Current Use by Public Records
- Salad and Go / Restaurant
Property Details for 3011 Fm 1764 Rd
- Year built
- 2024
- Lot size
- 0.75 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a newly constructed (2024), 865-square-foot Salad and Go restaurant in La Marque, Texas. Located at 3011 FM 1764, this Class A property sits on a 0.75-acre lot and boasts 10 parking spaces. The property benefits from a 20.1-year absolute NNN ground lease with a corporate guarantee, commencing June 15, 2024, and expiring June 30, 2044. The lease includes 10% rent bumps every five years and three 5-year renewal options. The current asking price is $1,905,000, representing a price per square foot of $2,202.31 and a 6.30% cap rate, with a current NOI of $120,000. The property is situated in a rapidly growing area, experiencing a 178% population increase within a one-mile radius since 2010, with average household incomes exceeding $126,000 annually. This prime location is across from a Walmart-anchored retail center and is part of a larger commercial development including restaurants, a bank, and a 12,000-seat concert venue. The property's strategic location near the Emmett F Lowry Expressway and I-45 interchange provides excellent visibility and accessibility. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a thriving Texas market. The property is currently 100% occupied, with occupancy commencing June 1, 2024.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- La Marque
- County
- Galveston
- State
- Texas
- Longitude
- -95.0372
- Latitude
- 29.3994
