Taco Palenque (Ground Lease)

  • $3.3M
3000 Woodridge Drive, Houston, TX 77087, USA

Taco Palenque (Ground Lease)

3000 Woodridge Drive, Houston, TX 77087, USA
  • $3.3M

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Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
Sands Investment Group is Pleased to Exclusively Offer For Sale the 4,614 SF Taco Palenque Located at 3000 Woodridge Drive in Houston, Texas. This Opportunity Includes a Corporate Guaranteed Absolute Triple Net (NNN) Ground Lease Situated in an Excellent Location With Over 160,500 Residents Living Nearby, Providing For a Secure Investment.

Investment Highlights
Owner/Operator, Juan Francisco ‘Pancho’ Ochoa, Also Founded and Had Unprecedented Success With El Pollo Loco and Continues to Own and Operate 52 Locations in Mexico; He Also Created and Operates 29 Taco Palenque Locations and 3 Palenque Grills in Texas; Ochoa Has Over 45 Years of Experience and Understands the Importance of a Strong Team, Quality, Food Flavors and Retaining Happy Customers
Over 11 Years Remaining on a 20-Year Corporate Guaranteed Absolute Triple Net (NNN) Ground Lease With Zero Landlord Responsibilities
Location Sits on Woodridge Drive With 21,290 VPD, a Connector Between Interstate 45 With 252,826 VPD and Interstate 610 (the Inner Loop Around Houston) With 167,367 VPD
Woodridge Drive is a Heavy Retail Corridor With a Large Retail Presence Including H-E-B, Best Buy, Marshalls, Old Navy, Bank of America, Lowe’s, Starbucks, Home Depot and Office Depot
Excellent Demographics With a Population of Over 160,5566 Residents Making an Average Household Income of$48,362 Within a 3-Mile Radius
Minutes From the Houston Independent School District, Crespo Elementary, Sanchez Elementary and the Eastside Campus of Houston Community College
Houston, the Most Populous City in Texas, and 4th Most Populous City in the U.S. Has an Estimated Population of Over 2.4 Million Residents; Houston is Home to the Texas Medical Center, NASA’s Johnson Space Center, the Port of Houston (Ranked 1st in International Waterborne Tonnage) and Many Fortune 500 Headquarters
Located Between the University of Houston (11 Minutes) and Hobby Airport (15 Minutes)
Nearby Tenants Include: Lowe’s, H-E-B, Wendy’s, Chase Bank, Taco Bell, Panda Express, Party City, Kentucky Fried Chicken, Conn’s, Verizon and Many More

Details

Updated on November 6, 2019 at 3:18 am
  • Property ID: 24701
  • Price: $3.3M
  • Property Size: 4614 sqft
  • Year Built: 1986
  • Property Type: Retail
  • Property Status: For Sale
  • Price Per/Sf: 718.97
  • Lot Size (acres): 0.76
  • Tenancy: Single
  • Cap Rate: 6.50%
  • Net Operating Income: 215,625

Additional details

  • Lease Type: Absolute NNN
  • Tenant Credit: Corporate Guarantee
  • Lease Term: 20.5 years
  • Lease Commencement: 06/30/2010
  • Lease Expiration: 12/31/2030
  • Remaining Term: 11.2 years
  • Lease Options: 3 x 5 Years
  • Ground Lease: Yes
  • Address 3000 Woodridge Drive, Houston, TX 77087, USA
  • City Houston
  • State/county Texas
  • Zip/Postal Code 77087
  • Area Gulfgate / Pine Valley

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Contact Information

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Matson Kane
  • Matson Kane
  • 512.861.1889

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Matson Kane
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