Marcus & Millichap is pleased to present the opportunity to acquire a dual-tenant retail asset located at 8650 Grand Mission Boulevard in Richmond, Texas. The offering includes a Valero-branded gas station and convenience store, as well as a Subway restaurant. Both tenants will enter into brand-new, 15-year absolute NNN leases at the close of escrow, each personally guaranteed by the same high-net-worth operator who will continue to run both businesses on site. The leases feature 10% rental increases every five years and include four (4) five-year renewal options, offering reliable income growth and long-term stability.
Though technically multi-tenant, the property will operate much like a traditional STNL investment, with zero landlord responsibilities. The ±6,509-square-foot building sits on a ±1.25-acre hard-corner parcel at a signalized intersection along Grand Mission Boulevard, which sees more than 22,000 vehicles per day. The location benefits from strong visibility, excellent access, and walkability within a dense residential pocket experiencing rapid population growth.
The surrounding area has seen a surge of new home construction, with over 34,000 households and a 3-mile population exceeding 123,000, growing at over 4% annually. Average household incomes top $109,000. Situated just minutes from the Grand Parkway and Westpark Tollway, this site is positioned in one of Greater Houston’s most desirable and fastest-growing suburban corridors. With brand-new long-term leases, strong tenant infrastructure, and outstanding real estate fundamentals, this offering presents a compelling opportunity to acquire durable income in a booming Texas market.