1902 Cherry St Tomball, TX 77375-6824
- Flex space
- 29,280 SF
- 1.92 lot acres
Current Use by Public Records
- Daikin Comfort / Distribution Service
- Goodman distribution / Air Conditioning Store
Property Details for 1902 Cherry St
- Year built
- 2019
- Construction
- STEEL FRAME
- Lot size
- 1.92 lot acres
- Property size
- 29,280 SF
- Property type
- Flex space
- APN
- 1405730010001
- APU
- 1405730010001
Description
This fee-simple industrial property in Tomball, Texas, offers a compelling investment opportunity. The 25,200-square-foot distribution center, built in 2019, sits on a 1.92-acre lot and boasts a 6.00% cap rate with a strong NOI of $305,172. Currently 100% occupied by a corporate-guaranteed tenant under a triple-net (NN) lease with approximately 4.8 years remaining until the lease expiration date of August 31, 2029. The lease includes two 5-year renewal options, providing long-term stability and rental growth. Ten percent rental increases are built into the lease every five years, offering inflation protection. The property features 25 parking spaces and is zoned for industrial use. Its prime location near State Highway 249 (40,300 VPD) and a major retail corridor, including national retailers like Walmart, Target, and Lowe's, ensures high visibility and strong consumer traffic. The surrounding area demonstrates robust demographics, with a 5-mile trade area population exceeding 138,800 and an average household income of $139,774. This low-management investment opportunity is ideal for out-of-state investors seeking a stable, high-return asset. The property's address is 1902 S Cherry St, Tomball, TX 77375. APN: 1405730010001.
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
- Tomball
- County
- Harris
- State
- Texas
- Longitude
- -95.612
- Latitude
- 30.0777
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
