1935 Avenue D, Katy, TX 77493

Property Details for 1935 Avenue D

Year built

2024

Lot size

0.61 lot acres

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,000 square-foot HTeaO restaurant in Katy, Texas. The property boasts a 15-year net lease (NNN) with a strong tenant, HTeaO, the nation's largest privately held iced tea franchisor. The lease commenced December 1st, 2024, and expires November 30th, 2039, featuring three, five-year renewal options and 10% rent bumps every five years. The property sits on a 0.61-acre lot and enjoys 100% occupancy, generating a Net Operating Income (NOI) of $143,557 and a 6.25% cap rate. Built in 2024, this build-to-suit location is strategically positioned in Harris County, Texas (zip code 77493), at 1935 Avenue D, within the fastest-growing school district in Houston, near major retail corridors (including 6.9 million square feet of existing retail and the new 80-acre Katy Boardwalk District), and benefits from high visibility (31,000+ vehicles per day) and proximity to significant amenities such as a new water park, Katy Mills Mall, and new residential developments. This location is the first HTeaO in Katy and the only one within a 30-mile radius, capitalizing on a captive consumer base. The property's exceptional performance is evidenced by its ranking among the top 10 nationally in store sales during its first month of operation. The absence of state income tax further enhances the investment's attractiveness. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a rapidly expanding market. Asking price is $2,296,912.

Location Insight

City

Katy

County

Harris

State

Texas

Longitude

-95.8253

Latitude

29.8012