Family Dollar Store Pearland Sites Rd. & Hastings Cannon Rd., Pearland, TX Cap Rate 6.85% Pearland (Houston, Texas, US ) Built

$1,421,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 8,320 sq. ft.
  • Development Level: Built
  • Lot Size: 59400 sq. ft.
  • Year Built: 2019

Description

Family Dollar Store Pearland Sites Rd. & Hastings Cannon Rd., Pearland, TX Cap Rate 6.85%

Cap Rate: 6.85%
NOI: $97,369
Building Size: 8,320 sqft
Lot Area: 59,400 sqft
Occupancy: 100%
Tenancy: Single
Year Built: 2019
Price Per Sqft: $170.79
Parking Spots: 32
Lease Expire Year: 03/31/2030

Price: $1,421,000 USD

DESCRIPTION
The subject property consists of a new construction, 8,320 square foot, freestanding Family Dollar Store situated on a 1.36 acre parcel and located in Pearland, TX. This new build-to-suit has in place a 10-year NN lease with minimal landlord responsibilities (roof and structure – roof comes with a 20-year transferrable “weatherproof” warranty). Pearland is a rapidly growing suburb of Houston located just 17 miles from downtown. The city has experienced massive growth over the past decade and was named the 3rd fastest growing city in the US economy in 2018 according to the Houston Business Journal. The property is located on Pearland Sites Rd., just north of its intersection with Hastings Cannon Rd. on the west side of the street. The property has excellent visibility to the combined 9,827 vehicles per day that travel past the site. The area boasts extreme population density. New home developments are sprouting up in all directions of the immediate vicinity of the property and there is a small gap in retail supply in this pocket of the Pearland market that Family Dollar aims to fulfill demand.

This location fits into the well-established strategic store expansion program of Family Dollar, providing convenience goods (including food, refrigerated products and non-perishable items) to its customer base. Demographics indicate a population of 97,044 within a 5-mile radius of the subject property with average HH incomes of $112,034.

HIGHLIGHTS
• New Construction 2019 Built-to-Suit
• Pearland is a suburb of Houston, TX located just 17 miles south of its Central Business District
• Pearland was named 3rd fastest growing economy in the US in 2018 according to Houston Business Journal
• No caps for tenant reimbursements of real estate taxes and property insurance
• Excellent visibility off Pearland Sites Rd. with combined (Hasting Cannon Rd.) traffic counts of 9,827 vehicles per day
• Brand new 10-year NN Lease with minimal LL responsibilities
• (6) 5-year renewal options with 5% rental increases in each
• Investment grade tenant (NASDAQ: DLTR | BBB-, Stable outlook)
• High density growth market with a population of 97,044 within a 5 mile radius and Average HH incomes over $112,034 within same

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

P2#442491869
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Information is deemed to be correct but not guaranteed.