For Sale
$9,518,000

4704 Airline DrHouston, TX 77022

Houston Fitness Center - Fee Simple

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents the fee-simple ownership of a 17,300 square foot Blink Fitness center in Houston, Texas. Located at 4704 Airline Dr, in Harris County, this property boasts a 20-year lease (commencing March 1, 2021, and expiring February 28, 2041), providing a remaining term of 16.3 years. The lease includes a corporate guarantee and features 13% rent bumps every five years, along with one and five-year lease options. The property sits on a 1.94-acre lot and was built in 1980, undergoing renovations in 2020. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $618,700, resulting in a 6.50% capitalization rate. The asking price is $9,518,000. This is a fee-simple ownership, not a ground lease. The property is classified as Special Purpose, Subtype Sports/Entertainment, and is a single-tenant building. This presents a strong, stable investment in a thriving Houston market.

Highlights

  • Houston MSA location with corporate guaranty.
  • Texas income tax-free state.
  • Long-term, triple-net (NNN) lease.
  • Excellent retail location.
  • Strong demographics.
  • Above-average property rankings.

Property Details for 4704 Airline Dr

Property type
Specialty properties, Retail space
Square Feet
17,300 SF
Year Built/Renovated
1980/2020
Lot Size (sq. ft)
84,506 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.8352424
Longitude
-95.3838943
4704 Airline Dr, Houston, Texas

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4704 Airline Dr
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