Investment Summary
Price | $2,050,000 |
Cap Rate | |
NOI | |
Lease Term | 15 years |
Lease Type | |
Rental Increases | |
Year Built | |
Building Size | |
Lot Size | |
Status | Sold |
Lead Brokers | Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
Property Description
Sold
» Dutch Bros maintains excellent visibility along Spring Green Boulevard/FM 1463 Road (14,930 AADT) near Interstate 10/Katy Freeway, which experiences 158,399 vehicles per day near the site
» The property is well-positioned within the Kroger-anchored Shops at Katy Reserve Center and situated next to Chase Bank and Memorial Hermann Health System Primary Care, which provides increased daytime activity and promotes crossover traffic
» The site is 5.7 miles from Memorial Hermann Katy Hospital (208 beds) and centrally located within the Katy Independent School District (71 schools) which serves a student population of over 92,500
» The property is surrounded by high-end home developments including the nearby Reserve at Katy community (homes from $400k to $800k), and Woodcreek Reserve (homes from $260k to over $1 million)
» The site is supported by a large population of 213,464 within five miles, a significant growth of 132% since 2010 with the average annual household income exceeding $166K within a 1-, 3-, and 5-mile radius
» The location is a gateway to Downtown Houston, the fourth-most populous city in the U.S. (population 2,320,268)
» The area benefits from its strategic location within Greater Houston (7.21 million people), the seventh-largest metro economy with a GDP of $488.2 billion in 2020