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3486 Discovery Creek Blvd
Spring, TX 77386
The Republic Grille | 20yr NNN · Retail Property For Sale
Investment Highlights
- New 20-Year Absolute NNN Lease Commencing at Close of Escrow w/ Zero Landlord Responsibilities
- 2% Annual Rent Increases Plus Four (4) Five-Year Renewal Options for Up to 20 Additional Years
- Located in the Affluent Spring/The Woodlands Submarket With ~$176K Average Household Income Within 1-Mile
- Extremely Low Rent-to-Sales Ratio and Strong Approximate 2.50x EBITDAR Coverage Ratio
- Newer High-Quality 2020 Construction, ±6,198 SF Building Plus ±1,620 SF Patio on ±0.95 Acres
- Just 3 Miles From ExxonMobil's 385-Acre Corporate Headquarters (10,000-Person Campus)
Executive Summary
Marcus & Millichap is pleased to present a freestanding The Republic Grille located at 3486 Discovery Creek Blvd in Spring, Texas, positioned within the affluent Spring/The Woodlands submarket of the Greater Houston MSA and just three miles from ExxonMobil's 385-acre corporate headquarters. The property will be secured by a brand-new 20-year absolute NNN lease commencing at close of escrow, offering investors zero landlord responsibilities and fully passive income, with the tenant maintaining an extremely low rent-to-sales ratio and a strong approximate 2.50x EBITDAR coverage ratio.
The ±6,198 SF building, plus a ±1,620 SF patio, sits on a ±0.95 acre lot built in 2020 with high-quality construction, strong visibility, and ample onsite parking. Located near H-E-B, Walmart, Target, Costco, and the Woodlands medical corridor, and surrounded by affluent master-planned communities including Harmony, Benders Landing, Imperial Oaks, and The Woodlands, the site draws from a dense, high-income residential base with average household income of approximately $176,000 within a one-mile radius. With scheduled 2% annual rent increases, four five-year renewal options, and an award-winning regional restaurant brand, this offering provides long-term, inflation-protected cash flow in one of Houston's fastest-growing residential corridors.
The ±6,198 SF building, plus a ±1,620 SF patio, sits on a ±0.95 acre lot built in 2020 with high-quality construction, strong visibility, and ample onsite parking. Located near H-E-B, Walmart, Target, Costco, and the Woodlands medical corridor, and surrounded by affluent master-planned communities including Harmony, Benders Landing, Imperial Oaks, and The Woodlands, the site draws from a dense, high-income residential base with average household income of approximately $176,000 within a one-mile radius. With scheduled 2% annual rent increases, four five-year renewal options, and an award-winning regional restaurant brand, this offering provides long-term, inflation-protected cash flow in one of Houston's fastest-growing residential corridors.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,198 SF
Building Class
C
Year Built
2020
Price
$3,440,000
Price Per SF
$555.02
Cap Rate
6.25%
NOI
$215,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.00 AC
Zoning
None
Parking
63 Spaces (10.16 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
Property Taxes
| Parcel Number | 5711-90-00100 | Improvements Assessment | $1,497,636 |
| Land Assessment | $402,364 | Total Assessment | $1,900,000 |
Property Taxes
Parcel Number
5711-90-00100
Land Assessment
$402,364
Improvements Assessment
$1,497,636
Total Assessment
$1,900,000
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