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Wells Fargo (Ground Lease)

2799 Fulton St, Houston, TX 77009

Listing Price: $2,327,000

Cap Rate
6.50%
Tenant Name
Wells Fargo
Years Remaining On Lease
1.4
Gross SF
3,618
Guarantor
Corporate Guarantee
Rentable SF
3,618
Price/Gross SF
$643.17
Lease Type
Ground Lease
Rent Per Square Feet
$41.80

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Wells Fargo ground lease in Houston, Texas. The property consists of a 3,618-square foot, freestanding building that sits on approximately 0.79 acres of land. There are approximately 1.5 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years in the options. Wells Fargo have operated at this location for more than 14 years. The property has excellent access and visibility on Fulton Street, where traffic counts exceed 16,281 vehicles per day. The area is extremely dense with more than 422,746 residents within a five-mile radius. Surrounding retailers in the immediate area include McDonald’s, AutoZone, Family Dollar, Little Caesars, Fiesta Mart, Walgreens and many more. The property is also a mile from White Oak Music Hall, a 5-acre, 3 stage live music complex.

Investment Highlights

  • Corporate Ground Lease
  • Wells Fargo has Been Operating at this Location More than 14 Years
  • Downtown Houston Location - 422,746 Residents and a 698,805 Daytime Population Within a Five-Mile Radius
  • Excellent Visibility on Fulton Street, Where Traffic Counts Exceed 16,281 Vehicles per Day
  • Across from a Red Line Train Stop - 40,000 Passengers Daily
  • Average Household Income of $105,936 Within a 5-Mile Radius

Exclusively Listed By

Financing By

Listing Price: $2,327,000

Cap Rate
6.50%
Tenant Name
Wells Fargo
Years Remaining On Lease
1.4
Gross SF
3,618
Guarantor
Corporate Guarantee
Rentable SF
3,618
Price/Gross SF
$643.17
Lease Type
Ground Lease
Rent Per Square Feet
$41.80

Investment Highlights

  • Corporate Ground Lease
  • Wells Fargo has Been Operating at this Location More than 14 Years
  • Downtown Houston Location - 422,746 Residents and a 698,805 Daytime Population Within a Five-Mile Radius
  • Excellent Visibility on Fulton Street, Where Traffic Counts Exceed 16,281 Vehicles per Day
  • Across from a Red Line Train Stop - 40,000 Passengers Daily
  • Average Household Income of $105,936 Within a 5-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Wells Fargo ground lease in Houston, Texas. The property consists of a 3,618-square foot, freestanding building that sits on approximately 0.79 acres of land. There are approximately 1.5 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years in the options. Wells Fargo have operated at this location for more than 14 years. The property has excellent access and visibility on Fulton Street, where traffic counts exceed 16,281 vehicles per day. The area is extremely dense with more than 422,746 residents within a five-mile radius. Surrounding retailers in the immediate area include McDonald’s, AutoZone, Family Dollar, Little Caesars, Fiesta Mart, Walgreens and many more. The property is also a mile from White Oak Music Hall, a 5-acre, 3 stage live music complex.

Exclusively Listed By

Financing By

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