5818 Richmond Ave - Fast Food FOR SALE


Houston, TX 77057- Uptown Houston
$1,597,000 USD
415-481-0377
5818 Richmond Ave, Houston, TX for Sale
$1,597,000 USD
Fast Food - FOR SALE
1/4
null | 5% Cap Rate

5818 Richmond Ave
Houston, TX 77057
Uptown Houston


HIGHLIGHTS

  • Absolute NNN ground lease – zero Landlord maintenance or expense responsibilities
  • 10% rent increases every 5 years in the remaining base term with the next occurring March 2029
  • Taco Bell opened at this location in 1994, providing a long-term customer base for over 30 years of its operation
  • Large & established operator: MAS Restaurant Group operates 75+ locations across the Houston MSA and Ohio
  • Positioned along Richmond Ave (38,446 VPD), with direct access to Interstate 69 (295,822 VPD) via Fountain View Drive and Interstate 10 (217,486 VPD)
  • 1.5 miles from the Houston Galleria — Texas’ largest mall at 2.4 million square feet with 400+ retailers

OVERVIEW

A long-standing Taco Bell with 32-year operating history, situated in Houston’s Galleria corridor and surrounded by 229,185 residents within a 3-mile radius. The original lease was executed in 1993 and most recently amended with a new 20-year term commencing in 2019 featuring 10% rent increases every 5 years for the remainder of the base term. The property is positioned along Richmond Ave (38,446 VPD), the site provides convenient access to both Interstate 69 and Interstate 10. The property sits 1.5 miles from the Houston Galleria, Texas’ largest mall at 2.4M SF and within 5 miles of three Fortune 500 HQs, including Westlake (1 mile), Phillips 66 (2.5 miles), and ConocoPhillips (5 miles). It also benefits from average household incomes of $148,492 within a 3-mile radius and its proximity to Houston’s Energy Corridor further strengthens the trade area.

FOR SALE DETAILS

PRICE

$1,597,000 USD

PRICE/SF

$941 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

None

APN/PARCEL ID

0731870000056

ASK ABOUT THIS PROPERTY

Andrew KlontzCP Partners CREMore Info
415-481-0377

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Andrew KlontzCP Partners CREMore Info
415-481-0377

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