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    15301 Gulf Fwy Houston, TX 77034

    Sponsored
    For Sale
    $5,000,000

    High-Cap Rate Event Venue, Houston TX

    Property size:
    10,780 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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 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

    HighLights

    • 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.
    • 135 parking spaces.
    • Asking price: $5,000,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Palms Event Center Wedding Venue The Palms Event Center Event Venue

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

    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

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    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.
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    15301 Gulf Fwy Houston, TX 77034
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    Houston, TX 77034
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    15301 Gulf Fwy Houston, TX 77034
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