705 Southmore Ave Pasadena, TX 77502-1109

Property Details for 705 Southmore Ave

Year built

1962

Construction

BRICK

Lot size

0.38 lot acres

Property size

1,330 SF

Property type

Retail space

APN

650330000037

APU

650330000037

Description

This exceptional investment opportunity presents a 33,018-square-foot Quick Quack car wash in Pasadena, Texas (Houston MSA), built in 2024. The property boasts a 20-year absolute NNN corporate ground lease with a prominent corner location at a signalized intersection, ensuring high visibility and accessibility. The lease includes four 5-year options, providing long-term stability and predictable income. Rent increases of 10% every five years throughout the primary term further enhance the investment's value. The property's strong financial performance is reflected in its 5.75% cap rate and a substantial net operating income (NOI) of $172,500. The asking price is $3,000,000, translating to a price per square foot of $90.86. Quick Quack, the fourth-largest car wash chain in the U.S., operates on a self-serve, membership model, contributing to its consistent success. The location benefits from excellent demographics, with over 278,000 residents and 96,000 employees within a 5-mile radius, supported by significant industrial activity and the Port of Houston. The property is situated along Southmore Avenue's retail corridor, near major retailers like Walmart, Ross, and DD's Discounts, and the redeveloping Macroplaza Mall. This presents a compelling passive investment opportunity with a leading national brand in a high-growth sector. The existing car wash infrastructure, including water hookups, and a solid customer base further solidify this investment's potential.

Location Insight

City

Pasadena

County

Harris

State

Texas

Longitude

-95.2044

Latitude

29.6911

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments