x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Freddy’s & MOD Pizza, Houston, TX

Freddy’s & MOD Pizza

Price $4,305,000
Cap Rate 6.00%
NOI $258,300
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2019
Building Size 5,950 SF
Lot Size 1.11 acres (48,352 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED TWO-TENANT RETAIL CENTER
» New long-term leases to notable national tenants – Freddy’s (15 years) and Mod Pizza (10-year corporate lease)
» Scheduled rental increases in initial terms and option periods

HIGH-TRAFFIC LOCATION OUTPARCEL TO NEW FOREST CROSSING
» Prominently located on Beltway 8, with excellent visibility and access to 98,000 vehicles per day in front of the property
» Outparcel to New Forest Crossing, a 40-acre power center featuring more than 40 shops, eateries, and department stores, including Lowe’s, Ross, Big Lots, PetSmart, Buffalo Wild Wings, CVS, Bank of America, Rainbow, and many others
» New Forest Crossing has nearly 100% occupancy and is located in a dense retail area

LARGE, GROWING CUSTOMER BASE
» Within walking distance of both North Shore Senior High School, with 4,64 students, and San Jacinto College North Campus, with 10,043 students
» 165,668 residents live within five miles of the property
» The neighborhoods near the property have experienced rapid growth, with the population within one-, three-, and five-mile radii growing approximately 20% between 2010 and 2019
» The population within a one-mile radius is expected to grow more than 10% by
2024

NEW 2019 CONSTRUCTION
» Features dedicated Freddy’s drive-thru
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is prominently located on Beltway 8, with excellent visibility and access to 98,000 vehicles per day in front of the property. The property is outparcel to New Forest Crossing, a 40-acre power center featuring more than 40 shops, eateries, and department stores, including Lowe’s, Ross, Big Lots, PetSmart, Buffalo Wild Wings, CVS, Bank of America, Rainbow, and many others. New Forest Crossing has nearly 100% occupancy and is located in a dense retail area. Notable tenants in the nearby area include Walmart Supercenter, JCPenney, Best Buy, Chick-fil-A, Marshalls, Men’s Wearhouse, Staples, and more.

The property is centrally located near large schools and growing residential neighborhoods. Both North Shore Senior High School, with 4,641 students, and San Jacinto College North Campus, with 10,043 students, are both within walking distance of the property. The property is also supported by a strong residential customer base. Currently, 165,668 residents live within five miles of the property. The neighborhoods near the property have experienced rapid growth, with the population within one-, three-, and five-mile radii growing approximately 20% between 2010 and 2019. Additionally, the population is expected to continue to increase in the area; the population within a one-mile radius is expected to grow more than 10% by 2024.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link