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Abs. NNN Lease Conoco | Houston, TX 1324 Harris Ave 9,000 SF Retail Building Pasadena, TX 77506 $5,963,000 ($662.56/SF) 7% Cap Rate
Investment Highlights
- 18 Years Remaining on Absolute NNN Lease; 12.5% Rent Increases Every 5 Years in Primary Term and Option Periods
- Fee Simple; Land and Building Ownership; Qualifies for Bonus Depreciation (Consult with a Tax Professional)
- Dense Infill Houston, TX Location; Over 253,000 Residents within 5 Miles; Over 10,250 Cars Per Day along Harris Avenue Road
- Strong Lease Guaranty; 80+ Unit Operator; Contact Broker for Details
- Large 9,000 Square Feet Convenience Store with 8 Pumps; Oversized 1.25 Acre Lot
- Transportation Fuel and Maintenance is the 2nd Highest Consumer Expenditure within 1 Mile: ~28.5% of all Spending
Executive Summary
1324 Harris Avenue in Pasadena, Texas, offers a strong retail investment in the Houston metro area. The property is secured by an absolute NNN lease with about 18 years remaining, providing stable, long-term income. Scheduled rent increases of 12.5% every five years add to the property’s growth potential.
The site includes a 9,000-square-foot convenience store with eight fueling stations on a 1.08-acre lot, supported by ample parking. Located on a busy corridor with over 10,250 vehicles per day and a population of more than 253,000 within five miles, the property benefits from excellent visibility and strong consumer demand.
Backed by an experienced operator with 80+ locations, this asset offers reliable tenancy and qualifies for bonus depreciation (consult a tax professional). With a 7% cap rate, this is a compelling opportunity for investors seeking a secure, income-producing property in a high-traffic Houston-area location.
The site includes a 9,000-square-foot convenience store with eight fueling stations on a 1.08-acre lot, supported by ample parking. Located on a busy corridor with over 10,250 vehicles per day and a population of more than 253,000 within five miles, the property benefits from excellent visibility and strong consumer demand.
Backed by an experienced operator with 80+ locations, this asset offers reliable tenancy and qualifies for bonus depreciation (consult a tax professional). With a 7% cap rate, this is a compelling opportunity for investors seeking a secure, income-producing property in a high-traffic Houston-area location.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,000 SF
Building Class
B
Year Built
2011
Price
$5,963,000
Price Per SF
$662.56
Cap Rate
7%
NOI
$417,431
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.08 AC
Parking
30 Spaces (3.33 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0720800050003 | Improvements Assessment | $1,661,358 |
| Land Assessment | $703,185 | Total Assessment | $2,364,543 |
Property Taxes
Parcel Number
0720800050003
Land Assessment
$703,185
Improvements Assessment
$1,661,358
Total Assessment
$2,364,543
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Abs. NNN Lease Conoco | Houston, TX | 1324 Harris Ave
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