12835 Telge RdCypress, TX 77429

For Sale
$7,349,000

High-yield, 7-Eleven NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 4,739-square-foot 7-Eleven gas station and convenience store located at 12835 Telge Rd, Cypress, TX 77429, in Harris County. The property, built in 2020, sits on a 2.07-acre lot and is currently operating under a 15-year absolute NNN lease with a corporate guarantee, providing significant financial stability. The lease commenced on June 25, 2019, and has a remaining term of 10.6 years, extending to June 30, 2035. The lease includes a favorable 10% rent increase every five years, ensuring consistent growth in rental income. The current asking price is $7,349,000, representing a price per square foot of $1,550.75 and a 6.00% cap rate. The property boasts a Net Operating Income (NOI) of $440,931 and 100% occupancy. The lease includes five, 5-year renewal options, further securing long-term value. The affluent trade area, with an average household income exceeding $134,411 within a 3-mile radius, contributes to the property's strong performance and future potential. This is a turnkey investment with substantial future rent obligations exceeding $4.7 million.

Highlights

  • Gas station and convenience store owner/user opportunity.
  • Absolute NNN lease with 10.6 years remaining, 10% rent increases every five years, and over $4.7M in future rent obligations.
  • 2020-built property with strong surrounding development activity.
  • High-income trade area with average household income exceeding $134,411 within a 3-mile radius.

Property Details for 12835 Telge Rd

Property type
Other retail properties, Automotive properties
Square Feet
4,739 SF
Year Built
2020
Lot Size (sq. ft)
90,169 SF
Units
1

Location Insight

City
Cypress
County
Harris
State
Texas
Latitude
29.964094004311
Longitude
-95.650602361001
12835 Telge Rd, Cypress, Texas

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12835 Telge Rd
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