8002 Texas 6 Houston, TX 77083
- Retail properties
- 2,642 SF
- 0.75 lot acres
Current Use by Public Records
- Retail properties
Property Details for 8002 Texas 6
- Year built
- 1994
- Lot size
- 0.75 lot acres
- Property size
- 2,642 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 20-year absolute net ground leaseback for a Popeyes restaurant with a drive-thru. Located in Houston, Texas, at 8002 S Texas 6, this Class A property boasts 2,642 square feet on a 0.75-acre lot, built in 1994. The property enjoys a prime location along a major retail corridor with daily traffic exceeding 50,000 vehicles, ensuring high visibility and accessibility. The strong tenant, a Popeyes franchisee, benefits from a densely populated and affluent area with an average household income exceeding $80,000 and over 373,000 residents within a 5-mile radius. Proximity to major retailers like Kroger, H-E-B, Home Depot, and numerous schools further enhances the property's appeal. The lease features a 5.25% cap rate, a $156,000 annual net operating income (NOI), and attractive 7.5% rent bumps every five years throughout the initial term and options. The asking price is $2,971,429, translating to $1,124.69 per square foot. This is a rare opportunity to acquire a stable, high-performing investment with significant long-term growth potential. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any diversified portfolio.
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
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.6443
- Latitude
- 29.6922
