510 Gray St - Freestanding FOR SALE


Houston, TX 77002- Midtown Houston
$4,834,000 USD
949-547-2213
510 Gray St, Houston, TX for Sale
$4,834,000 USD
Freestanding - FOR SALE
1/11
null | 7.5% Cap Rate

510 Gray St
Houston, TX 77002
Midtown Houston


HIGHLIGHTS

  • Long Term Ground Lease | Options to Extend | NNN Leases | 100% Occupied | Long Term Leases
  • Heart of Midtown | Downtown Proximity | Major Demand Drivers within 5 Miles.
  • Young Professional Demographic | Active Working Population
  • High Traffic Intersections | Multiple Links to Major Thoroughfares

OVERVIEW

SRS Capital Markets is pleased to present the opportunity to acquire the leasehold interest (building ownership) in Midtown Crossing, a 14,788-square-foot, NNN-leased multi-tenant retail investment located in Houston, Texas. The property sits on a ground lease that has been in place for 22 years with nine years remaining on the current term and four additional five-year extension options. Midtown Crossing is 100% leased, featuring a strong tenant mix with long-term leases, including Gyu-Kaku Japanese BBQ (3,500 SF) and Zalat Pizza (1,687 SF), both with over five years of remaining lease term. Additionally, a new 10-year lease has been signed with Umiya Sushi & Hibachi for the 5,951 SF corner space, with occupancy expected later this year.

FOR SALE DETAILS

PRICE

$4,834,000 USD

PRICE/SF

$327 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Midtown Crossing | Multi-Tenant Leasehold

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

61

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

Commercial

APN/PARCEL ID

1246820010001,1246820010002

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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