3486 Discovery Creek Blvd - Restaurant FOR SALE


Spring, TX 77386
$3,440,000 USD
408-510-9057
3486 Discovery Creek Blvd, Spring, TX for Sale
$3,440,000 USD
Restaurant - FOR SALE
1/3
null | 6.25% Cap Rate

3486 Discovery Creek Blvd
Spring, TX 77386


HIGHLIGHTS

  • New 20-Year Absolute NNN Lease Commencing at Close of Escrow w/ Zero Landlord Responsibilities
  • Extremely Low Rent-to-Sales Ratio and Strong Approximate 2.50x EBITDAR Coverage Ratio
  • 2% Annual Rent Increases Plus Four (4) Five-Year Renewal Options for Up to 20 Additional Years
  • Newer High-Quality 2020 Construction, ±6,198 SF Building Plus ±1,620 SF Patio on ±0.95 Acres
  • Located in the Affluent Spring/The Woodlands Submarket With ~$176K Average Household Income Within 1-Mile
  • Just 3 Miles From ExxonMobil's 385-Acre Corporate Headquarters (10,000-Person Campus)

OVERVIEW

Marcus & Millichap is pleased to present a freestanding The Republic Grille located at 3486 Discovery Creek Blvd in Spring, Texas, positioned within the affluent Spring/The Woodlands submarket of the Greater Houston MSA and just three miles from ExxonMobil's 385-acre corporate headquarters. The property will be secured by a brand-new 20-year absolute NNN lease commencing at close of escrow, offering investors zero landlord responsibilities and fully passive income, with the tenant maintaining an extremely low rent-to-sales ratio and a strong approximate 2.50x EBITDAR coverage ratio. The ±6,198 SF building, plus a ±1,620 SF patio, sits on a ±0.95 acre lot built in 2020 with high-quality construction, strong visibility, and ample onsite parking. Located near H-E-B, Walmart, Target, Costco, and the Woodlands medical corridor, and surrounded by affluent master-planned communities including Harmony, Benders Landing, Imperial Oaks, and The Woodlands, the site draws from a dense, high-income residential base with average household income of approximately $176,000 within a one-mile radius. With scheduled 2% annual rent increases, four five-year renewal options, and an award-winning regional restaurant brand, this offering provides long-term, inflation-protected cash flow in one of Houston's fastest-growing residential corridors.

FOR SALE DETAILS

PRICE

$3,440,000 USD

PRICE/SF

$555 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Republic Grille | 20yr NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

63

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,795 SF

ZONING

None

APN/PARCEL ID

5711-90-00301

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.