Absolute NNN Ground
New
For Sale
$1,380,000
741 Lawndale St, Houston, TX 77023
O’Reilly Automotive occupies a purpose-built Houston location under an absolute NNN ground lease.
Property Size7,225 SF
Days on Market2
Property Features for 741 Lawndale St
General Information
Standard status
Active
Size
7,225 SF
Property subtype
Commercial
Lease Term
±12.5 Years
Net Operating Income
$69,000
Site & Location
Neighborhood
Greater Eastwood
Highway Access
Yes
Road Access
Yes
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
In-Place Lease Type
Absolute NNN
Current Tenants
O'Reilly Automotive, Inc.
Real Estate Included
Yes
Building Details
Building Size
7,225 SF
Year Built
2009
Tenancy
Single
Listed By:
Vicky Fuenmayor · License #799194 (TX)
(469) 405-3027
Source:
Matthews
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 3 at 2:36PM
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 Vicky Fuenmayor
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2009 for O’Reilly Automotive, this Houston property is subject to an absolute NNN ground lease signed by O’Reilly Automotive, Inc. The lease includes scheduled rent increases, with a 15% increase specified for April 1, 2029, followed by additional increases during option periods.
The property is at Lawndale Street and 75th Street in Houston’s East End. CVS, Family Dollar, and Subway are among the retailers in the surrounding corridor. Walmart Supercenter, Chick-fil-A, Whataburger, and Raising Cane’s are located within one mile along I-45.
The property is at Lawndale Street and 75th Street in Houston’s East End. CVS, Family Dollar, and Subway are among the retailers in the surrounding corridor. Walmart Supercenter, Chick-fil-A, Whataburger, and Raising Cane’s are located within one mile along I-45.
Key Highlights
- Absolute NNN ground lease with O’Reilly Automotive, Inc. as tenant
- Purpose‑built for O’Reilly Automotive in 2009
- Scheduled 15% rent increase on 4/1/2029, with further increases in option periods
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,968
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,959,360
$2.0M
Cap Rate 7%
$1,399,543
$1.4M
Cap Rate 9%
$1,088,533
$1.1M
Market Conditions
NOI Build-Up for 7,225 SF
Gross rent
$148.3K $20.52/SF
− Vacancy
−$8.3K −$1.15/SF
EGI
$140.0K $19.37/SF
− OpEx
−$42.0K −$5.81/SF
NOI
$98.0K $13.56/SF
Area
Houston, TX
Vacancy
5.60%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,959,360
Cap Rate 7%
$1,399,543
Cap Rate 9%
$1,088,533
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,968 @ 7.0% cap · market cap 7.10%
Second Best
Industrial
$582.0K
$509.2K – $679.0K
NOI $40,738 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,050 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Frequently Asked Questions
What type of property is this?
NNN property - O’Reilly Automotive occupies a purpose-built Houston location under an absolute NNN ground lease.
Where is this nnn property located?
The property is located at 741 Lawndale St Houston, TX.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Absolute NNN ground lease with O’Reilly Automotive, Inc. as tenant; Purpose‑built for O’Reilly Automotive in 2009; Scheduled 15% rent increase on 4/1/2029, with further increases in option periods
