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Miscellaneous

Senor Check Cashing

12903 Westheimer Rd, Houston, TX 77077

Listing Price: $1,100,000

Tenant Name
Senor Check Cashing
Years Remaining On Lease
0.6
Gross SF
1,800
Guarantor
Corporate Guarantee
Rentable SF
1,800
Price/Gross SF
$611.11
Lease Type
Absolute Net
Rent Per Square Feet
$36.67

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a 1,800 square foot freestanding retail building situated on .51 acres, located at 12903 Westheimer Road in Houston, Texas. The property is located at the hard-corner signalized intersection of Westheimer Road (63,633 vehicles per day) and Ashford Oak Drive, between Eldridge Parkway and South Dairy Ashford Road. The property is leased to Señor Check Cashing (26 locations in Houston and 1 location in Dallas). The tenant is on an absolute triple net lease (tenant responsible for roof and structure), which allows the landlord to have no responsibilities over the property. This property provides an investor with a short-term value add opportunity. Señor Check Cashing currently pays $66,000 in rent ($36.67 per square foot), yielding a CAP rate of 6 percent and have occupied the space since 2017. The lease is set to expire in August 2022, but the tenant has one 5-year renewal option at $72,000 in annual rent ($40 per square foot), which will yield a 6.55 percent CAP rate in year 2, if the tenant renews its lease. The featured property is in close proximity to the Market Square at Eldridge shopping center which features national retail tenants such as Target, Dollar Tree, TJ Maxx, PetSmart, Starbucks, and many more exposing the property to heavy traffic comprised of mainly shoppers. Senior Cash Checking is located across the main entrance to the 2400 Briarwood Apartments, a large apartment complex.

Investment Highlights

  • Hard-Corner Signalized Intersection – Excellent Access and Visibility Along Westheimer Road (63,633 Vehicles Per Day)
  • Current 6% CAP Rate with a Pro Forma CAP Rate of 6.55%
  • Absolute Triple Net Lease (No Landlord Responsibilities)
  • In Close Proximity to National Retail Tenants such as Target, Dollar Tree, TJ Maxx, PetSmart, Starbucks, and many more

Exclusively Listed By

Miscellaneous

Senor Check Cashing

Listing Price: $1,100,000

Tenant Name
Senor Check Cashing
Years Remaining On Lease
0.6
Gross SF
1,800
Guarantor
Corporate Guarantee
Rentable SF
1,800
Price/Gross SF
$611.11
Lease Type
Absolute Net
Rent Per Square Feet
$36.67

Investment Highlights

  • Hard-Corner Signalized Intersection – Excellent Access and Visibility Along Westheimer Road (63,633 Vehicles Per Day)
  • Current 6% CAP Rate with a Pro Forma CAP Rate of 6.55%
  • Absolute Triple Net Lease (No Landlord Responsibilities)
  • In Close Proximity to National Retail Tenants such as Target, Dollar Tree, TJ Maxx, PetSmart, Starbucks, and many more

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a 1,800 square foot freestanding retail building situated on .51 acres, located at 12903 Westheimer Road in Houston, Texas. The property is located at the hard-corner signalized intersection of Westheimer Road (63,633 vehicles per day) and Ashford Oak Drive, between Eldridge Parkway and South Dairy Ashford Road. The property is leased to Señor Check Cashing (26 locations in Houston and 1 location in Dallas). The tenant is on an absolute triple net lease (tenant responsible for roof and structure), which allows the landlord to have no responsibilities over the property. This property provides an investor with a short-term value add opportunity. Señor Check Cashing currently pays $66,000 in rent ($36.67 per square foot), yielding a CAP rate of 6 percent and have occupied the space since 2017. The lease is set to expire in August 2022, but the tenant has one 5-year renewal option at $72,000 in annual rent ($40 per square foot), which will yield a 6.55 percent CAP rate in year 2, if the tenant renews its lease. The featured property is in close proximity to the Market Square at Eldridge shopping center which features national retail tenants such as Target, Dollar Tree, TJ Maxx, PetSmart, Starbucks, and many more exposing the property to heavy traffic comprised of mainly shoppers. Senior Cash Checking is located across the main entrance to the 2400 Briarwood Apartments, a large apartment complex.

Exclusively Listed By

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