Current Use by Public Records
- Retail properties & Spaces
Property Details for 16675 I-45
- Year built
- 2015
- Lot size
- 7.80 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a 35,000 square foot Class A, single-tenant MINI dealership in Conroe, Texas. Located at 16675 I-45, this property boasts a prime location on a major retail corridor with 150,000 vehicles passing daily. The property is situated on a 7.8-acre lot and benefits from a ground lease with zero landlord responsibilities. The absolute NNN lease with MINI of The Woodlands (part of AutoNation, generating $26.9 billion in annual revenue) has a remaining term of 6.1 years, with three 5-year renewal options. Rent increases are structured at 5% every five years during the primary term and 10% every five years during renewals. The property features a 6.50% cap rate and a net operating income (NOI) of $749,957, with an asking price of $11,538,000 ($329.66/sq ft). Built in 2015, the property benefits from its location within The Woodlands, a thriving master-planned community experiencing significant population growth (52% within a 3-mile radius since 2010) and boasting high average household incomes ($142,000 within a 5-mile radius). The area is home to The Woodlands Mall (8.8 million annual visits) and is conveniently located near major retailers such as Walmart, Lowe's, and Chick-fil-A, as well as other luxury auto dealerships. This investment offers a compelling combination of strong tenant performance, significant upside potential, and a desirable location in a rapidly growing market. The property's strategic location and long-term lease provide investors with a secure and profitable investment opportunity.
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
- Conroe
- County
- Montgomery
- State
- Texas
- Longitude
- -95.4553
- Latitude
- 30.2136
