10308 Airline Dr Houston, TX 77037-1302

Property Details for 10308 Airline Dr

Year built

1960

Construction

WOOD FRAME

Lot size

0.27 lot acres

Property size

3,792 SF

Property type

Commercial real estate

APN

710550020122

APU

710550020122

Description

This exceptional investment opportunity presents a 7,200 square foot O'Reilly Auto Parts retail building situated on a 0.85-acre lot in Houston, Texas. Built in 2009, the property boasts a strong 100% occupancy rate with a Net Net lease in place. The asking price is $2,120,000, translating to a price per square foot of $294.44 and a compelling 5.85% cap rate, based on a current Net Operating Income (NOI) of $124,005. The lease features a significant remaining term of over seven years, providing long-term stability and predictable cash flow. The property enjoys excellent visibility and accessibility, with direct frontage on Airline Drive, experiencing over 20,000 vehicles per day. Its strategic location within a densely populated area, boasting over 300,000 residents within a 5-mile radius and 1.1 million within 10 miles, ensures consistent customer traffic. Furthermore, its proximity to Interstate 45 and other major retailers such as Aldi, Chick-fil-A, McDonald's, Academy, and Walmart, enhances its appeal and market position. This investment-grade tenant, rated BBB by Standard & Poor, offers a rare combination of strong performance, secure lease terms, and a prime location, making it an ideal addition to any portfolio. The property address is 10308 Airline Dr, Houston, TX 77037.