15301 Gulf Fwy Houston, TX 77034
Call to check price and availability
High-Cap Rate Event Venue, Houston TX
Property size:
10,780 SFProperty Features for 15301 Gulf Fwy
General Information
- Property type
- Restaurants
- Square Feet
- 10,780 SF
- Lot Size
- 71,090 SF
Building Details
- Year Built
- 1996
Listing Agent: Jason Kieschnick
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents the Palms Event Center, a thriving 10,780-square-foot bar and restaurant located at 15301 Gulf Fwy, Houston, TX 77034. Currently leased to D'Gala Event Centers, a reputable Houston-based event venue operator with multiple locations, this property boasts a strong 7.20% cap rate and a substantial net operating income (NOI) of $360,000. The lease, a NNN (Net, Net, Net) agreement, runs until December 31, 2026, offering a remaining term of approximately 2.1 years. Built in 1996, the property sits on a 1.632-acre lot and includes 135 parking spaces, ensuring ample convenience for patrons. The building features a fully equipped kitchen and upscale interior finishes, perfectly suited for its current use as a premier wedding and event venue. The property benefits from excellent visibility, situated along the Gulf Freeway with exposure to over 124,000 vehicles daily. The lease includes rent bumps, providing future income growth potential. This is a rare chance to acquire a high-performing, well-located commercial property in a thriving Houston market. The asking price is $5,000,000.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Palms Event Center
Wedding Service
The Palms Event Center
Hotel & Motel
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.18626788
- Latitude
- 29.58895769
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - High-Cap Rate Event Venue, Houston TX
Where is this restaurant located?
The property is located at 15301 Gulf Fwy Houston, TX.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 10,780 SF bar & restaurant on 1.632 acres at 15301 Gulf Fwy, Houston, TX 77034.; NNN lease to D'Gala Event Centers through 12/31/2026 (approx. 2.1 years remaining).; 7.20% cap rate, $360,000 NOI.
