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Restaurant

Popeyes w/ Drive Thru | Houston MSA | 20 Year Absolute Net Ground Sale Leaseback | Pad to Kroger

6370 Farm to Market 2920 rd, Spring (Houston MSA), TX 77379

Listing Price: $3,328,000

Cap Rate
4.50%
Tenant Name
Popeyes Chicken
Years Remaining On Lease
20.0
Gross SF
2,813
Guarantor
Franchisee Guarantee
Rentable SF
2,813
Price/Gross SF
$1,183.08
Lease Type
NNN Ground Lease
Rent Per Square Feet
$53.24

Investment Overview

Spring is a census-designated place (CDP) within the extraterritorial jurisdiction of Houston in Harris County, Texas, United States, part of the Houston–The Woodlands–Sugar Land metropolitan area. The population was 54,298 at the 2010 census. While the name “Spring” is popularly applied to a large area of northern Harris County and a smaller area of southern Montgomery County, the original town of Spring, now known as Old Town Spring, is located at the intersection of Spring-Cypress and Hardy roads and encompasses a relatively small area of perhaps 1 square kilometer (0.39 sq mi). In January 2010 the Houston Business Journal reported that real estate officials said that ExxonMobil planned to build a corporate campus in unincorporated Harris County along Interstate 45, adjacent to the Spring CDP. According to the article, ExxonMobil plans to consolidate thousands of employees from Houston and Fairfax County, Virginia into the facility; employees from over two dozen locations in Greater Houston are expected to be consolidated into the new facility. The 9,000-employee campus opened in 2014. In 2022 ExxonMobil announced it was moving its headquarters there from Irving, 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. This Location Features a Drive-Thru.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 17k Vehicles.
  • Densely Populated and Affluent Area: Average Household Income of more than $138k (More than Double the National Average) within a 3-Mile Radius and over 221k People Residing within a 5-Mile Radius.
  • Just South of The Woodlands: The Most Prosperous Suburb of Houston and the Region's Largest Employment Center.
  • Pad Site to Kroger and near Numerous National Retailers Including Walmart Supercenter, The Home Depot, ALDI, Target, Academy Sports, Lowe's, H-E-B, Sprouts and many more.
  • In Close Proximity to Numerous Schools, 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 | Pad to Kroger

Listing Price: $3,328,000

Cap Rate
4.50%
Tenant Name
Popeyes Chicken
Years Remaining On Lease
20.0
Gross SF
2,813
Guarantor
Franchisee Guarantee
Rentable SF
2,813
Price/Gross SF
$1,183.08
Lease Type
NNN Ground Lease
Rent Per Square Feet
$53.24

Investment Highlights

  • 20 Year Absolute Net Ground Sale Leaseback Featuring 7.5% Rental Increases Every 5 Years throughout the Initial Term & Options. This Location Features a Drive-Thru.
  • Positioned Along Area's Major Traffic & Retail Corridor - Features Easy Access and Excellent Visibility with Daily Combined Traffic Counts Exceeding 17k Vehicles.
  • Densely Populated and Affluent Area: Average Household Income of more than $138k (More than Double the National Average) within a 3-Mile Radius and over 221k People Residing within a 5-Mile Radius.
  • Just South of The Woodlands: The Most Prosperous Suburb of Houston and the Region's Largest Employment Center.
  • Pad Site to Kroger and near Numerous National Retailers Including Walmart Supercenter, The Home Depot, ALDI, Target, Academy Sports, Lowe's, H-E-B, Sprouts and many more.
  • In Close Proximity to Numerous Schools, providing for an Increased Potential Customer Base due to the Daily Commute of Parents, Students, and Teachers.

Investment Overview

Spring is a census-designated place (CDP) within the extraterritorial jurisdiction of Houston in Harris County, Texas, United States, part of the Houston–The Woodlands–Sugar Land metropolitan area. The population was 54,298 at the 2010 census. While the name “Spring” is popularly applied to a large area of northern Harris County and a smaller area of southern Montgomery County, the original town of Spring, now known as Old Town Spring, is located at the intersection of Spring-Cypress and Hardy roads and encompasses a relatively small area of perhaps 1 square kilometer (0.39 sq mi). In January 2010 the Houston Business Journal reported that real estate officials said that ExxonMobil planned to build a corporate campus in unincorporated Harris County along Interstate 45, adjacent to the Spring CDP. According to the article, ExxonMobil plans to consolidate thousands of employees from Houston and Fairfax County, Virginia into the facility; employees from over two dozen locations in Greater Houston are expected to be consolidated into the new facility. The 9,000-employee campus opened in 2014. In 2022 ExxonMobil announced it was moving its headquarters there from Irving, 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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