2920 And State Rte Tomball, TX 77375
- Retail properties
- 783 SF
- 0.43 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2920 And State Rte
- Year built
- 2024
- Lot size
- 0.43 lot acres
- Property size
- 783 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 783 square foot, single-tenant, absolute NNN ground lease property located at the northeast corner of FM 2920 and State Route 249 in Tomball, Texas. The property boasts a new 20-year corporate lease (commencing August 12, 2024 and expiring July 31, 2044) with a prominent QSR tenant, Salad and Go, a rapidly expanding brand with over 135 locations. The lease includes 10% rent increases every five years, ensuring consistent income growth. The property features a 6.00% cap rate and a strong NOI of $90,000. Built in 2024, this 0.43-acre site benefits from a high-traffic location with combined average annual daily traffic of 38,368 on FM 2920/West Main Street and State Route 249B, and an additional 46,235 on State Route 249, capturing significant commuter traffic. The property's strategic location within a thriving retail corridor places it near major national retailers such as Walmart, Lowe's, Target, Kroger, and H-E-B, as well as other QSR establishments. The area also boasts significant employment opportunities with Lone Star College-Tomball, Tomball Independent School District, and HCA Houston Healthcare Tomball, all within close proximity. With a population of 106,541 residents within a five-mile radius and an average annual household income of $136,329, this property offers exceptional long-term investment potential. The asking price is $1,500,000. This is an ideal 1031 exchange opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tomball
- County
- Harris
- State
- Texas
- Longitude
- -95.6318
- Latitude
- 30.0894
