5701 Washington AveHouston, TX 77007

For Sale
$4,628,000

NNN Lease, 7% Cap Rate, High Traffic

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 6,942 square foot bar located at 5701 Washington Ave, Houston, TX 77007. The property, built in 1960 and renovated in 2019, sits on a 25,513 square foot lot and boasts coveted frontage on Washington Ave, experiencing over 16,000 cars daily. The tenant, Rain HTX, a new concept by Show Hospitality, recently signed a new 7-year absolute NNN lease with a 5-year option, featuring annual rent increases. This provides a 7% cap rate and minimizes landlord responsibilities. The location within the Washington Corridor offers high visibility and benefits from a dense population (492,000 residents within 5 miles, 714,000+ daytime population) and high average household income ($226,000+ within 1 mile). Proximity to Memorial Park further enhances its appeal. The property's unique design and the tenant's upscale dining and entertainment concept create a strong investment opportunity with significant upside potential. The asking price is $4,628,000, translating to $666.67 per square foot. This is a management-free investment with built-in inflation protection through annual rent escalations.

Highlights

  • 6,942 SF bar on a 25,513 SF lot at 5701 Washington Ave, Houston, TX 77007.
  • 7-year absolute NNN lease with a 5-year option, featuring annual rent increases and a 7% cap rate.
  • High-visibility location on Washington Ave, experiencing over 16,000 cars daily.
  • $4,628,000 asking price ($666.67/SF).

Property Details for 5701 Washington Ave

Property type
Other retail properties, Restaurants
Square Feet
6,942 SF
Year Built/Renovated
1960/2019
Buildings
1

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.770702565313
Longitude
-95.419340337586
5701 Washington Ave, Houston, Texas

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5701 Washington Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message