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33446146
33446147

888 West Bay Area Boulevard, Webster, TX 77598

JB
TX 688810
Matthews
DF
TX 826741
Matthews
BB
TX 701324
Matthews
Listed by Matthews
$5,385,800
4 days on market
Updated 4 days ago

Red Lobster | Houston TX | 13+ Years Remaining

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 7,835
Cap Rate 6%
NOI $323,148
Occupancy 100%
Tenancy Single
Brand/Tenant Red Lobster
Lease Type Absolute NNN
Lease Term 23
Lease Expiration 10/31/2039
Remaining Term 13.4
Rent Bumps Yes
Lease Options Four, 5-Year
Broker Co-Op True
Year Built 2001
Acreage 2.230
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/18/2016
Ground Lease No
Ownership Fee Simple

ABS NNN | Booming Nearby Development | 5-Mile POP. 192,000

Investment highlights

Passive Investment Opportunity – ±13.75 years remaining on an ABS NNN lease with Red Lobster

Attractive Annual Rental Increases – 2.00% rental increases annually.

Densely Populated Area – ±82,000 in a 3-mile radius, ±192,000 in a 5-mile radius, ±630,000 in a 10-mile radius.

Location and Accessibility – Excellent visibility with high traffic counts on W Bay Area Blvd exceeding ±37,300 vehicles per day (VPD) and close proximity to I-45, which sees ±127,000 VPD. This major highway is the critical artery connecting Dallas to Houston, ensuring high accessibility and customer flow.

Booming Developmental Growth – Significant developments include the Sunset Amphitheater Houston, a $150 million, 34-acre, 12,500 seat amphitheater and hotel project; a planned IKEA opening in summer 2026; and the Midline Development, a master-planned community with over 2,800 homes, etc.

Affluent Area in Houston – The area boasts a high average household income, exceeding $113,000 within a 5-mile radius.

Incredible Retail Synergy – The location benefits from proximity to the Baybrook Mall, a regional supermall with over 200 retailers, and other major shopping centers anchored by national credit tenants such as Costco, Target, Chick-fil-a, Olive Garden, Raising Cane’s, Starbucks, and Chipotle.

Growing Houston Market – Houston is the 5th Largest MSA in the United States, boasting a population over 7.8 million. In addition to being one of the nation’s fastest-growing metros, the continued growth outlook enhances the investment’s long-term potential.

Income Tax-Free State – Texas is an income tax-free state, offering advantageous conditions for investors seeking tax-efficient opportunities.

Listing Contacts

JB
TX 688810
Matthews
DF
TX 826741
Matthews
BB
TX 701324
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$323,148.00
$26,929.00/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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Additional Information

Name
Josh Bishop
License
688810
Name
Dylan Freeney
License
826741
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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