520 W Main St
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520 W Main St
609 SF Retail Building Tomball, TX 77375 £782,372 (£1,285/SF) 6% Net Initial Yield
Investment Highlights
- For sale, a recently built DeNovo Coffee drive-thru/pickup in Tomball, TX (Houston-MSA).
- Nestled in Downtown Tomball along F. M. 2920 / W. Main Street attracts an impressive daily traffic count, with 22,000 cars passing.
- Demographics in the trade area are very strong: the 3-mile average household income is $117,235.
- 10% rental increases every five years in initial term and option periods
- The building is a 609 square feet drive through facility of which operations commenced for during Q3 of 2017.
- Offer for sale, the fee simple interest in a recently built DeNovo Coffee drive-thru/pickup located in Tomball, Texas.
Executive Summary
Cross Capital Realty is pleased to offer for sale, a recently built DeNovo Coffee drive-thru/pickup (the “property”) located in Tomball, Texas (Houston-MSA).
DeNovo Coffee operates a triple net lease structure that features ten years of primary lease term, ten percent (10%) rental increases every five years, minimal landlord responsibilities, and one 5-year renewal options.
This offering presents the great opportunity to acquire a drive-thru/ pickup asset within the well established community of Downtown Tomball, and growing retail corridor located with excellent access and visibility along F. M. 2920 / W. Main Street (22,000 VPD) that occupies 150 feet of frontage and quick access to Hwy 249. The property occupies a 0.4821-acre site and currently leased to DeNovo Coffee, successful occupiers since 2017.
Ideally set in a large retail corridor, the property is surrounded by major area employers including, Lone Star College-Tomball and Tomball Independent School District. The site greatly benefits from its proximity less than one mile from HCA Houston Healthcare Tomball.
118,412 residents live within five miles of the property, a 70% increase since 2010, demonstrating Tomball’s rapid growth. Excellent average annual household income of $138,981 within a five-mile radius.
DeNovo Coffee operates a triple net lease structure that features ten years of primary lease term, ten percent (10%) rental increases every five years, minimal landlord responsibilities, and one 5-year renewal options.
This offering presents the great opportunity to acquire a drive-thru/ pickup asset within the well established community of Downtown Tomball, and growing retail corridor located with excellent access and visibility along F. M. 2920 / W. Main Street (22,000 VPD) that occupies 150 feet of frontage and quick access to Hwy 249. The property occupies a 0.4821-acre site and currently leased to DeNovo Coffee, successful occupiers since 2017.
Ideally set in a large retail corridor, the property is surrounded by major area employers including, Lone Star College-Tomball and Tomball Independent School District. The site greatly benefits from its proximity less than one mile from HCA Houston Healthcare Tomball.
118,412 residents live within five miles of the property, a 70% increase since 2010, demonstrating Tomball’s rapid growth. Excellent average annual household income of $138,981 within a five-mile radius.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
609 SF
Year Built
2016
Price
£782,372
Price Per SF
£1,285
Net Initial Yield
6%
NOI
£46,947
Tenancy
Single
Number of Floors
1
Building FAR
0.03
Lot Size
0.48 AC
Zoning
Commercial - Commercial / Building Type: Restaurant Fast Food
Parking
5 Spaces (8.21 Spaces per 1,000 SF Leased)
Frontage
150 ft on F. M. 2920 / W. Main St.
Amenities
- Drive Thru
Walk Score ®
Very Walkable (77)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 1372040010001 | Improvements Assessment | £167,046 |
| Land Assessment | £131,452 | Total Assessment | £298,498 |
PROPERTY TAXES
Parcel Number
1372040010001
Land Assessment
£131,452
Improvements Assessment
£167,046
Total Assessment
£298,498
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520 W Main St
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