6229 Stewart RdGalveston, TX 77551

For Sale
$4,260,000

High-Demand QSR, Strong Lease

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity features a brand-new, 2,775 square foot Chipotle restaurant in Galveston, Texas. Located at 6229 Stewart Rd, this single-tenant, absolute NNN property boasts a 20-year lease (commencing September 19, 2024, and expiring September 30, 2044) with a corporate guarantee and 10% rent bumps every five years. The property sits on a 0.76-acre lot with 60 parking spaces and is part of The Plaza, a high-performing retail center with national brands like Five Below, Ross, and Whataburger. This prime location benefits from high visibility (near 50,000 vehicles per day) and serves as Galveston's first and only Chipotle, catering to residents and the city's 8 million annual tourists. The property offers a strong 4.65% cap rate and a substantial net operating income (NOI) of $198,000. The building, constructed in 2024, is a Class A, one-story structure. The lease includes four 5-year renewal options, ensuring long-term, passive income for the investor. This fee-simple interest property presents a rare opportunity to acquire a high-performing asset in a thriving Texas market with significant population growth. The property's location at a major intersection provides excellent visibility and accessibility. This is a truly exceptional investment opportunity with a strong tenant, long-term lease, and excellent location.

Highlights

  • New 2,775 SF Chipotle restaurant in Galveston, TX, on a 0.76-acre lot with 60 parking spaces.
  • Located in The Plaza, a high-performing retail center with national tenants including Five Below, Ross, and Whataburger, attracting over 2.4 million annual visitors.
  • Galveston's first and only Chipotle, benefiting from high visibility (near 50,000 vehicles per day) and serving residents and 8 million annual tourists.
  • 20-year absolute NNN lease with corporate guarantee and 10% rent increases every five years, plus four 5-year renewal options.
  • Strong investment opportunity with a 4.65% cap rate and $198,000 NOI.

Property Details for 6229 Stewart Rd

Property type
Other retail properties, Restaurants
Square Feet
2,775 SF
Class
A
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
33,106 SF

Location Insight

City
Galveston
County
Galveston
State
Texas
Latitude
29.2744388
Longitude
-94.8326962
6229 Stewart Rd, Galveston, Texas

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6229 Stewart Rd
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