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1632 Broadway St
Pearland, TX 77581
Whataburger | New 15yr Ground Lease w/ Incrs · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- New, 15-Year Low Rent Ground Lease | Options To Extend | Scheduled Rental Increases | Strong Intrinsics | Tenant Building Improvements At Tenant Expe
- Outparcel To Walmart Supercenter | High Traffic Intersection |Dense Retail Corridor
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
• Whataburger Corporate signed lease
• New, 15-year lease with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
• The property’s location, newly constructed improvements, and favorable lease terms contribute to the asset’s strong intrinsic value
• Tenant undertook the construction of the improvements at their sole expense, highlighting their commitment to the site
• New, 15-year lease with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
• The property’s location, newly constructed improvements, and favorable lease terms contribute to the asset’s strong intrinsic value
• Tenant undertook the construction of the improvements at their sole expense, highlighting their commitment to the site
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
3,305 SF
Building Class
B
Year Built
2025
Price
$3,950,000
Price Per SF
$1,195.16
Cap Rate
4.56%
NOI
$180,312
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.71 AC
AMENITIES
- Drive Thru
PROPERTY TAXES
| Parcel Number | 4112-0001-001 | Improvements Assessment | $1,040,970 |
| Land Assessment | $719,030 | Total Assessment | $1,760,000 |
PROPERTY TAXES
Parcel Number
4112-0001-001
Land Assessment
$719,030
Improvements Assessment
$1,040,970
Total Assessment
$1,760,000
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