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Fogo De Chao 222 W Grand Pky S 8,573 SF Retail Building Katy, TX 77494 $8,000,000 ($933.16/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15-Year Lease | Options To Extend | Scheduled Rental Increases
- Interstate 10 (215,000+ VPD) | Excellent Visibility | Significant Street Frontage
- Direct, Affluent Consumer Base | Strong Demographics In 5-Mile Trade Area
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Adjacent To Costco Wholesale (150,000+ SF) | Retail Corridor |Strong National/Credit Tenant Presence
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, newly-renovated Fogo de Chao investment property located in Katy, Texas (Houston MSA). The tenant, Fogo de Chao Churrascaria (Katy) LLC, recently signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,573 SF
Building Class
B
Year Built
2017
Price
$8,000,000
Price Per SF
$933.16
Cap Rate
6.25%
NOI
$500,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.50 AC
Zoning
Commercial
Parking
108 Spaces (12.6 Spaces per 1,000 SF Leased)
Frontage
198’ on West Grand Parkway South
AMENITIES
- Freeway Visibility
- Restaurant
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1346160080002 | Improvements Assessment | $1,611,105 |
| Land Assessment | $2,288,895 | Total Assessment | $3,900,000 |
PROPERTY TAXES
Parcel Number
1346160080002
Land Assessment
$2,288,895
Improvements Assessment
$1,611,105
Total Assessment
$3,900,000
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Fogo De Chao | 222 W Grand Pky S
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