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    Drive-Through Restaurant with Absolute NNN Title is generated by Realmo AI

    5818 Richmond Avenue, Houston, TX 77057

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    For Sale
    $1,597,000

    Absolute NNN ground lease with a 20-year term and scheduled rent increases, anchored by an operating drive-through Taco Bell.

    Type:Retail
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:34 am

    Property Features for 5818 Richmond Avenue

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Andrew Klontz

    Listing agent Andrew Klontz License #CalDRE #02051441

    Listing office ParaSell, Inc.

    Listing date Jun 3, 2026

    Source Cppcre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of ParaSell, Inc.

    HighLights

    • Absolute NNN ground lease with a 20‑year term; landlord has zero maintenance or expense responsibilities
    • Scheduled rent increases of 10% every 5 years; next increase is March 2029
    • Taco Bell opened at this location in 1994 and remains anchored by the long‑term operator MAS Restaurant Group
    • Lease original executed in 1993 and most recently amended with the current 20‑year term commencing in 2019
    • Site frontage on Richmond Ave with 38,446 VPD and direct access to I‑69 via Fountain View Drive (295,822 VPD) and I‑10 via Chimney Rock Road (217,486 VPD)
    • Located 1.5 miles from the Houston Galleria (2.4M SF) and within the Houston MSA

    Overview

    This for-sale property is an absolute NNN ground lease drive-through restaurant site leased since 1993 and most recently amended with a new 20-year term commencing in 2019. The lease includes 10% rent increases every five years for the remainder of the base term, with the next scheduled increase occurring in March 2029. The NNN structure is described as “zero landlord maintenance or expense responsibilities,” positioning the landlord for no maintenance or expense obligations under the ground lease terms.

    The property is positioned along Richmond Avenue, with CoStar traffic counts cited at 38,446 VPD. The listing also notes direct access to Interstate 69 via Fountain View Drive (295,822 VPD) and Interstate 10 via Chimney Rock Road (217,486 VPD). The site is identified as approximately 1.5 miles from the Houston Galleria.

    For investors seeking an operator-driven retail asset structured on an absolute NNN ground lease, this configuration offers a long-established, drive-through use with rent escalations tied to the remaining base term. The listing indicates Taco Bell opened at the location in 1994 and has operated there for decades, supported by the long-term customer base described in the offering materials.
    Location Intelligence

    Current Use by Public Records

    Taco Bell Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.4817391
    Latitude
    29.7319147

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    FAQs

    What type of property is this?
    Drive through restaurant - Absolute NNN ground lease with a 20-year term and scheduled rent increases, anchored by an operating drive-through Taco Bell.
    Where is this drive through restaurant located?
    The property is located at 5818 Richmond Avenue Houston, TX.
    What is the asking price?
    The asking price for this property is $1,597,000.
    What are key features of this property?
    This property features: Absolute NNN ground lease with a 20‑year term; landlord has zero maintenance or expense responsibilities; Scheduled rent increases of 10% every 5 years; next increase is March 2029; Taco Bell opened at this location in 1994 and remains anchored by the long‑term operator MAS Restaurant Group
    (301) 502-7966
    We can help!
    Listing Contact
    Andrew Klontz
    Real Estate License ID: CalDRE #02051441
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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