Cap Rate: Confidential
Size: 1,764 SF
Lot Size: 0.11 Acres
Marcus & Millichap is pleased to offer 1123 East 11th in Houston’s urban core for your consideration. The Property consists of an absolute net ground lease with Bicycle Speed Shop, Houston’s premier high-end service, 3D bike fitting, and high performance bicycle shop. There are no landlord responsibilities required, making this an excellent investment for wealth preservation, 1031, or out of state investors.
The Property benefits from its irreplaceable location on 11th Street in Houston’s desirable Heights Neighborhood. Characterized by hip retailers, walkable streetscapes, appealing architecture, and strong demographics, The Heights is one of Houston’s most desirable Inner Loop neighborhoods. Demographics reflect this with average household income exceeding $137,000 within a 1-mile radius of the Property and over $102,000 within a 5-mile radius.
In addition to its excellent location on 11th Street in the heart of The Heights, 1123 East 11th is notable for the high quality redevelopment completed on the building. Preservation Houston presented Revive Development with its Good Brick Award in 2018 for redeveloping and restoring the Property’s Art Deco Style while preserving its architectural integrity.
This offering provides an investor the opportunity to acquire an excellent ground lease in Houston’s urban core that has the added benefit of being a landmark in the community.
- Absolute Net Ground Lease
- Exceptional Location on 11th Street in The Heights
- Average Household Income Exceeds $137,000 in a 1-mile radius
- Property Won the Good Brick Award in 2018