For Sale
$3,195,000

20350 Park Row DrKaty, TX 77449

Jack in the Box & Chevron NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fee-simple ownership of a 4,507 square foot multi-tenant retail property in Katy, Texas. The property, located at 20350 Park Row Dr, features a Jack in the Box, Chevron gas station, and convenience store, all operating under a corporate-guaranteed absolute NNN lease. The lease boasts a remaining term of 3.1 years, expiring December 18, 2027, with two 10-year renewal options and fixed 10% rent bumps every five years. The property sits on a sizable 1.32-acre lot, offering significant retail frontage along major roadways, less than half a mile from I-10. Built in 2005 and renovated that same year, the property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $198,552, representing a 6.21% cap rate and a price per square foot of $708.90. This strategically located asset benefits from high traffic counts and strong visibility, making it an ideal investment for those seeking a stable, recession-resistant, and e-commerce-immune income stream. The property's strong tenant mix, coupled with the absolute NNN lease structure and corporate guarantee, minimizes landlord responsibilities and ensures a secure investment. This is a rare opportunity to acquire a high-performing retail property in a rapidly growing area of Houston's MSA. The property's location, tenant strength, and lease terms combine to create a compelling investment proposition with significant long-term potential. The Harris County location and its proximity to major transportation arteries further enhance its appeal.

Highlights

  • High-traffic location with significant retail frontage on two major roadways, less than half a mile from I-10.
  • Jack in the Box has operated continuously at this location since 2005.
  • Absolute NNN lease with corporate guarantee, eliminating landlord responsibilities for operating expenses and capital expenditures.
  • Jack in the Box is a recession-resistant, e-commerce immune quick-service restaurant (QSR) with aggressive expansion plans.
  • Fee simple ownership of a 4,507 square foot retail property in Katy, TX, including land and building, with a 1.32-acre lot.

Property Details for 20350 Park Row Dr

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,507 SF
Year Renovated
2005
Lot Size (sq. ft)
57,499 SF

Location Insight

City
Katy
County
Harris
State
Texas
Latitude
29.7902929
Longitude
-95.7346512
20350 Park Row Dr, Katy, Texas

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20350 Park Row Dr
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