McDonalds' (GL), Walgreens & Vacant Bank 2 Retail Properties Offered at $6,305,200 in Houston, TX
EXECUTIVE SUMMARY
SVN | Net Lease is pleased to offer this Rare Walgreen's, Vacant Bank & McDonalds Redevelopment Opportunity at 6671 & 6675 West Bellfort Street / 11311 Fondren Road in Houston, Texas. This is a very highly populated area with 156,000+ people in a (3) Mile Radius and 462,000+ in a (5) Mile Radius. The daily Traffic Counts are 52,000+ at the Intersection of West Bellfort Street / Fondren Road. The Average Household Income is $82,000+ in the (3) Mile Radius.
Walgreen’s recently exercised their (5) Year Option. The Prime Term expires 11.9.2029. This is Store #4927, it was Built in 1999 and is 15,795 SF. With the attached 3,300 SF of the Vacant Bank it is situated on 1.3 Acres.
Walgreen's has a Dual Drive Thru Lane and the Vacant Bank has (6) Drive Thru Lanes.
The McDonald's (Ground Lease) is a (20) Year Prime Term that expires on March 31st, 2029 giving it (5) + Years remaining. It has Dual Drive Thru Lanes and is situated on 1.18 Acres.
As a potential Redevelopment Opportunity on 2.48 Acres with the Hard Corner / Signalized Intersection the existing Walgreen’s / Vacant Bank / McDonalds can be repositioned and other National Retailers can be added. There are no Height Restrictions for new buildings.
$6,305,200.00 – Asking Price (The Value Add Upside of the Vacant Bank is $1,000,000+).
Walgreen’s recently exercised their (5) Year Option. The Prime Term expires 11.9.2029. This is Store #4927, it was Built in 1999 and is 15,795 SF. With the attached 3,300 SF of the Vacant Bank it is situated on 1.3 Acres.
Walgreen's has a Dual Drive Thru Lane and the Vacant Bank has (6) Drive Thru Lanes.
The McDonald's (Ground Lease) is a (20) Year Prime Term that expires on March 31st, 2029 giving it (5) + Years remaining. It has Dual Drive Thru Lanes and is situated on 1.18 Acres.
As a potential Redevelopment Opportunity on 2.48 Acres with the Hard Corner / Signalized Intersection the existing Walgreen’s / Vacant Bank / McDonalds can be repositioned and other National Retailers can be added. There are no Height Restrictions for new buildings.
$6,305,200.00 – Asking Price (The Value Add Upside of the Vacant Bank is $1,000,000+).
PROPERTY FACTS
| Price | $6,305,200 |
| Price / SF | $281.39 / SF |
| Cap Rate | 5.81% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 22,407 SF |
| Total Land Area | 3.68 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 6671-6675 W Bellfort St, Houston, TX 77035 | Retail | 19,095 SF | 1999 | - |
| 11311 Fondren Rd, Houston, TX 77035 | Retail | 3,312 SF | 2009 | - |
