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30088960
30088961

4021 I-10 Frontage, Baytown, TX 77521

GB
TX 843004
Secure Net Lease
ML
TX TX 840834
Secure Net Lease
BM
TX 548333
Secure Net Lease
JC
TX 597891
Secure Net Lease
Listed by Secure Net Lease
$3,920,000
93 days on market
Updated 93 days ago

Black Bear Diner

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 4,987
Cap Rate 6.25%
NOI $245,000
Occupancy 100%
Tenancy Single
Brand/Tenant IHOP, Denny's (+5)
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 06/01/2039
Remaining Term 13
Rent Bumps Yes
Lease Options (4) 5-Year Renewal Options
Price per SqFt $786
Year Built 2024
Buildings 1
Stories 1
Acreage 1.117
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/01/2024

6.25% CAP | Brand New Construction

Marketing description

  • Brand New Construction, 15-Year Absolute NNN Corporate Lease with 10% Rental Increases Every 5 Years, In Primary Term & Option Periods, Plus (4), 5-Year Options to Renew.

  • Located on the NWC of Interstate 10 (93,000+ VPD) and John Martin Road (9,200+ VPD), Just 20 Miles East of Downtown Houston.

  • Conveniently Situated off of a Heavily-Trafficked Exit from I-10, Right Across from a Buc-ee's Convenience Store, and Next Door to Chick-fil-A and 7-Eleven.

  • Less than Half a Mile from San Jacinto Marketplace, a 1.1M+ SF Shopping Center Currently Under Development

Investment highlights

  • Brand New Construction, 15-Year Absolute NNN Corporate Lease with 10% Rental Increases Every 5 Years, In Primary Term & Option Periods, Plus (4), 5-Year Options to Renew.

  • Subject Property is Located on the NWC of Interstate 10 (93,000+ VPD) and John Martin Road (9,200+ VPD), just 20 miles east of Downtown Houston.

  • Conveniently Situated off of a Heavily-Trafficked Exit from I-10, right across from a Buc-ee's Convenience Store, next door to Chick-fil-A and 7-Eleven, and near H-E-B, Academy, Marshalls, Kroger, several car dealerships, and much more.

  • This Site is Less than Half a Mile from San Jacinto Marketplace, which is currently under development. This new 1.1M+ sq. ft. retail, entertainment, and dining center is replacing the San Jacinto Mall and is set to cover 105 acres.

  • This Area Benefits from the Strong Demographics and High Spending Power. There are 96,316 residents living within a 5-mile radius, which is estimated to reach 103,000+ by 2028, and an average household income of $91,087.

  • Baytown, Texas is Located in the Houston-Sugar Land-Baytown Metropolitan Area. It is the 4th largest city in the MSA and is close to Houston and the Galveston Bay area, giving residents easy access to both big-city amenities and coastal attractions.

  • Known for Its Breakfast and Lunch Offerings but also Serving Dinner, Black Bear Diner has 156 Locations Open. They have 14 new restaurants planned for 2024 and have set their sights on becoming a national brand.

Listing Contacts

GB
TX 843004
Secure Net Lease
ML
TX TX 840834
Secure Net Lease
BM
TX 548333
Secure Net Lease
JC
TX 597891
Secure Net Lease
Listed by Secure Net Lease

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$245,000.00
$20,416.67/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

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Additional Information

Name
Garrison Berkley
License
843004
Brokerage
Secure Net Lease
Brokerage Phone
214-522-7200
Title
Broker Associate
Name
Morgan LeCorgne
License
TX 840834
Brokerage
Secure Net Lease
Brokerage Phone
2144447878
Title
Broker Associate
Brokerage Address
10000 North Central Expressway
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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