Le Cafe Josephine (201 E 20th)
201 E 20th St, Houston, TX, 77008-2607, US
217 m²
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the newly constructed Jason’s Deli located at 7114 S Fry Rd in Houston, TX. (“Property” or “Asset”). Jason’s Deli is soon to begin operations on an absolute NNN ground lease with 20.0 years of primary lease term remaining, 10.0% rent escalations every 5-years, four, 5-year renewal options and zero landlord responsibilities. The Asset is currently under construction with an estimated completion date of July 2025. The Property also benefits from a low in-place rent of $84K.
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Attributes
Asking price
NZ$2,438,000
Cap rate
5.75%
NOI
NZ$141,000
WAULT
20 years
Building area net
439 m²
Year built
2025
Land area gross
0.41 ha
Media
Investment Highlights
- Recently Completed New Concept Jason’s Deli
- 20 Years of Primary Lease Term Remaining with 10% Rent Escalation Every 5 Years
- Absolute NNN, Corporate Lease with Zero Management Responsibility
- Pad Site to Larger Grand Parkway Shopping Center within a Dense Commercial Corridor
- Low $84K Ground Rent
- Houston Ranked Third for US High-Income Job Growth
- Average Household Income Exceeds $212,000 within a 1-Mile Radius
Contact brokers
Jason's Deli - Cinco Ranch (0 Properties)
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Last updated
23 Jun 2025
