7300 Greens Rd Houston, TX 77064
- Retail properties
- 47,988 SF
- 5.51 lot acres
Current Use by Public Records
- Hri At Q the Sports Club / Sports Club / Sports Activity Location
- 24 Hour Fitness / Fitness Center / Indoor Cycling
- Mia Belly Dance / Dance Company
- Brent Engelage / Physical Therapist
Property Details for 7300 Greens Rd
- Year built
- 1994
- Lot size
- 5.51 lot acres
- Property size
- 47,988 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, absolute triple-net (NNN) leased 24 Hour Fitness facility in Houston, Texas. Located at 7300 W Greens Rd, this two-story, 47,988 square foot building sits on a 5.51-acre lot in a high-traffic area with over 120,000 vehicles per day passing on Highway 249. The property boasts a strong location, further enhanced by the recent addition of a 400,000 square foot Amazon delivery center, driving significant job growth in the area. Built in 1994 and renovated in 2018, this property offers a long-term lease with 24 Hour Fitness USA, Inc., with 6.5 years remaining on the initial term. The lease includes two 5-year renewal options, with a 14% rent increase scheduled for 2026 and fair market value increases in subsequent option periods. The current asking price is $6,850,000, representing a price per square foot of $142.74 and an attractive 8.00% cap rate, with a current NOI of $548,004. The property's Harris County APN is 1180520010001. This is a rare opportunity to acquire a high-performing, single-tenant net lease property in a rapidly growing market. The property's prime location and strong tenant covenant make it an ideal addition to any investment 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
- -95.5365
- Latitude
- 29.9553
