1902 S Cherry St - Distribution FOR SALE


Tomball, TX 77375
$5,086,000 USD
949-698-1115
1902 S Cherry St, Tomball, TX for Sale
$5,086,000 USD
Distribution - FOR SALE
1/9
null | 6% Cap Rate

1902 S Cherry St
Tomball, TX 77375


HIGHLIGHTS

  • Approximately 5 Years Remaining | Options To Extend | Annual Rental Increases
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • State Hwy 249 (40,300 VPD) | Retail Corridor |Strong/National Credit Tenant Presence
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased Goodman Distribution investment property located in Tomball, Texas. The tenant, Goodman Distribution, Inc., has approximately 5 years remaining on its 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and FMR increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$5,086,000 USD

PRICE/SF

$254 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Goodman Distribution | Annual Increases

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

1.92

LAND SF

83,635

ZONING

Industrial

APN/PARCEL ID

1405730010001

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
949-698-1115

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Patrick LutherSRS National Net LeaseMore Info
949-698-1115

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.