EL POLLO LOCO GROUND LEASE - Fee 5321 S Rice Ave 2,964 SF 4-Star Retail Building Houston, TX 77081 $2,998,000 ($1,011.47/SF) 5.21% Cap Rate

Single-tenant free standing retail building built in 2015 with approximate 2,964 square foot, on approximately 0.85 acres of land. The existing lease is a 20-year, NNN corporate ground lease to El Pollo Loco, Inc. with 9+ years remaining followed by four 5-year renewal options. There are 10% rent increase every five years includes the options.
Located in the heart of Houston Texas, directly across from Sam's Club, this property is a part of Uptown Crossing the new Walmart-anchored development adjacent to the I-69 and I-610 interchange, along the Westpark Tollway in close proximity to three of Houston's most prestigious and densely populated neighborhoods - the Galleria, West University and Bellaire. Uptown Crossing is a 38-acre mixed-use development anchored by Walmart Supercenter, adjacent to the Uptown District of Houston, the 14th largest business district in the United States. Uptown is home to more than 180,000 people and offers 28+ million square feet of office space, 34 hotels and 5+ million square feet of retail space, including the Galleria, the 4th-largest retail complex in the country which draws more than 24 million people annually. The Property provides an investor the rare opportunity to secure a passive net-leased investment, while at the same time acquiring premier urban infill real estate in Houston, Texas, one of the most sought after markets in the United States.