For Sale
$3,844,000

1370 Grand Pkwy Katy, TX 77494

High-yield, NNN-leased veterinary clinic

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 5,250-square-foot, single-tenant veterinary emergency facility in Katy, Texas. The property, built in 2021, boasts a strong 100% occupancy rate with a corporate lease to Veterinary Emergency Group (VEG) – a well-established operator with approximately 54 locations across 20 states. The current lease has approximately 8.2 years remaining, featuring 9% rent increases every 5 years, ensuring consistent income growth. The property is strategically located in a high-traffic area, situated as an outparcel to a Kroger-anchored center attracting over 868,000 visitors annually. The location benefits from proximity to major roadways, including TX Hwy 99, and is surrounded by other national retailers such as Wells Fargo, Jack in the Box, Subway, and Starbucks. The 0.89-acre lot offers ample space, and the building itself is of institutional quality construction. The property's strong financial performance is reflected in its $3,844,000 asking price, a 5.25% cap rate, and a Net Operating Income (NOI) of $201,855. This investment is further enhanced by the recession-resistant nature of veterinary services and the property's location in a highly affluent Houston submarket with over 100,000 households and 300,000+ residents. The lease structure is NNN, minimizing landlord responsibilities. Detailed financial information is available upon request. This is a rare opportunity to acquire a high-performing, single-tenant asset in a prime location.

Highlights

  • Motivated seller seeking a quick close.
  • Triple Net (NNN) lease structure.
  • Experienced multi-unit operator (50+ units).
  • High-density trade area with over 100,000 households and 300,000+ residents.
  • Located in a highly affluent Houston submarket.
  • 10-year corporate lease in place.

Property Details for 1370 Grand Pkwy

Property type
Retail properties, Retail space
Square Feet
5,250 SF
Year Built
2021
Lot Size (sq. ft)
38,768 SF
Units
1

Location Insight

City
Katy
County
Fort Bend
State
Texas
Latitude
29.7602048
Longitude
-95.777184

FAQs

What type of property is this?
Retail property - High-yield, NNN-leased veterinary clinic
Where is the retail property located?
The property is located at 1370 Grand Pkwy Katy, TX.
What is the asking price?
The asking price for this property is $3,844,000.
What are key features of this property?
This property features: Motivated seller seeking a quick close.; Triple Net (NNN) lease structure.; Experienced multi-unit operator (50+ units).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1370 Grand Pkwy
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message