2620 Sam Houston PkwyHouston, TX 77042

For Sale
$3,443,077

High-yield, triple-net leased retail center.

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional investment opportunity presents a fully occupied, Class A retail center in Houston, TX. The 4,600 square foot property, built in 2019, sits on a 0.45-acre lot and boasts three tenants: Starbucks, Dunkin', and Dutch Bros. Coffee. The property benefits from a 100% occupancy rate and a strong weighted average lease term of 6.8 years, with each tenant holding two, five-year renewal options. Annual rent increases are in place, providing a hedge against inflation. The property features a triple-net (NNN) lease structure, meaning tenants are responsible for taxes, insurance, and operating expenses. The current Net Operating Income (NOI) is $241,371, resulting in a 7.01% cap rate. The strategic location on Sam Houston Parkway, near Westheimer Road, offers high visibility and accessibility, with significant daily traffic counts. The property is situated near major employers, including the Phillips 66 headquarters, and numerous retail amenities such as Trader Joe's, ALDI, HEB, Lowe's, Petco, Kohl's, and Walmart. The surrounding area also features a strong demographic profile, with a high average household income and projected population growth. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with significant long-term growth potential. The asking price is $3,443,077.

Highlights

  • Prime Houston location on Sam Houston Parkway near Westheimer Rd, experiencing ±266,000 VPD. Strong demographics: 197,344 population within 3 miles, $110,988 average household income.
  • Investment-grade tenants: Black Rock Coffee and Fluent (Cansortium Inc.), providing dual corporate guarantees.
  • Inflation-resistant leases: 3% annual increases for two tenants, 10% every five years for Black Rock.
  • Triple-net (NNN) leases: Landlord receives reimbursements for taxes, insurance, operating expenses, and CAM.
  • Long-term leases: 6.8-year weighted average lease term, with two 5-year renewal options for each tenant.

Property Details for 2620 Sam Houston Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
4,600 SF
Class
A
Year Built
2019
Buildings
1
Lot Size (sq. ft)
19,602 SF
Units
3

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7381668
Longitude
-95.5588253
2620 Sam Houston Pkwy, Houston, Texas

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2620 Sam Houston Pkwy
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