Cap Rate: 8.75%
Size: 7,000 SF
Marcus & Millichap is pleased to offer this Advance Auto Parts-leased property in Houston, Texas for your consideration. Situated on a corner lot fronting high-traffic North Shepherd Road, the Property is subleased to Ralston Discount Liquor and has just over one and a half years remaining on its lease with Advance Auto Parts. The building is Advance Auto Parts’ standard 7,000 square foot concrete prototype, and the lot is 27,556 square feet, enabling a variety opportunities for repurposing the property in the future.
Shepherd Road is one of Houston’s primary north/south residential and commercial thoroughfares, and the Property benefits from two points of ingress and egress on each side of its corner. Crossing through notable neighborhoods such as River Oaks, the Heights, and Garden Oaks and intersecting major freeways including Interstates 45 and 10, as well as U.S. 59/69 and the 610 Loop, it is not hyperbole to say that Shepherd is the glue connecting some of Houston’s most important locales.
The high-demographic Garden Oaks neighborhood is just to the south of the Property. The neighborhood’s intown location attracts residents with strong disposable incomes, and it has been characterized as one of the “25 Hottest Neighborhoods” in Houston highlighting the viability of this real estate.
- Corporate Backed Double Net (NN) Lease
- Potential for Future Redevelopment in High Demand Area
- Subleased to Ralston Discount Liquor Store
- More than 383,000 Residents in Growing Trade Area
- 2006 Construction | 7,000 Square Foot Building | 27,556 SF Corner Lot
- Visible to 37,000 Vehicles Per Day
- Daytime Population of Over 396,000 People Within a Five-Mile Radius