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15301 Gulf Fwy Houston, TX 77034

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For Sale
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High-Cap Rate Event Venue, Houston TX

Property size:
10,780 SF

Property 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

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Listing Contact
Jason Kieschnick
Jason Kieschnick

Listing Agent: Jason Kieschnick

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

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Property Insight Report

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

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

Location Insight

  • Map
  • Local Demand
City
Houston
County
Harris
State
Texas
Longitude
-95.18626788
Latitude
29.58895769

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.
(281) 280-8088 Call to check price and availability
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