6907 Farm To Market 1960 Rd Houston, TX 77066
- Retail properties
- 4,064 SF
- 0.96 lot acres
Current Use by Public Records
- Retail properties
Property Details for 6907 Farm To Market 1960 Rd
- Year built
- 2005
- Lot size
- 0.96 lot acres
- Property size
- 4,064 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a chance to acquire a ground leasehold interest in a 4,064-square-foot Wells Fargo bank located at 6907 Farm to Market 1960 Rd W, Houston, Texas 77066. The property, built in 2005 and situated on a 0.96-acre lot, boasts a prime location on a high-traffic retail corridor with over 46,712 vehicles passing daily, ensuring exceptional visibility and accessibility. The current absolute NNN lease with Wells Fargo, a corporate guaranteed tenant, has a remaining term of approximately 1.4 years. The lease commenced April 1, 2006, and expires March 31, 2026, with three, five-year renewal options, each including a 10% rent increase. The current asking price is $4,000,000, representing a price per square foot of $984.25 and a cap rate of 8.65%. The property generates a net operating income (NOI) of $346,060. This is a single-tenant, 100% occupied property offering a stable, long-term investment opportunity with a strong corporate tenant and a history of over 18 years of operation at this location. The lease features scheduled rent bumps, providing built-in growth potential. This is a rare opportunity to acquire a well-established, high-performing asset in a desirable Houston location.
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
- -95.5314
- Latitude
- 29.9691
