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33514082
33514081

7728 Lockwood Dr, Houston, TX 77016

JB
TX 688810
Matthews
SL
TX 790608
Matthews
Listed by Matthews
$1,989,867
2 days on market
Updated 2 days ago

Dollar General | Houston, TX | ABS NNN

Details
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food (+1)
Square Footage 9,100
Cap Rate 6.75%
NOI $134,316
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree (+1)
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 09/30/2029
Remaining Term 3.3
Rent Bumps Yes
Lease Options Two, 5-Year Options Remaining
Class B
Year Built 2009
Acreage 2.110
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 09/30/2009
Ground Lease No

5-mile population in excess of 268,845 | Recently exercised option

Marketing description

Dollar General is the fastest-growing retailer which currently boasts roughly 21,000 neighborhood general stores in 48 US states, primarily in the South, East, Midwest, and the Southwest. Roughly 79.7% of Dollar General's sales are derived from consumables (including refrigerated, shelf-stable, and perishable foods,) in addition to everyday household items such as paper towels, bath tissues, paper dinnerware, laundry, and home cleaning supplies. Dollar General offers some of America's most trusted name brands such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Nestle, Kimberly-Clark, Kellogg's, General Mills, Pepsi, and many others.

Houston is anchored by its energy sector--particularly oil and natural gas--while also maintaining substantial presence in healthcare, biomedical research, and aerospace. Tourism and culture feature prominently with destinations such as the Museum District, Theater District, Johnson Space Center, Houston Zoo, and vibrant culinary and arts scenes. The Houston Livestock Show and Rodeo continues to be one of the area's highest-impact recurring events.

The city benefits from exceptional transportation infrastructure, including Interstate corridors, Port Houston (the top U.S. port by international tonnage), and two major airports--Bush Intercontinental (48 million passengers in 2024) and Hobby--supporting both regional and global connectivity. Education and research are led by institutions like the Texas Medical Center, the world's largest medical complex, and several top-tier universities. A growing emphasis on career pathways also includes apprenticeship programs tied to trades and industry.

Investment highlights

  • 2009 Built to Suit Construction for Dollar General
  • Dollar General recently exercised their first option, proving their commitment to the site
  • 5-mile population in excess of 268,845 residents
  • 10-mile population in excess of 1,138,638 residents
  • Texas is an income tax-free state
  • Extremely strong corporately guaranteed lease
  • Houston is the 5th largest MSA in the country
  • This location ranks in the top 24% and 18% of all Dollar Generals in Texas and nationwide respectively (*According to Placer.AI)
  • Dollar General boasts an investment grade credit rating of BBB (S&P)
  • Dollar General has ±21,000 locations and plans to continue their expansion for the foreseeable future
  • Dollar General has been considered an essential retailer and has proven to be one of the most profitable companies through the COVID-19 pandemic
  • Dollar General has a market cap of ±$30 billion

Listing Contacts

JB
TX 688810
Matthews
SL
TX 790608
Matthews
Listed by Matthews

Valuation Calculator

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$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$134,316.00
$11,193.00/mo

Valuation Metrics

0
DSCR
6.75%
Cap Rate
6.75%
ROI

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Additional Information

Name
Patrick Graham
License
9005919
Title
Broker of Record
Name
Josh Bishop
License
688810
Name
Scotty Latimer
License
790608
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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