6907 Farm To Market 1960 RdHouston, TX 77066

For Sale
$4,000,000

High-yield bank lease; strong tenant; excellent location.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a chance to acquire a ground leasehold interest in a 4,064-square-foot Wells Fargo bank located at 6907 Farm to Market 1960 Rd W, Houston, Texas 77066. The property, built in 2005 and situated on a 0.96-acre lot, boasts a prime location on a high-traffic retail corridor with over 46,712 vehicles passing daily, ensuring exceptional visibility and accessibility. The current absolute NNN lease with Wells Fargo, a corporate guaranteed tenant, has a remaining term of approximately 1.4 years. The lease commenced April 1, 2006, and expires March 31, 2026, with three, five-year renewal options, each including a 10% rent increase. The current asking price is $4,000,000, representing a price per square foot of $984.25 and a cap rate of 8.65%. The property generates a net operating income (NOI) of $346,060. This is a single-tenant, 100% occupied property offering a stable, long-term investment opportunity with a strong corporate tenant and a history of over 18 years of operation at this location. The lease features scheduled rent bumps, providing built-in growth potential. This is a rare opportunity to acquire a well-established, high-performing asset in a desirable Houston location.

Highlights

  • $4,000,000 asking price for a 4,064 SF retail property.
  • Absolute NNN ground lease with Wells Fargo, a corporate tenant, providing a corporate guarantee.
  • 1.4 years remaining on the lease, with three 5-year renewal options at 10% rent increases every five years.
  • High-visibility location on a major retail corridor with traffic counts exceeding 46,712 vehicles per day (VPD).
  • 8.65% cap rate, $346,060 NOI.

Property Details for 6907 Farm To Market 1960 Rd

Property type
Other retail properties, Individual retail properties
Square Feet
4,064 SF
Year Built
2005
Lot Size (sq. ft)
41,818 SF
Units
1

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.9691041
Longitude
-95.5313597
6907 Farm To Market 1960 Rd, Houston, Texas

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6907 Farm To Market 1960 Rd
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