Listed by CP Partners, ParaSell Inc
$5,026,000
Pep Boys
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 14,380
Cap Rate 7%
NOI $351,820
Occupancy 100%
Tenancy Single
Rent Bumps Yes
Acreage 1.500
Parking Spaces 60 spaces
Parking per 1,000 SqFt 4.17
Investment Type Net Lease
Ground Lease No
Longstanding Corporate Location in a Rapidly Expanding Houston Suburb
Marketing description
A corporate Pep Boys with 10% rental increases in each of the renewal options. The subject property is positioned on a dense retail corridor with high visibility and immediate access to Hwy 6 (43,340 VPD).
Investment highlights
- 15-year corporate lease featuring three, 5-year renewal options
- 10% rental increases in each renewal option
- Tenant has successfully operated at the site for 9+ years through multiple economic cycles
- Supply-constrained submarket, with high barriers to entry for sites featuring access and visibility along Hwy 6
- Hwy 6 location with direct exposure to 43,000+ vehicles per day
- Dynamic retail corridor serves both Sugar Land and Missouri City markets
- Excellent demographics: 20,000+ people with average household incomes of over $87,000 in a 1-mile radius
- Major housing developments in the immediate vicinity include: Marquis at Sugar Land (312 units), Provisions at Four Corners (131 units), Townewest, Sugar Grove and Woodbridge Estates
- Neighboring retailers include: Home Depot, Aldi, Whataburger, CVS, Crash Champions
Listing Contacts
Listed by CP Partners, ParaSell Inc
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$351,820.00
$29,318.33/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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