-sale exit.

Request investor package → { const el = document.getElementById('thesis'); if(el) window.scrollTo({top: el.offsetTop-60, behavior:'smooth'}); }}>Read the thesis
10 yr}/>
Aerial — Shoppes at San Felipe
N 29.7571° W 95.5218°
Houston, TX 77057 · 4.54 acres
; } /* =========================== SNAPSHOT =========================== */ function Snapshot(){ const [ref, inView] = useInView(); const summary = [ ['Purchase Price', '$31,750,000'], ['Total Basis', '$32,500,000'], ['Going-In Cap', '5.81%'], ['Year 1 NOI', '$1,845,794'], ['LP Equity', '$13,000,000'], ['Senior Debt (60% LTV)', '$19,500,000'], ['Rate', '5.50%'], ['Structure', '2-Yr IO / 30-Yr Amort'], ]; const exit = [ ['Land Sale (197,762 SF × $300)', '$59,328,600'], ['Loan Payoff', '($20,319,553)'], ['Disposition Costs (2.0%)', '($1,186,572)'], ['Net Proceeds to Equity', '$37,822,475'], ['+ Operating CF + Yr 5 Refi', '$10,181,973'], ['Total Project Distributions', '$48,004,448'], ['LP Total Distributions', '$40,353,557'], ['Avg Cash-on-Cash (10yr)', '7.8%'], ]; return
{[ ['Project IRR', '16.4%'], ['Project Multiple', '3.69×'], ['LP IRR (Net)', '14.0%'], ['LP Multiple', '3.10×'], ['Annual Cash Yield', '4.7–8.0%'], ].map(([l,v],i)=>(
{l}
{v}
))}
Investment Summary
{summary.map(([k,v])=>(
{k} {v}
))}
Year 10 Exit — Land Sale
{exit.map(([k,v])=>(
{k} {v}
))}
; } /* =========================== PROPERTY =========================== */ function Property(){ const [tab, setTab] = uS('photos'); return

21 tenants. 95.2% leased.
4.54 acres at a hard corner.

The Shoppes at San Felipe occupy the northeast corner of San Felipe Street and S. Voss Road in the heart of Houston's Inner Loop corridor — anchored by Wild Fork Foods, with a CVS Pharmacy on ground lease and a complementary mix of service, F&B, and specialty retail tenants.

{[ ['Gross leasable area', '61,196 SF'], ['Land area', '4.54 acres'], ['Occupancy', '95.2%'], ['Tenants', '21'], ['WALT', '5.77 yrs'], ['Year 1 NOI', '$1.85M'], ['Ground lease', 'CVS Pharmacy'], ].map(([k,v])=>(
{k}
{v}
))}
{[['photos','Photography'],['siteplan','Site plan'],['map','Location']].map(([k,l])=>( ))}
{tab==='photos' && (
)} {tab==='siteplan' && (
Site plan
Tenant breakdown
{[ ['Wild Fork Foods', '18,400 SF', 'Specialty grocer'], ['CVS Pharmacy', 'Ground Lease', '$385K / yr'], ['East Wing tenants', '14 shops', 'Varied'], ['North Wing tenants', '5 shops', 'F&B / Service'], ['Available', '2,935 SF', '4.8% vacant'], ].map(([t,sf,note])=>(
{t}
{note}
{sf}
))}
Upside
4.54-acre parcel supports 2–3 outparcel pads along San Felipe — $200–400K incremental NOI, additive to exit land value.
)} {tab==='map' && (