Asking Price
Sq. Footage 32,918
NOI Net Operating Income
Cap Rate 7.50%

Attributes

Year Built 1978
Lease Type NN
Current / Passing Rent
Lease Expiration 2024-06-30
Remaining Term 4 years, 5 months
Tenant Office Depot, Incorporated
Lot Size 2.34 ACRES

Property Description

The Office Depot, a single-tenant property in Houston, TX is up for sale. The property is spread across 2.34-acres between Stuebner Airline Drive and FM 1960 RD W, a four-way signalized intersection and is adjacent to local demand drivers like Ross, Starbucks, Hobby Lobby and Petco. The Office Depot has occupied the location for more than 30 years with 4.8 years of lease term remaining.

Investment Highlights

  • Fee Simple Interest
  • Exceptional rent-to-sales ratios of 6.5 - 7.5% since 2015 with over 30 years operating history
  • Significant sales growth in 2018 at corporate level, achieving $11 billion (up 9% YOY)
  • Preeminent Houston location with 80,000 VPD
  • Northwest submarket ranks second across Houston in retail density and vacancy rate
  • Affluent demographic profile ($90,000 AHHI) with growth trends
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
Licensed in
IL - 475.170243
Ryan West
Senior Managing Director

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