705 Southmore Ave, Pasadena, TX 77502-1109
- Retail space
- 1,330 SF
- 0.38 lot acres
Current Use by Public Records
- Estrada's Income Tax & Insurance / Insurance Agency
Property Details for 705 Southmore Ave
- Year built
- 1962
- Construction
- BRICK
- Lot size
- 0.38 lot acres
- Property type
- Retail space
- APN
- 650330000037
- APU
- 650330000037
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 25, 2022 | — | Star Test Labs LLC | Loan Thi Van Thai | Venders Lien | $600k · American First National Bank |
| Oct 14, 2015 | — | Thai Loan T | Ly,khiem T | Warranty Deed · related | $510k · Tradition Bk |
| Apr 15, 2013 | — | Khiem T Ly | Ngo,voi | Grant Deed · related | — |
| Oct 23, 2006 | — | Voi Ngo | Peltzman Morton | Warranty Deed | $113k · Silver Hill Financial LLC |
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.
Value Estimations
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Location Insight
- Map
- Local Demand
- 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
