8805 Broadway StPearland, TX 77584

For Sale
$3,445,000

High-growth Pearland location, 15-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a brand-new, 2,377 square foot Chipotle restaurant situated on 0.61 acres in Pearland, Texas. The property boasts a prominent location on Broadway Street, a high-traffic thoroughfare with over 32,000 vehicles passing daily, ensuring excellent visibility and accessibility. This absolute NNN lease with a corporate guarantee from Chipotle offers a passive income stream with a remaining term of 15.2 years, expiring January 31, 2040. The lease commenced January 15, 2025, and includes rent bumps every five years. The property's strong location benefits from its proximity to major retail destinations, including Pearland Town Center, and is surrounded by a dense population base, including schools and Memorial Hermann Pearland Hospital. Pearland's rapid growth is projected to add nearly 10,000 residents within a five-mile radius by 2029, further solidifying the property's long-term value. The affluent community boasts an average annual household income of $141,386 within a three-mile radius. The property's strong demographics, combined with the long-term lease and built-in rent increases, make this a compelling investment opportunity with a 4.50% cap rate and a net operating income (NOI) of $155,000. The building was constructed in 2024. This offering is suitable for a 1031 exchange.

Highlights

  • $3,445,000 asking price for a 2,377 SF retail property.
  • Absolute NNN net lease with corporate guarantee from Chipotle.
  • 15.2 years remaining on a 15-year lease, commencing January 15, 2025, and expiring January 31, 2040, with rent bumps.
  • 4.50% cap rate and $155,000 NOI.
  • Located at 8805 Broadway St, Pearland, TX 77584, on a 0.61-acre lot in a high-traffic area.

Property Details for 8805 Broadway St

Property type
Other retail properties, Individual retail properties
Square Feet
2,377 SF
Year Built
2024
Lot Size (sq. ft)
26,572 SF

Location Insight

City
Pearland
County
Brazoria
State
Texas
Latitude
29.559864803102
Longitude
-95.355665921312
8805 Broadway St, Pearland, Texas

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8805 Broadway St
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