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Restaurant

Popeyes w/ Drive Thru | Houston MSA | 20 Year Absolute Net Ground Sale Leaseback | Near I-45

905 1/2 W Davis St, Conroe (Houston MSA), TX 77301

Listing Price: $3,640,000

Cap Rate
3.75%
Tenant Name
Popeyes Chicken
Years Remaining On Lease
20.2
Gross SF
2,407
Guarantor
Franchisee Guarantee
Rentable SF
2,407
Price/Gross SF
$1,512.26
Lease Type
NNN Ground Lease
Rent Per Square Feet
$56.71

Investment Overview

Conroe is a city in and the county seat of Montgomery County, Texas, at about 40 miles north of Houston. It is a principal city in the Houston–The Woodlands–Sugar Land metropolitan area. As of 2021, the population was 98,081, up from 56,207 in 2010. According to the Census Bureau, Conroe was the fastest-growing large city in the United States between July 1, 2015, and July 1, 2016. Greater Houston has the seventh-highest metropolitan-area gross domestic product in the United States, valued at $490 billion in 2017. A major trade center anchored by the Port of Houston, Houston–The Woodlands–Sugar Land has the highest trade export value of all metropolitan areas, at over $120 billion in 2018, accounting for 42% of the total exports of Texas. As of 2021, Greater Houston is home to the headquarters of 24 Fortune 500 companies, ranking third among all metropolitan statistical areas. The Greater Houston metropolitan area was ranked the fourth-most diverse metropolitan area in the United States in 2012.

Investment Highlights

  • 20 Year Absolute Net Ground Sale Leaseback Featuring 7.5% Rental Increases Every 5 Years throughout the Initial Term & Options. Tenant will Tear Down Building to Construct Brand New Prototype.
  • Positioned Along Area's Major Traffic & Retail Corridor - Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 23k Vehicles. Immediate Access to/from I-45 (126k+ VPD).
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $91k and over 97k People Residing within a 5-Mile Radius. Located Just North of The Woodlands: The Most Prosperou
  • Near Numerous National Retailers Including The Home Depot, Target, Walmart Supercenter, Sam's Club, Lowe's, Kroger, Hobby lobby, Best Buy, Walgreens and more.
  • Minutes from Conroe Regional Medical Center - a 342-Bed Medical Center serving Montgomery County with more than 1,200 Staff and 400+ Physicians Currently Employed.
  • A Short Drive from Conroe-North Houston Regional Airport - a Public-Use Airport with 63k+ Aircraft Operations Annually. The U.S. Army also maintains a Base at the Airport.
  • Immediate Area Experiencing Major Growth: Conroe has been Ranked Among the Nation's Fastest-Growing Places in the Most Recent Years.
  • In Close Proximity to Conroe Highschool, providing for an Increased Potential Customer Base due to the Daily Commute of Parents, Students, and Teachers.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s) TX: 0606255

    Texas

Financing By

Restaurant

Popeyes w/ Drive Thru | Houston MSA | 20 Year Absolute Net Ground Sale Leaseback | Near I-45

Listing Price: $3,640,000

Cap Rate
3.75%
Tenant Name
Popeyes Chicken
Years Remaining On Lease
20.2
Gross SF
2,407
Guarantor
Franchisee Guarantee
Rentable SF
2,407
Price/Gross SF
$1,512.26
Lease Type
NNN Ground Lease
Rent Per Square Feet
$56.71

Investment Highlights

  • 20 Year Absolute Net Ground Sale Leaseback Featuring 7.5% Rental Increases Every 5 Years throughout the Initial Term & Options. Tenant will Tear Down Building to Construct Brand New Prototype.
  • Positioned Along Area's Major Traffic & Retail Corridor - Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 23k Vehicles. Immediate Access to/from I-45 (126k+ VPD).
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $91k and over 97k People Residing within a 5-Mile Radius. Located Just North of The Woodlands: The Most Prosperou
  • Near Numerous National Retailers Including The Home Depot, Target, Walmart Supercenter, Sam's Club, Lowe's, Kroger, Hobby lobby, Best Buy, Walgreens and more.
  • Minutes from Conroe Regional Medical Center - a 342-Bed Medical Center serving Montgomery County with more than 1,200 Staff and 400+ Physicians Currently Employed.
  • A Short Drive from Conroe-North Houston Regional Airport - a Public-Use Airport with 63k+ Aircraft Operations Annually. The U.S. Army also maintains a Base at the Airport.
  • Immediate Area Experiencing Major Growth: Conroe has been Ranked Among the Nation's Fastest-Growing Places in the Most Recent Years.
  • In Close Proximity to Conroe Highschool, providing for an Increased Potential Customer Base due to the Daily Commute of Parents, Students, and Teachers.

Investment Overview

Conroe is a city in and the county seat of Montgomery County, Texas, at about 40 miles north of Houston. It is a principal city in the Houston–The Woodlands–Sugar Land metropolitan area. As of 2021, the population was 98,081, up from 56,207 in 2010. According to the Census Bureau, Conroe was the fastest-growing large city in the United States between July 1, 2015, and July 1, 2016. Greater Houston has the seventh-highest metropolitan-area gross domestic product in the United States, valued at $490 billion in 2017. A major trade center anchored by the Port of Houston, Houston–The Woodlands–Sugar Land has the highest trade export value of all metropolitan areas, at over $120 billion in 2018, accounting for 42% of the total exports of Texas. As of 2021, Greater Houston is home to the headquarters of 24 Fortune 500 companies, ranking third among all metropolitan statistical areas. The Greater Houston metropolitan area was ranked the fourth-most diverse metropolitan area in the United States in 2012.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s): TX: 0606255

    Texas

Financing By

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