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Red Lobster 888 W Bay Area Blvd 7,835 SF Retail Building Webster, TX 77598 $5,385,800 ($687.40/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN lease with ±13.75 years remaining and 2% annual rent increases.
- High-visibility location with ±37,000 VPD on W Bay Area Blvd and near I-45.
- Proximity to Baybrook Mall, a super-regional center with 200+ retailers.
- Corporate-guaranteed lease by Red Lobster with 545+ locations nationwide.
- Affluent area with average household income exceeding $113,000 within 5 miles.
- Located in Houston MSA, the 5th largest and fastest-growing metro in the U.S.
Executive Summary
Patrick Graham
Matthews Real Estate Investment Services, Inc
License # 9005919, 528005 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 9005919, 528005 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,835 SF
Building Class
B
Year Built
2001
Price
$5,385,800
Price Per SF
$687.40
Cap Rate
6%
NOI
$323,148
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
2.23 AC
Parking
110 Spaces (14.04 Spaces per 1,000 SF Leased)
Frontage
583’ on Bay Area Blvd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Before there was Red Lobster, there was Bill Darden, a man passionate about making delicious, high-quality seafood available and affordable to everyone, including people who lived far from the coast and regardless of race, gender, religion or economic means. What was once a single, family-owned restaurant in Lakeland, Florida, now has locations around the world.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 0361750000005 | Improvements Assessment | $943,396 |
| Land Assessment | $2,912,850 | Total Assessment | $3,856,246 |
Property Taxes
Parcel Number
0361750000005
Land Assessment
$2,912,850
Improvements Assessment
$943,396
Total Assessment
$3,856,246
(866) 889-0550
x4073
Contacts
-
Dylan Freeney -
Brett Baumgartner -
Josh Bishop -
Matthews Real Estate Investment Services
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Red Lobster | 888 W Bay Area Blvd
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