Taco Bell
Long-term absolute NNN Taco Bell ground lease in Houston
Marketing description
A long-standing Taco Bell with 32-year operating history, situated in Houston’s Galleria corridor and surrounded by 229,185 residents within a 3-mile radius.
The original lease was executed in 1993 and most recently amended with a new 20-year term commencing in 2019 featuring 10% rent increases every 5 years for the remainder of the base term.
The property is positioned along Richmond Ave (38,446 VPD), the site provides convenient access to both Interstate 69 and Interstate 10. The property sits 1.5 miles from the Houston Galleria, Texas’ largest mall at 2.4M SF and within 5 miles of three Fortune 500 HQs, including Westlake (1 mile), Phillips 66 (2.5 miles), and ConocoPhillips (5 miles). It also benefits from average household incomes of $148,492 within a 3-mile radius and its proximity to Houston’s Energy Corridor further strengthens the trade area.
Investment highlights
- Absolute NNN ground lease – zero Landlord maintenance or expense responsibilities
- 10% rent increases every 5 years in the remaining base term with the next occurring March 2029
- Taco Bell opened at this location in 1994, providing a long-term customer base for over 30 years of its operation
- Large & established operator: MAS Restaurant Group operates 75+ locations across the Houston MSA and Ohio
- Taco Bell reported an 8% increase in same store sales in Q1 2026, driven in part by a 3% increase in customer transactions
- Positioned along Richmond Ave (38,446 VPD), with direct access to Interstate 69 (295,822 VPD) via Fountain View Drive and Interstate 10 (217,486 VPD) via Chimney Rock Road (traffic counts per CoStar)
- 1.5 miles from the Houston Galleria — Texas’ largest mall at 2.4 million square feet with 400+ retailers
- Simon Property Group is executing a multi-million dollar Galleria renovation, including updated facades, 155,000 SF of new flooring, and luxury tenant expansions (Gucci, Fendi, Saint Laurent)
- Situated proximate to the Energy Corridor — home to the highest concentration of energy companies in the Western Hemisphere
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