1651 West Parkwood Avenue
Friendswood, TX
Price:
$7,284,000
Cap Rate:
5.15%
NOI:
$375,147
Building Size:
Approx. 7,500 Sq. Ft.
Lot Size:
Approx. 1.63 Acres
Type:
Single-Tenant / Retail
Sub Category:
Convenience / Gas
Year Built / Renovated:
2011 / 2019
Investment Overview
- 2019 Remodel 7,500+/- SF Building on 1.63+/- Acre Site
- New 15-Yr Corp. NNN Lease with 10% rent increases every 5-years beginning year 6
- Strategically located along Parkwood Ave. (29,000 VPD) which provides excellent visibility to the subject property
- As of 3/23/2020, 7-Eleven Stores Plan to Add 20K Jobs to Meet Demand
- Within a 1-mile radius of the property features above average household income of approximately $172,521
- There are several national credit tenants in the immediate trade area including HEB, 24-Hour Fitness, Discount Tire, Jiffy Lube, AutoZone, and many more
- Approximately 114,791 people live within a 5-mile radius of the subject 7-Eleven
- The city of Friendswood, TX is located approximately 24-miles of southeast downtown Houston, TX