8805 Broadway St Pearland, TX 77584

Property Details for 8805 Broadway St

Year built

2024

Lot size

0.61 lot acres

Property size

2,377 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 2,377 square foot Chipotle restaurant situated on 0.61 acres in Pearland, Texas. The property boasts a prominent location on Broadway Street, a high-traffic thoroughfare with over 32,000 vehicles passing daily, ensuring excellent visibility and accessibility. This absolute NNN lease with a corporate guarantee from Chipotle offers a passive income stream with a remaining term of 15.2 years, expiring January 31, 2040. The lease commenced January 15, 2025, and includes rent bumps every five years. The property's strong location benefits from its proximity to major retail destinations, including Pearland Town Center, and is surrounded by a dense population base, including schools and Memorial Hermann Pearland Hospital. Pearland's rapid growth is projected to add nearly 10,000 residents within a five-mile radius by 2029, further solidifying the property's long-term value. The affluent community boasts an average annual household income of $141,386 within a three-mile radius. The property's strong demographics, combined with the long-term lease and built-in rent increases, make this a compelling investment opportunity with a 4.50% cap rate and a net operating income (NOI) of $155,000. The building was constructed in 2024. This offering is suitable for a 1031 exchange.