Cracker Barrel - Houston

14765 North Freeway, Houston, TX, 77090, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present for sale the single-tenant Cracker Barrel (the "Tenant") located in Houston, TX (the "Property" or "Asset"). The Tenant executed a 20-year absolute NNN lease with 1.00% annual rental escalations in 2020. The lease has 15 years remaining with three, 5-year renewal options.

This offering presents the opportunity to acquire a high-demand asset with zero landlord obligations in the dynamic and rapidly growing Houston market. As a prime infill location surrounded by strong demographics, the property capitalizes on the area's dense residential population and high average household income, making it an exceptional investment in one of the nation's most strategic retail corridors.

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Attributes

Asking price

€4,187,000

Cap rate

5.5%

Lease type

Absolute Triple Net

Building area net

929 m²

Remaining lease term

15 years

Year built

1998

Media

Investment Highlights

Absolute NNN lease with 1% rent growth annually
Initial lease term of 20 years with +15 years remaining
Strategically located adjacent to Interstate-45 with 251,000+ VPD
Population of 286,000 within a five-mile radius and a 29.7% population growth
Oversized 3-acre parcel size
4.7M SF of industrial space, 951K SF of retail, and nearly 600 hotel keys within one mile
Located in the nation's fifth-largest MSA (#5)