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17240 STATE HIGHWAY 249 Houston TX 77064-1106

[Locked] • APN 1157820010086

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Details
Property Type Retail
Sub Type Restaurant
Building SqFt 8,054
Lot SqFt 66,937
Acreage ******
Sold Date ******
Sold Price ******
Sold Price/SqFt ******
Zoning Code NZ
Year Built 1998
Building Count 1
Opportunity Zone No
Sale NOI ******
Sale Cap Rate ******
Lease Type ******
Lease Term ******

Property History

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Property Type
Property Type
Retail
Property Subtype
Restaurant
Marketing Description
Located on the busy intersection of Hwy 249 and N Gessner Rd. Adjacent to Willowbrook Mall. Second generation former restaurant.

Investment Highlights
  • Second generation former Sweet Tomatoes with 122 parking spaces
  • Adjacent to Willowbrook Mall
  • Located on the busy intersection of Hwy 249 and N Gessner Rd.
  • In a robust demographic submarket with a need for restaurants
Property Type
Property Type
Retail
Property Subtype
Restaurant
Asking Details
Asking Cap Rate
******
Marketing Description

Investment Highlights
  • Brand-New 15 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Three (3) Additional (5-Year) Options to Renew

  • 10% Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation

  • Dimassi’s Mediterranean Buffet is a Best in Class, Leading Fast-Casual Tenant Founded in 1992 That Operates More Than 20 Locations in the State of Texas

  • Relocation Store – 5+ Years Successful Operating History Across Tomball Pkwy (TX-249) – Repositioned as a Pad to Willowbrook Mall on a Larger Parcel & Bigger Building, Providing Better Convenience & Accessibility for Their Customers on a More Heavily Trafficked Side of the Street

  • Intrinsic Value – Large Format Restaurant at 8,054 Square Feet on a Massive 1.691 Acre Parcel Containing 108 Parking Spaces, Providing Dimassi’s with the Ability to Effectively Handle High Restaurant Volume

  • Strategically Positioned as a Pad to Willowbrook Mall – The 1.5+ Million Square Feet, Macy’s Anchored Shopping Mall That Brings Daily-Needs Consumers Directly to the Trade Area – More Than 6.5 Million Visits Over the Last Calendar Year

  • High Traffic Location – Over 188,500 Vehicles Per Day on Tomball Pkwy (TX-249), Nearly 82,000 Vehicles Per Day on Cypress Creek Pkwy (FM-1960) & an Additional 9,684 Vehicles Per Day on N. Gessner Dr

  • Densely Populated, Infill Location with Excellent Demographics – Over 313,500 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $97,000

  • Over 52.7 Million Square Feet of Industrial & Office Space and 26.6 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property

  • Extremely High Daytime Population of More Than 17,000 Businesses & Over 149,500 Employees

  • Located Directly Across from the 370,000+ Square Foot, REI Anchored Willowbrook Shopping Center That Has Seen More Than 970,000 Visits Over the Prior Calendar Year

  • Approximately 1.1 Miles from the 346 Bed Houston Methodist Willowbrook Hospital That Employs Over 2,232 Staff Members & 1,116 Affiliated Physicians & Generated More Than $3.45 Billion in Total Patient Revenue in 2021

  • Tremendous Multi-Family Density with Over 37,000 Apartment Units in a 5-Mile Radius of the Property

  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset

Loan History

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Financial History

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****** Data
Net Operating Income
******
Reporting Date
******

Tax History

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Contact Information

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Ownership Information

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Property Details

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There are no additional details for this property

Contacts

Listing removed on
 BY:
MB
Michael Burgower PRO
•••.•••.1700
•••••••.••••ower@••••••••.com
Brokerage logo
Listing removed on
 BY:
EL
ERIC LESTIN
•••.•••.1783
•••••.last@••••••••.com
Brokerage logo
Sold on
 BY:
RB
Randy Bell PRO
•••.•••.3670
bell@••••••••••••••••••••••.com
Brokerage logo
Sold on
 BY:
CB
Chadd Bossow
•••.•••.3674
••ssow@••••••••••••••••••••••.com
Brokerage logo
Sold on
 BY:
RK
Russ Kimzey
•••.•••.3675
russ@••••••••••••••••••••••.com

Map

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