6229 Stewart Rd Galveston, TX 77551-1882

Property Details for 6229 Stewart Rd

Year built

2008

Lot size

0.76 lot acres

Property size

2,850 SF

Property type

Commercial real estate

APN

7205-0000-0057-006

APU

720500000057006

Description

This exceptional investment opportunity features a brand-new, 2,775 square foot Chipotle restaurant in Galveston, Texas. Located at 6229 Stewart Rd, this single-tenant, absolute NNN property boasts a 20-year lease (commencing September 19, 2024, and expiring September 30, 2044) with a corporate guarantee and 10% rent bumps every five years. The property sits on a 0.76-acre lot with 60 parking spaces and is part of The Plaza, a high-performing retail center with national brands like Five Below, Ross, and Whataburger. This prime location benefits from high visibility (near 50,000 vehicles per day) and serves as Galveston's first and only Chipotle, catering to residents and the city's 8 million annual tourists. The property offers a strong 4.65% cap rate and a substantial net operating income (NOI) of $198,000. The building, constructed in 2024, is a Class A, one-story structure. The lease includes four 5-year renewal options, ensuring long-term, passive income for the investor. This fee-simple interest property presents a rare opportunity to acquire a high-performing asset in a thriving Texas market with significant population growth. The property's location at a major intersection provides excellent visibility and accessibility. This is a truly exceptional investment opportunity with a strong tenant, long-term lease, and excellent location.