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Sonic Automotive | 17+yrs Remain Corp NNN 3131 Richmond Ave 3,558 SF Retail Building Houston, TX 77098 $5,426,000 ($1,525.01/SF) 5.75% Cap Rate
Investment Highlights
- 17+ Years Remaining | Corporate Guaranteed Lease | Options To Extend | Scheduled Rental Increases
- Greenway Commons | Dense Retail Corridor | Proximity To Large Multi-Family Developments
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Extremely Strong Demographics In The Immediate Trade Area
Executive Summary
• Sonic Automotive Inc. Corporate (NYSE: SAH) guaranteed lease
• 17+ years remaining with 2 (5-year) option periods to extend
• The lease features annual rental increases through 2028 then rental increases every 5 years for the remainder of the term
• The property’s roof was replaced in 2022 with a new TPO roofing system
• 17+ years remaining with 2 (5-year) option periods to extend
• The lease features annual rental increases through 2028 then rental increases every 5 years for the remainder of the term
• The property’s roof was replaced in 2022 with a new TPO roofing system
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,558 SF
Building Class
C
Year Built
1959
Price
$5,426,000
Price Per SF
$1,525.01
Cap Rate
5.75%
NOI
$312,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.65 AC
Zoning
None - Houston has no formal zoning laws
Parking
32 Spaces (8.99 Spaces per 1,000 SF Leased)
Frontage
127’ on Richmond Ave
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Sonic Automotive
- Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Sonic Automotive | Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (85)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $241,851 | |
| Land Assessment | $2,669,820 | Total Assessment | $2,911,671 |
Property Taxes
Parcel Numbers
Land Assessment
$2,669,820
Improvements Assessment
$241,851
Total Assessment
$2,911,671
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Sonic Automotive | 17+yrs Remain Corp NNN | 3131 Richmond Ave
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