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Longwood Crossing | Value-Add | NNN 1427 Broadway St 5,226 SF 67% Leased Retail Building Pearland, TX 77581 $3,150,000 ($602.76/SF) 5.30% Cap Rate
Investment Highlights
- Value-Add Opportunity | Options To Extend | Scheduled Rental Increases
- Across From Home Depot Anchored Center | Dense Retail Corridor
- NNN Leases | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, 3-tenant investment property located in Pearland, Texas. The current tenants are Starbucks and Havana Nail Spa with the third suite vacant, providing a value-add opportunity for investors. Both tenants have options to extend with 10% rental increases at the beginning of each option. The leases are NNN, limiting potential expense leakage and allowing for the pass-through of most operating expenses.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,226 SF
Building Class
C
Year Built
2017
Price
$3,150,000
Price Per SF
$602.76
Cap Rate
5.30%
NOI
$166,913
Percent Leased
67%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
0.83 AC
Zoning
GC - General Commercial
Parking
38 Spaces (7.27 Spaces per 1,000 SF Leased)
Frontage
374’ on Broadway St
Amenities
- Restaurant
- Signage
- Drive Thru
- Monument Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
New Plain Vanilla Finish
| Space | Size | Space Use | Position | Available |
| C | 1,740 SF | Retail | In-Line | Now |
C
| Size |
| 1,740 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
C
| Size | 1,740 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
New Plain Vanilla Finish
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1105-0000-001 | Improvements Assessment | $2,361,720 |
| Land Assessment | $188,280 | Total Assessment | $2,550,000 |
Property Taxes
Parcel Number
1105-0000-001
Land Assessment
$188,280
Improvements Assessment
$2,361,720
Total Assessment
$2,550,000
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Longwood Crossing | Value-Add | NNN | 1427 Broadway St
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