Overview of Property
The investment opportunity is a very rare retail ground lease property. The property is a 100% fee simple interest in a 15 year corporate guarenteed ground lease with scheduled increases in both the initial term and the option periods. There is also freeway visibility as the asset sits along interstate 45. The asset will include two drive-thru and excellent co-tenancy with adjacent retailers. Nearby retailers include a new Walmart (under development), Sears, Home Depot, Office Depot, Lowe’s, Conn’s, Dollar Tree, proximity to Houston Community College. George Sanchez High School, University of Houston and many others.
Map of Area
Model Representation of Property
Legal description
The property is located at latitude 29.714221 and longitude -95.315259.
The physical address is 5932 Gulf Freeway, 77023 TX. It is located on the intersection of the Gulf Freeway and South Way Side Drive. The Lot is divided into 2 by a path. It is surrounded by Telephone Road, Maxwell Lane, Gulf Freeway and South Way Side Drive. Our specific property is located on the north side of the path that divides the Lot. It is on the North West corner of the Lot and is currently surrounded by Burger King(located south of property) and Taco Cabana(located southeast of property).
Square footage of property (52,314 S.F.), Building (4317 S.F.), Number of parking spaces (55) Building Class (Class A)
Signage
Sign of retail property will be clearly visible for cars drivers and passengers on the highway. There is nothing blocking the view of the Boards displaying the names of current fast food restaurants on the highway, as is displayed in the picture below.
Ingress/Egress
The property is located near the major intersection of Gulf Freeway and S. Wayside Drive. The property can be accessed from and onto Gulf Freeway (Interstate 45).
Sources:
Chick-Fil-A Property Listing
Google Maps
Longitude and Latitude
No comments:
Post a Comment