1406 Richmond Rd Wharton, TX 77488

This exceptional investment opportunity presents a fee-simple ownership of a 2,546 square foot Chicken Express restaurant located at 1406 N Richmond Rd, Wharton, TX 77488. The property sits on a 1.06-acre lot with 33 parking spaces and boasts a 20-year absolute NNN lease commencing July 30, 2024, and expiring July 31, 2044, with four additional five-year renewal options. The lease includes annual 2% rent bumps, providing a strong hedge against inflation. The current annual net operating income (NOI) is $152,550, representing a 6.50% cap rate on the asking price of $2,346,923 ($921.81 per square foot). Built in 2007 and renovated in 2016, this Class A property is situated in a high-traffic area with over 14,000 vehicles daily on N. Richmond Rd and over 17,000 on E. Boling Highway. The location benefits from strong demographics, including over 12,500 people within a 5-mile radius with an average household income exceeding $76,000 annually. Proximity to Wharton County Junior College and significant industrial/office space further enhances the property's value. The tenant, a 10-unit operator with experience in restaurant operations, franchising, real estate, and logistics, provides a strong personal guaranty. This is a single-tenant, 100% occupied property zoned Commercial F-1. The property's location offers easy access to the major population center of Houston, Texas. This is an ideal asset for a 1031 exchange, given Texas's income tax-free status and strong economy.