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Restaurant

909 - 911 Franklin @ Bayou Lofts

909 Franklin St, Houston, TX 77002

Listing Price: $1,370,500

Cap Rate
6.75%
Tenant Name
La Calle
Years Remaining On Lease
9.8
Gross SF
3,865
Guarantor
Personal Guarantee
Rentable SF
3,865
Price/Gross SF
$354.59
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.93

Investment Overview

The subject property is a 3,865 square foot retail condominium located in Downtown Houston. It is part of the Bayou Lofts Condominium building at the corner of Franklin Street and Main Street. The building was built between 1910 and 1920 as an office building and was converted to condominiums in 1997.

La Calle is an Authentic Mexican Street Taco restaurant focused on bringing the experience of Mexico City to its customers. The tenant opened its first location in the subject property and extended into the adjacent space. The concept has done well and the owner has opened two other locations.

Being located in Downtown draws many traffic drivers for the tenant. Many large office buildings provide high daytime populations of over 184,600 within one mile. The property is on the Metro rail line providing ground transportation to many different locations. The Harris County courthouses are only two blocks away and at night Minute Maid Park, Toyota Center and BBVA Stadium create nighttime traffic for Downtown. Average household incomes within one mile are over $106,000 which is well above the national average.

Investment Highlights

  • 10-year Lease with annual increases | Early extension Requested by Tenant
  • Tenant has expanded since opening in 2016 | Opened Two Other Locations
  • On Metro rail line | One Block from U of H Downtown
  • First Floor Retail of Nine Story Residential Condominium Building

Exclusively Listed By

Financing By

Restaurant

909 - 911 Franklin @ Bayou Lofts

Listing Price: $1,370,500

Cap Rate
6.75%
Tenant Name
La Calle
Years Remaining On Lease
9.8
Gross SF
3,865
Guarantor
Personal Guarantee
Rentable SF
3,865
Price/Gross SF
$354.59
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.93

Investment Highlights

  • 10-year Lease with annual increases | Early extension Requested by Tenant
  • Tenant has expanded since opening in 2016 | Opened Two Other Locations
  • On Metro rail line | One Block from U of H Downtown
  • First Floor Retail of Nine Story Residential Condominium Building

Investment Overview

The subject property is a 3,865 square foot retail condominium located in Downtown Houston. It is part of the Bayou Lofts Condominium building at the corner of Franklin Street and Main Street. The building was built between 1910 and 1920 as an office building and was converted to condominiums in 1997. La Calle is an Authentic Mexican Street Taco restaurant focused on bringing the experience of Mexico City to its customers. The tenant opened its first location in the subject property and extended into the adjacent space. The concept has done well and the owner has opened two other locations. Being located in Downtown draws many traffic drivers for the tenant. Many large office buildings provide high daytime populations of over 184,600 within one mile. The property is on the Metro rail line providing ground transportation to many different locations. The Harris County courthouses are only two blocks away and at night Minute Maid Park, Toyota Center and BBVA Stadium create nighttime traffic for Downtown. Average household incomes within one mile are over $106,000 which is well above the national average.

Exclusively Listed By

Financing By

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