22525 Morton Creek Ranch Road
Katy, TX
Price:
$3,178,000
Cap Rate:
5.35%
NOI:
$170,000
Building Size:
Approx. 3,303 Sq. Ft.
Lot Size:
Approx. 0.7 Acres
Type:
Single-Tenant / Retail
Sub Category:
Automotive Service
Year Built:
2019
Investment Overview
- 2019 Construction. 3,303+/- SF Building on .70+/- Acre Site
- New 20-Year Corp, NNN w/ 10% Rent Bumps Every 5-Yrs
- Located along Morton Ranch Rd (6K VPD) & Elrod Rd (6K VPD)
- Just E of the Grand Pkwy Toll (24K VPD) – Houston’s 3rd Outer Loop
- Adjacent to Aldi | Near Walmart SC, Kroger, Chick-fil-A, SBUX, Petco
- Surrounded by multiple residential, commercial, & future business parks
- Katy is a suburb of Houston located 20-Miles W of Downtown Houston
- Local Economy: $21 Billion in Sales w/ 9K companies & 200 HQ’s
- HQ’s in Katy: BP North America | Conoco | Academy Sports & Outdoors
- 3-Mile Radius: 2018 Est Pop: 89,191 | 5-Mile Avg HH Income: $101,030
- Greater Houston (MSA) | 6TH Largest in the U.S | Population: 6,892,427