Listed by Zann Commercial Brokerage, Inc.
$5,000,000
Palms Event Center
Details
Property Type Retail, Special Purpose
Sub Type Bar, Restaurant
Square Footage 10,780
Cap Rate 7.20%
NOI $360,000
Tenancy Single
Brand/Tenant D'Gala Event Centers
Lease Type NNN
Lease Term 5
Lease Expiration 12/31/2026
Remaining Term 0.5
Rent Bumps Yes
Year Built 1996
Acreage 1.632
Parking Spaces 135 spaces
Parking Per SqFt 12.52
Lease Commencement 01/01/2022
Retail | 7.20% CAP | 10,780 SF
Marketing description
The subject property is leased to D'Gala Event Centers, one of Houston's premier wedding and event venues, with six existing locations and one under construction. The building includes a fully fixtured kitchen, upscale interior finishes, access to 135 parking spaces, and pylon signage visible to the more than 124,000 vehicles that travel along the Gulf Freeway each day. Please contact listing brokers for more information.
Investment highlights
- Building Area: c SF
- Land Area: 1.632 Acres
Listing Contacts
Listed by Zann Commercial Brokerage, Inc.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$360,000.00
$30,000.00/mo
Valuation Metrics
0
DSCR
7.2%
Cap Rate
7.2%
ROI
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