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Mavis 12650 Texas 249 7,000 SF 100% Leased Retail Building Houston, TX 77086 $2,427,000 ($346.71/SF) 5.15% Cap Rate
Investment Highlights
- Brand-new 15-year absolute net ground lease featuring 10% rental increases every 5 years
- Pad to top performing Kroger location – top 3% of grocery stores nationwide in terms of annual visits (per Placer.ai)
- Dense residential trade area – 319,000+ residents within a 5-mile radius of the subject property
- Corporate guaranty from tenant’s parent company
- Significant visibility on signalized hard corner intersection – 41,000+ VPD
- Low rent relative to other new construction Mavis comps which are $165-175K+
Executive Summary
Brand-new 15-year absolute net ground lease Mavis featuring 10% rental increases every 5 years throughout the base term and options. The tenant is a leader in the automotive service industry with 70+ years of experience.
Property Facts
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,000 SF
Building Class
B
Year Built
2025
Price
$2,427,000
Price Per SF
$346.71
Cap Rate
5.15%
NOI
$125,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.15
Lot Size
1.07 AC
Zoning
C - Commercial District
Parking
10 Spaces (3.45 Spaces per 1,000 SF Leased)
Nearby Major Retailers
Property Taxes
| Parcel Number | 1222010010049 | Improvements Assessment | $92,016 |
| Land Assessment | $929,480 | Total Assessment | $1,021,496 |
Property Taxes
Parcel Number
1222010010049
Land Assessment
$929,480
Improvements Assessment
$92,016
Total Assessment
$1,021,496
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Mavis | 12650 Texas 249
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