Whataburger - Katy, TX_Property for Sale

24710 Morton Ranch Rd, Katy, TX, 77493, US

Whataburger - Katy, TX

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the new-construction, single-tenant Whataburger located at 24710 Morton Ranch Rd, Katy, TX 77493 (“Property” or “Asset”).

This is a rare opportunity for investors to acquire a grocery-anchored, single-tenant retail asset in Katy’s fastest-growing submarket, secured by a nationally recognized Tenant and a true zero-landlord-responsibility lease structure.

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Attributes

Asking price

¥433,091,000

Cap rate

4.7%

NOI

¥20,354,000

WAULT

15 years

Building area net

307 sm

Year built

2025

Media

Investment highlights

Whataburger 15-year absolute NNN ground lease with 10% escalations every 5 years and zero landlord responsibilities
H-E-B anchored pad site, the only H-E-B in over 3-miles
Incredible demand characteristics driven by 1-mile AHHI of $135K+ and 177% population growth since 2010
Adjacent to Katy Park, a 100-acre sports complex with over 700,000 annual visitors
Whatabuger is a leading QSR operator with over $3.77 billion in U.S. sales
Since 2021, residents in Katy have leased more than 6,000+ apartments