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Crash Champions (Absolute Net Lease) 7323 N Grand Pky 13,831 SF Retail Building Spring, TX 77379 $5,422,000 ($392.02/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Net Lease With 12.7 Years Remaining & 10 Percent Rent Increases Every 5 Years
- 2020 Construction Freestanding Building on an Oversized 1.47-Acre Parcel
- Thriving North Houston Submarket – 233,000 Residents Within 5 Miles (58 Percent Growth Since 2010; +5.2 Percent Projected Through 2029)
- Corporate Guaranty From a National Operator With 600+ Locations
- Excellent Frontage on Grand Parkway (83,214 VPD)
- Dense Retail Corridor Anchored by Grand Parkway Marketplace
EXECUTIVE SUMMARY
Offered for sale is the opportunity to acquire an absolute net lease Crash Champions in Spring, TX. The property consists of a 13,831-square-foot, freestanding building that sits on approximately 1.47 acres of land. There are 12.7 years remaining on the lease with 10% rental increases every five years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
13,831 SF
Building Class
B
Year Built
2020
Price
$5,422,000
Price Per SF
$392.02
Cap Rate
6.50%
NOI
$352,378
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.47 AC
Parking
53 Spaces (2.53 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1301210120008 | Improvements Assessment | $0 |
| Land Assessment | $5,303,860 | Total Assessment | $5,303,860 |
PROPERTY TAXES
Parcel Number
1301210120008
Land Assessment
$5,303,860
Improvements Assessment
$0
Total Assessment
$5,303,860
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Crash Champions (Absolute Net Lease) | 7323 N Grand Pky
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