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Sun Auto 1211 Northpark Dr 10,729 SF Retail Building Kingwood, TX 77339 $6,360,000 ($592.79/SF) 6.30% Cap Rate
Investment Highlights
- 8+ years remaining on absolute net lease featuring 10% rental increases every 5 years providing investors a hedge against inflation
- Internet & recession resistant industry – consumers defer new vehicle purchases during economic downturns and instead spend on maintenance/repairs
- Dense residential trade area – 128,000 residents within a 5-mile radius of the subject property
- Full-term corporate guaranty from CH Hold Corp. (Caliber Collision) – the largest collision repair provider in the U.S. with 1,800+ locations across 4
- Affluent Houston submarket – $134,000 average household incomes within a 5-mile radius of the subject property
- Situated along Northpark Drive – the main East/West thoroughfare in the trade area that features direct access to I-69/US 59 (99,000 VPD)
Executive Summary
Over 8 years remain on this corporate lease featuring 10% rental increases every 5 years and an absolute net lease structure requiring zero landlord expense or maintenance obligations. The lease is guaranteed by CH Hold Corp. – one of the main operating entities for Caliber Collision, the largest collision repair provider in the country – and lasts through the full term of the lease, including all options/extensions.
Situated along Northpark Drive, the subject property offers high-profile standalone visibility on one of Kingwood’s most heavily traveled commercial corridors (32,500 VPD), with direct access to I-69/US 59 (99,000 VPD).
Situated along Northpark Drive, the subject property offers high-profile standalone visibility on one of Kingwood’s most heavily traveled commercial corridors (32,500 VPD), with direct access to I-69/US 59 (99,000 VPD).
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,729 SF
Building Class
C
Year Built
2019
Price
$6,360,000
Price Per SF
$592.79
Cap Rate
6.30%
NOI
$400,699
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.52 AC
Frontage
244’ on Northpark Drive
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 9762-00-00104 | Improvements Assessment | $3,834,785 |
| Land Assessment | $396,744 | Total Assessment | $4,231,529 |
Property Taxes
Parcel Number
9762-00-00104
Land Assessment
$396,744
Improvements Assessment
$3,834,785
Total Assessment
$4,231,529
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