1370 Grand S Pkwy Katy, TX 77494-8445

Property Details for 1370 Grand S Pkwy

Year built

2021

Lot size

0.90 lot acres

Property type

Commercial real estate

APN

2952-02-000-0021-914

APU

2952020000021914

Description

This exceptional investment opportunity presents a 5,250-square-foot, single-tenant veterinary emergency facility in Katy, Texas. The property, built in 2021, boasts a strong 100% occupancy rate with a corporate lease to Veterinary Emergency Group (VEG) – a well-established operator with approximately 54 locations across 20 states. The current lease has approximately 8.2 years remaining, featuring 9% rent increases every 5 years, ensuring consistent income growth. The property is strategically located in a high-traffic area, situated as an outparcel to a Kroger-anchored center attracting over 868,000 visitors annually. The location benefits from proximity to major roadways, including TX Hwy 99, and is surrounded by other national retailers such as Wells Fargo, Jack in the Box, Subway, and Starbucks. The 0.89-acre lot offers ample space, and the building itself is of institutional quality construction. The property's strong financial performance is reflected in its $3,844,000 asking price, a 5.25% cap rate, and a Net Operating Income (NOI) of $201,855. This investment is further enhanced by the recession-resistant nature of veterinary services and the property's location in a highly affluent Houston submarket with over 100,000 households and 300,000+ residents. The lease structure is NNN, minimizing landlord responsibilities. Detailed financial information is available upon request. This is a rare opportunity to acquire a high-performing, single-tenant asset in a prime location.