19550 Restaurant Row Houston, TX 77084
- Retail properties
- 45,000 SF
- 3.78 lot acres
Current Use by Public Records
- LA Fitness / Gym
- SafeSplash Swim School - Katy / Swimming Instructor
Property Details for 19550 Restaurant Row
- Year built
- 2005
- Lot size
- 3.78 lot acres
- Property size
- 45,000 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, 45,000-square-foot LA Fitness in Houston, Texas. Located at 19550 Restaurant Row, 77084, this freestanding health club boasts a strong 11-year remaining lease term (expiring 10/30/2035) with three 5-year renewal options. The tenant, LA Fitness, enjoys a corporate guarantee and a stable S&P rating of 'B'. The property, built in 2005 and situated on a 3.78-acre lot, benefits from a recent lease extension executed in 2020, demonstrating the tenant's long-term commitment. Rent increases are capped at the lesser of CPI or 10% every five years, providing predictable income growth. The property's strong financial performance is reflected in its 7.00% cap rate and $816,750 NOI. The asking price is $11,667,857 ($259.29/SF). The location is strategically positioned near numerous national and local retailers, including Ashley Furniture, At Home, H-E-B, Kohl's, and many more, serving a dense population with high average household income. This is a rare opportunity to acquire a high-quality, net-leased asset with a proven track record and significant upside potential. 100% occupancy ensures immediate cash flow.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.7126
- Latitude
- 29.7878
