Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Dallas McKinney
$2,710,000
Chili's Grill & Bar: Willis, TX
Details
Property Type Retail
Sub Type Restaurant
Square Footage 5,136
Cap Rate 5.35%
NOI $145,000
Occupancy 100%
Tenancy Single
Brand/Tenant Chili's
Lease Term 10.1
Lease Expiration 06/30/2035
Remaining Term 9.1
Rent Bumps Yes
Lease Options Four, 5-Year Options
Year Built 2025
Acreage 1.370
Parking Spaces 103 spaces
Parking Per SqFt 20.05
Investment Type Net Lease
Lease Commencement 06/12/2025
Ground Lease Yes
Brand New Construction Chili's Grill & Bar | ±9.2-Year NNN Ground Lease | Houston MSA
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the ±9.2-year NNN Chili's Grill & Bar ground lease situated on 1.37 acres in Willis, Texas—part of the broader Houston-Pasadena- The Woodlands, TX MSA (Population: 7.62M+). Commenced in June 2025, the 5,136-square-foot Chili's features a 10% rent increase in year 6 and in each of the four, 5-year renewal options.
Investment highlights
- Brand New 10-Year NNN Ground Lease: Commenced June 2025, Chili's NNN ground lease features ±9.2 years of term with a 10% rent increase in year 6 and in each of the four, 5-year renewal options. Chili's Grill & Bar is a brand-new construction that opened for business on June 12, 2025.
- Excellent Access & Visibility Along I-45: Located approximately 50 miles north of downtown Houston, the property has excellent access and visibility along North Freeway Service Road, just feet from its intersection with FM 1097 (26,219 VPD) and the on-ramp to Interstate 45 North (100,457 VPD), which provides direct access to both Houston and Dallas.
- Within the Brand New 5.58-Acre ‘Plazas At Willis': Chili's is part of the larger 5.58-acre 'Plazas at Willis' mixed-use development currently under construction. Other featured tenants in the center include Chipotle Mexican Grill, LightPoint Engineering, LLC and a future outpad user.
- Strategic Location | Surrounded by Retail Powerhouses: Chili's is immediately surrounded by several retail powerhouses, including Willis Town Center (79,340 SF), Sam Houston Town Center (238,344 SF), and The Market at Willis (200,000+ SF)—a new retail development that is well underway. Together, these developments feature tenants like Kroger Marketplace, H-E-B, Ross, Burlington, Tractor Supply, Goodwill, Five Below, Walgreens, First Watch, Schlotzsky’s, McAlister’s Deli, Willis Urgent Care, Whataburger, Panda Express, Little Caesars Pizza, Dutch Brothers Coffee, MOD Pizza, WingStop, Chase Bank and T-Mobile, to name a few. According to Placer.ai, the developments have welcomed more than 1.1M visitors across 8.1M visits over the past 12 months.
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Dallas McKinney
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,000.00
$12,083.33/mo
Valuation Metrics
0
DSCR
5.35%
Cap Rate
5.35%
ROI
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