5701 Washington Ave Houston, TX 77007-5136
- Bars
- 1,980 SF
- 0.59 lot acres
Current Use by Public Records
- Rain HTX / Restaurant
- Varsity Sporting Club / Small Plates Restaurant / Sports Bar
- The Fun Singles, Houston Speed Dating & Singles Events / Event Planner
- Axis & Alibi / Bar
Property Details for 5701 Washington Ave
- Year built
- 1960
- Construction
- WOOD FRAME
- Lot size
- 0.59 lot acres
- Property size
- 1,980 SF
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 1323920010001
- APU
- 1323920010001
Description
This exceptional investment opportunity presents a 6,942 square foot bar located at 5701 Washington Ave, Houston, TX 77007. The property, built in 1960 and renovated in 2019, sits on a 25,513 square foot lot and boasts coveted frontage on Washington Ave, experiencing over 16,000 cars daily. The tenant, Rain HTX, a new concept by Show Hospitality, recently signed a new 7-year absolute NNN lease with a 5-year option, featuring annual rent increases. This provides a 7% cap rate and minimizes landlord responsibilities. The location within the Washington Corridor offers high visibility and benefits from a dense population (492,000 residents within 5 miles, 714,000+ daytime population) and high average household income ($226,000+ within 1 mile). Proximity to Memorial Park further enhances its appeal. The property's unique design and the tenant's upscale dining and entertainment concept create a strong investment opportunity with significant upside potential. The asking price is $4,628,000, translating to $666.67 per square foot. This is a management-free investment with built-in inflation protection through annual rent escalations.
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
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.4197
- Latitude
- 29.7706
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
