Starbucks – GL

Subject Property

6201 Washington Ave
Houston, TX

Price: $3,554,000
Cap Rate: 4.5%
NOI: $159,900
Building Size: Approx. 2,200 Sq. Ft.
Lot Size: Approx. 0.59 Acres
Status: Sale Pending
Type: Single-Tenant / Retail
Sub Category: QSR
Year Built: 2018

Investment Overview

  • 2018 Construction. 2,200+/- SF Building on .59+/- Acre Site
  • New 20-Yr Corp Ground Lease w/ 10% Rent Bumps Every 5-Yrs
  • Located along Washington Ave (19K VPD), just S of I-10 (279K VPD)
  • Subject property is located in the heart of multiple well known districts
  • Near multiple high rise residential units (834) | 4-Miles W of Downtown
  • Attractions: Memorial Park | The Galleria | Uptown Houston | NGR Stadium
  • Major Employers: Air Liquide | BP America  | Shell Oil Co | Exxon Mobil
  • Houston is 2nd to NY City in Fortune 500 HQ’s – Ranked Forbes Top City
  • 3-Mile Radius: 2017 Est Pop: 147,198 l 2-Mile Avg. HH Income:  $175,734
  • Greater Houston ( MSA) | 6TH Largest MSA in the U.S | Pop: 5,946,800