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22228490
22228491

3136 Cypress Creek Pkwy, Houston, TX 77068 For Sale

AM
TX 0606255, CA 01391653
Marcus & Millichap - San Diego
CT
CA 303918
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego
$2,971,429
500 days on market
Updated 109 days ago

POPEYES w/ DR-THRU | 20 YEAR NNN GROUND SALE LEASEBACK

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 3,000
Cap Rate 5.25%
NOI $156,000
Tenancy Single
Brand/Tenant Chick-fil-A, Popeyes (+2)
Lease Type Absolute NNN
Lease Term 20
Rent Bumps Yes
Price per SqFt $990
Class A
Year Built 2013
Year Renovated 2021
Acreage 1.230
Investment Type Net Lease
Tenant Credit Franchisee
Ground Lease Yes

Retail | 5.25% CAP | 3,000 SF

Marketing description

PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:

https://themansourgroup.com/properties/309560/popeyes-w-drive-thru

Investment highlights

  • 20 Year Absolute Net Ground Sale Leaseback Featuring 7.5% Rental Increases Every 5 Years throughout the Initial Term & Options. 2021 Renovation to the New Prototype Look. Features a Drive-Thru.

  • Positioned Along Area’s Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 47k Vehicles.

  • Densely Populated and Affluent Area: Features an Average Household Income of more than $87k within a 1-Mile Radius and over 321k People Residing within a 5-Mile Radius.

  • Adjacent to a CVS Pharmacy and Near Numerous other National Retailers Including The Home Depot, Walmart Supercenter, ALDI, Sun’s Wholesale, Walgreens, Hobby Lobby, Big Lots and many more.

  • The Walmart Supercenter down the Street is Ranked Top 3% in the Chain Nationwide as the Most-Visited Location (3.81M+ Annual Visitors according to Placer.AI)

  • In Close Proximity to Numerous Schools, providing for an Increased Potential Customer Base due to the Daily Commute of Parents, Students, and Teachers.

Listing Contacts

AM
TX 0606255, CA 01391653
Marcus & Millichap - San Diego
CT
CA 303918
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$156,000.00
$13,000.00/mo

Valuation Metrics

0
DSCR
5.25%
Cap Rate
5.25%
ROI

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