Slim Chickens Houston, Texas

$2,790,000
Cap Rate: 6.45%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.45%
Price: $2,790,000
Annual Rent: $180,000
Rent/Square Foot: $68.89
Building Size: 2,613 SF
Lot Size: +/- 1.30 Acres
Year Built: 2017
Lease Type: NNN
Lease Term: 15 Years
Commencement: Upon Close of Escrow
Lease Expiration: 15 Years from COE

9850 Louetta Road
Houston, TX 77070

Investment Highlights

  • Brand New Construction Equipped with a Drive-Thru
  • 15-Year Absolute Triple Net (NNN) Sale Leaseback; Passive Investment Offering a Long-Term Security of Cash Flow
  • Attractive Rental Increases of 1.75% Annually, Beginning in Year 6
  • Three, Five-Year Renewal Options
  • Franchisee Location; Long-Term Commitment to the Site

 

Investment Overview

Slim Chickens offers a brand new 15-year absolute triple-net lease with zero landlord responsibilities commencing upon the close of escrow. There are three tenant renewal periods of five years each with attractive rental increases of 1.75% annually, beginning in year six. Slim Chickens is a brand new 2017 construction, opening soon!

The subject property is well -positioned in a highly dense retail corridor consisting of shopping centers, national and local tenants, medical centers, and hotels all within a mile and a half of this Slim Chickens. Major national and local tenants in the area include Target, Home Depot, Walgreens, HEB Texas Grocery, Aldi, Whole Foods, Wells Fargo, and many others. First Texas Hospital, HealthSouth Rehabilitation Hospital, and CHI The Vintage Hospital are all within a two-mile radius of this Slim Chickens. The subject property benefits from the many hotels nearby. Accommodations in the immediate area include Courtyard Marriott, Comfort Suites, TownePlace Suites, and Element Houston. Lone Star College, University of Houston Downtown, and the University of Houston are all located two miles from the subject property. The schools have an approximate combined enrollment of 59,366 students. This Slim Chickens also benefits from being one -mile east of Vintage Park Shopping Village. Vintage Park is a lifestyle shopping center consisting of sixteen buildings with pedestrian-friendly walkways and convenient public parking. The Vintage has become one of Houston’s most exciting master planned mixed-use developments in Houston’s history. In addition to Vintage Park, the announced projects to date contain 537,000 square feet of retail/office space, over 1,600 upscale residences, two apartment communities, a 123 -room hotel as well as the St. Luke’s and Kelsey Seybold medical campus.

Slim Chickens is situated on Louetta Road which achieves average daily traffic counts over 39,139 vehicles. Intersecting with Louetta Road is Tomball Parkway, which brings in an additional 152,949 vehicles to the area. There are approximately 100,169 people within a three-mile radius and 257,147 people within a five-mile radius.

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