15743 Lee Rd Houston, TX 77032-2600

Property Details for 15743 Lee Rd

Year built

1950

Construction

WOOD FRAME

Lot size

0.30 lot acres

Property size

2,504 SF

Property type

Grocery and convenience stores

APN

720240000001

APU

720240000001

Description

This exceptional investment opportunity presents a 2,500 square foot grocery store in Houston, Texas, boasting a strong 8% cap rate and a substantial $37,800 annual NOI. The property, built in 1950, features a single-story building with 100% occupancy under a NNN lease with approximately seven years remaining. The current rent is $15 per square foot, offering significant long-term stability. The 24-hour store format contributes to high sales volume, further enhanced by the robust demographics of the area. Located at 15743 Lee Rd, Houston, TX 77032, this property benefits from a strong population base of over 148,361 people within a 5-mile radius and a projected 9.36% annual population growth over the next five years. This presents a rare chance to acquire a stable, high-performing retail asset with significant upside potential in a rapidly growing market. The property is situated in Harris County. The asking price is $472,500.

Location Insight

City

Houston

County

Harris

State

Texas

Longitude

-95.3043

Latitude

29.9486

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments