SVN | Net Lease is pleased to offer this Rare Walgreen's, Vacant Bank & McDonalds Redevelopment Opportunity at 6671 & 6675 West Bellfort Street / 11311 Fondren Road in Houston, Texas. This is a very highly populated area with 156,000+ people in a (3) Mile Radius and 462,000+ in a (5) Mile Radius. The daily Traffic Counts are 52,000+ at the Intersection of West Bellfort Street / Fondren Road. The Average Household Income is $82,000+ in the (3) Mile Radius.
Walgreen’s recently exercised their (5) Year Option. The Prime Term expires 11.9.2029. This is Store #4927, it was Built in 1999 and is 15,795 SF. With the attached 3,300 SF of the Vacant Bank it is situated on 1.3 Acres.
Walgreen's has a Dual Drive Thru Lane and the Vacant Bank has (6) Drive Thru Lanes.
The McDonald's (Ground Lease) is a (20) Year Prime Term that expires on March 31st, 2029 giving it (5) + Years remaining. It has Dual Drive Thru Lanes and is situated on 1.18 Acres.
As a potential Redevelopment Opportunity on 2.48 Acres with the Hard Corner / Signalized Intersection the existing Walgreen’s / Vacant Bank / McDonalds can be repositioned and other National Retailers can be added. There are no Height Restrictions for new buildings.
$6,305,200.00 – Asking Price (The Value Add Upside of the Vacant Bank is $1,000,000+).