Listed by The Blue Ox Group
$3,342,000
Gordon Restaurant Market
Details
Property Type Retail
Sub Type Restaurant
Square Footage 27,115
Cap Rate 6.75%
Lease Type Absolute NNN
Lease Term 10
Lease Options 3, 5-year options.
Year Built 1950
Lot Size (SqFt) 128,907
Retail | 6.75% CAP | 27,115 SqFt
Marketing description
Gordon Restaurant Market is a NNN investment opportunity located at the NEC of Griggs Rd & Cullen Blvd in Houston, Texas. The tenant recently signed a long-term, 10 year lease with 3, 5-year options to extend, demonstrating their commitment to the site. The tenant is currently in their 3rd term. The lease features annual rental increases throughout the initial term and option period. This attractive rent structure and steadily growing NOI hedges against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment for the passive investor.
Investment highlights
- Long term, Absolute NNN Lease: 10-year base lease term with no landlord responsibilities.
- Annual Rental Escalations: Rent increases every year during the initial 10-year base lease term and the 3, 5-year options.
- Signalized intersection: Gordon Restaurant Market is ideally positioned at the signalized intersection of Griggs Rd and Cullen Blvd.
- Incredible Visibility and Access: Gordon Restaurant Market has incredible visibility along Griggs Rd, Cullen Blvd and Old Spanish Trail with exposure to over 50,000 cars per day. Ease of access in and around the Property is provided by an abundance of ingress/egress points: two (2) along Cullen Blvd, two (2) along Weingarten St and one (1) along Griggs Rd.
- Easy Access to Major Highways: The Property is strategically located at the intersection of Griggs Rd & Cullen Blvd with easy access to several major highways in the Houston MSA including: US-90 ALT, Highway 288, Loop 610 and Interstate 45.
Listing Contacts
Listed by The Blue Ox Group
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