Available For Sale - Retail

4,930 SF | Show Pricing $

AVAILABILITY DETAILS

Size
4,930 SF
Price/SF
Show Pricing $
Listing ID
SA437216
Notes
Cap Rate 8.5%

NOI $234,676.24

Building Size 4,930 sqft

Lot Area 45,381 sqft

Lease Type Absolute Net

Year Built 2004

Parking Spots 67



DESCRIPTION

• Absolute NNN Lease – The lease is triple net, with zero landlord responsibilities. Tenant is responsible for maintaining, repairing, and replacing all aspects of the building and property, as well as all required insurances, taxes, and utilities.



• Significant Lack of Nearby Competition – Only IHOP within a 10 mile radius, serving a population of approximately 265,000 inhabitants.



• Available Option Periods and Annual Rent Increases – The lease provides for 1.25% annual rent increases during the initial term and option periods. This hedges a buyer’s investment against inflation.



• Strategic Transit Location – The property is located within a major transit corridor directly off the Interstate 45 Highway connecting Galveston and Texas City to the Greater Houston Metropolitan Area.



• Excellent Retail Fundamentals – The subject is an outparcel to a Walmart Supercenter as well as a Sam’s Club.



• Guarantee from One of the Largest IHOP Operators – The lease is guaranteed by Argonne Capital Group (www.argonnecapital.com), one of the largest IHOP operators in the United States with nearly 300 restaurants across Texas, Florida, and Utah.



• Regional Draw – Located directly off the 45 Highway (69,000+ CPD) within immediate proximity to the racing track Gulf Greyhound Park, supporting 24 hour operation at the IHOP.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Alex Kozakov, CBRE