8650 Grand Mission Blvd - Convenience Store FOR SALE


Richmond, TX 77407- Grand Mission
$5,333,333 USD
408-510-9057
8650 Grand Mission Blvd, Richmond, TX for Sale
$5,333,333 USD
Convenience Store - FOR SALE
1/5
null | 6.75% Cap Rate

8650 Grand Mission Blvd
Richmond, TX 77407
Grand Mission


HIGHLIGHTS

  • High Traffic Area: Situated on Grand Mission Blvd, the property benefits from significant vehicular traffic, enhancing visibility and customer influx
  • Diverse Revenue Streams: Backed by a Single High-Net-Worth Operator With a Personal Guaranty
  • Both Tenants Will Be Guaranteed by the Same Experienced Operator Who Will Continue to Run the Businesses
  • Brand-New 15-Year NNN Leases With 10% Increases Every 5 Years
  • Proximity to Houston: Richmond is part of the Houston metropolitan area, benefiting from the economic strength of one of the largest cities in the US
  • Exceptional Location: 3-Mile Population Exceeds 123,000 With Over 4% Annual Growth

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$5,333,333 USD

PRICE/SF

$819 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Valero | 15yr NNN | 6.75% Cap Rate

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Service Station, Supermarket, Truck Stop

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

-

APN/PARCEL ID

0367-00-000-0519-907

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

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