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Restaurant

Corp. Taco Palenque w/ Drive-Thru | Houston | Absolute Net Lease w/ Rare Above Average Increases

3000 Woodridge Dr, Houston, TX 77087

Listing Price: $3,995,000

Cap Rate
6.21%
Tenant Name
Taco Palenque
Years Remaining On Lease
8.8
Gross SF
4,614
Guarantor
Corporate Guarantee
Rentable SF
4,614
Price/Gross SF
$865.84
Lease Type
Absolute Net
Rent Per Square Feet
$53.74

Investment Overview

Houston is the most populous city in the U.S. state of Texas, fourth-most populous city in the United States, most populous city in the Southern United States, as well as the sixth-most populous in North America, with an estimated 2019 population of 2,320,268. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat of Harris County and the principal city of the Greater Houston metropolitan area, which is the fifth-most populous metropolitan statistical area in the United States and the second-most populous in Texas after the Dallas–Fort Worth metroplex, with a population of 7,066,141 in 2019. Houston is the southeast anchor of the greater megaregion known as the Texas Triangle. Houston is the eighth-most expansive city in the United States (including consolidated city-counties). It is the largest city in the United States by total area, whose government is not consolidated with that of a county, parish, or borough. Though primarily in Harris County, small portions of the city extend into Fort Bend and Montgomery counties, bordering other principal communities of Greater Houston such as Sugar Land and The Woodlands.

Investment Highlights

  • Absolute Net Lease Feat. Above Average Increases (Greater of 15% or CPI) Every 5 Years throughout the Initial Term and Options. 11+ Year Historical Occupancy. Features a Drive-Thru.
  • Positioned Along Area's Major Retail & Traffic Corridor: Equipped w/ a large Pylon Sign - Excellent Visibility & Easy Access at a Signalized Intersection w/ Daily Traffic Counts Exceeding 26k Vehicles
  • Nearby On/Off Ramp Access to both Interstate-610 (180k+ VPD) and Interstate-45 (196k+ VPD), two Heavily Traveled Commuter Thoroughfares for the Houston Metropolitan Area.
  • Site is Surrounded by Dense Residential Neighborhoods, Apartment Complexes, and Numerous Amenities Including Parks, Schools, and More.
  • Site is Surrounded by Dense Residential Neighborhoods, Apartment Complexes, and Numerous Amenities Including Parks, Schools, and More.
  • Strong Tenant Synergy increases Consumer Draw to the Immediate Trade Area and Promotes Crossover Store Exposure for Taco Palenque.
  • Pad Site to Lowe's & Adjacent to Gulfgate Center - a 805k+ SF Power Center anchored by H-E-B, Lowe's Home Improvement, Marshalls, Ross Dress for Less, Best Buy and more.
  • A Short Drive from William P. Hobby Airport - it serves the City as a Secondary Airport, handling Domestic Service and is a Regional Center for Corporate and Private Aviation. Minutes from University of Houston - a 667-Acre Campus containing 29 Research Centers and over 46k Students making it the Third Largest University in the State of Texas.

Exclusively Listed By

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    License(s) TX: 0606255

    Texas

Restaurant

Corp. Taco Palenque w/ Drive-Thru | Houston | Absolute Net Lease w/ Rare Above Average Increases

Listing Price: $3,995,000

Cap Rate
6.21%
Tenant Name
Taco Palenque
Years Remaining On Lease
8.8
Gross SF
4,614
Guarantor
Corporate Guarantee
Rentable SF
4,614
Price/Gross SF
$865.84
Lease Type
Absolute Net
Rent Per Square Feet
$53.74

Investment Highlights

  • Absolute Net Lease Feat. Above Average Increases (Greater of 15% or CPI) Every 5 Years throughout the Initial Term and Options. 11+ Year Historical Occupancy. Features a Drive-Thru.
  • Positioned Along Area's Major Retail & Traffic Corridor: Equipped w/ a large Pylon Sign - Excellent Visibility & Easy Access at a Signalized Intersection w/ Daily Traffic Counts Exceeding 26k Vehicles
  • Nearby On/Off Ramp Access to both Interstate-610 (180k+ VPD) and Interstate-45 (196k+ VPD), two Heavily Traveled Commuter Thoroughfares for the Houston Metropolitan Area.
  • Site is Surrounded by Dense Residential Neighborhoods, Apartment Complexes, and Numerous Amenities Including Parks, Schools, and More.
  • Site is Surrounded by Dense Residential Neighborhoods, Apartment Complexes, and Numerous Amenities Including Parks, Schools, and More.
  • Strong Tenant Synergy increases Consumer Draw to the Immediate Trade Area and Promotes Crossover Store Exposure for Taco Palenque.
  • Pad Site to Lowe's & Adjacent to Gulfgate Center - a 805k+ SF Power Center anchored by H-E-B, Lowe's Home Improvement, Marshalls, Ross Dress for Less, Best Buy and more.
  • A Short Drive from William P. Hobby Airport - it serves the City as a Secondary Airport, handling Domestic Service and is a Regional Center for Corporate and Private Aviation. Minutes from University of Houston - a 667-Acre Campus containing 29 Research Centers and over 46k Students making it the Third Largest University in the State of Texas.

Investment Overview

Houston is the most populous city in the U.S. state of Texas, fourth-most populous city in the United States, most populous city in the Southern United States, as well as the sixth-most populous in North America, with an estimated 2019 population of 2,320,268. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat of Harris County and the principal city of the Greater Houston metropolitan area, which is the fifth-most populous metropolitan statistical area in the United States and the second-most populous in Texas after the Dallas–Fort Worth metroplex, with a population of 7,066,141 in 2019. Houston is the southeast anchor of the greater megaregion known as the Texas Triangle. Houston is the eighth-most expansive city in the United States (including consolidated city-counties). It is the largest city in the United States by total area, whose government is not consolidated with that of a county, parish, or borough. Though primarily in Harris County, small portions of the city extend into Fort Bend and Montgomery counties, bordering other principal communities of Greater Houston such as Sugar Land and The Woodlands.

Exclusively Listed By

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    License(s): TX: 0606255

    Texas

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