19550 Restaurant RowHouston, TX 77084

For Sale
$11,667,857

High-performing, NNN-leased fitness center.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple, 45,000-square-foot LA Fitness in Houston, Texas. Located at 19550 Restaurant Row, 77084, this freestanding health club boasts a strong 11-year remaining lease term (expiring 10/30/2035) with three 5-year renewal options. The tenant, LA Fitness, enjoys a corporate guarantee and a stable S&P rating of 'B'. The property, built in 2005 and situated on a 3.78-acre lot, benefits from a recent lease extension executed in 2020, demonstrating the tenant's long-term commitment. Rent increases are capped at the lesser of CPI or 10% every five years, providing predictable income growth. The property's strong financial performance is reflected in its 7.00% cap rate and $816,750 NOI. The asking price is $11,667,857 ($259.29/SF). The location is strategically positioned near numerous national and local retailers, including Ashley Furniture, At Home, H-E-B, Kohl's, and many more, serving a dense population with high average household income. This is a rare opportunity to acquire a high-quality, net-leased asset with a proven track record and significant upside potential. 100% occupancy ensures immediate cash flow.

Highlights

  • Fee-simple, 45,000 SF LA Fitness in Houston, TX, on a 3.78-acre lot.
  • 11-year lease remaining (expiring 10/30/2035) with three 5-year options; corporate guarantee and S&P rating of 'B'.
  • 7.00% cap rate, $816,750 NOI, asking price $11,667,857 ($259.29/SF).
  • Strong location near major retailers, serving a high-income demographic.
  • 100% occupancy.

Property Details for 19550 Restaurant Row

Property type
Other retail properties, Individual retail properties
Square Feet
45,000 SF
Year Built
2005
Lot Size (sq. ft)
164,657 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7877516
Longitude
-95.7126252
19550 Restaurant Row, Houston, Texas

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19550 Restaurant Row
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