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12296 Veterans Memorial Dr 9,472 SF 100% Leased Retail Building Houston, TX 77067 $2,096,785 ($221.37/SF)
Investment Highlights
- Located in an ideal demographic for an auto parts and accessory store and a title loan location
- The property is located within the FM 1960 and I-45 area of north Houston, providing regional connectivity.
- Existing pylon signage enhances tenant exposure to passing traffic.
Executive Summary
ocated in an ideal demographic for an auto parts and accessory store, and a title loan location, the subject property has long been 100% occupied by two national tenants, Advance Auto and Title Max, both leaders in their respective industries. The design of the leases require the tenants to maintain the interior of the leased premises as well as maintain or reimburse landlord for the majority of repairs and maintenance, property taxes and property insurance, thereby making this a very hands-free investment. The below market rents currently being paid by the tenants offer an investor a very stable return through the remaining terms of the leases and significant upside when renewed.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,472 SF
Building Class
C
Year Built
1985
Price
$2,096,785
Price Per SF
$221.37
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.74 AC
Zoning
None - No zoning.
Parking
35 Spaces (3.7 Spaces per 1,000 SF Leased)
Frontage
221’ on Veterans Memorial Dr
Amenities
- Pylon Sign
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1147880020001 | Improvements Assessment | $1,591,562 |
| Land Assessment | $258,952 | Total Assessment | $1,850,514 |
Property Taxes
Parcel Number
1147880020001
Land Assessment
$258,952
Improvements Assessment
$1,591,562
Total Assessment
$1,850,514
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