2920 And State RteTomball, TX 77375

Property Details for 2920 And State Rte

Year built

2024

Lot size

0.43 AC

Property size (Sq ft)

783 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 783 square foot, single-tenant, absolute NNN ground lease property located at the northeast corner of FM 2920 and State Route 249 in Tomball, Texas. The property boasts a new 20-year corporate lease (commencing August 12, 2024 and expiring July 31, 2044) with a prominent QSR tenant, Salad and Go, a rapidly expanding brand with over 135 locations. The lease includes 10% rent increases every five years, ensuring consistent income growth. The property features a 6.00% cap rate and a strong NOI of $90,000. Built in 2024, this 0.43-acre site benefits from a high-traffic location with combined average annual daily traffic of 38,368 on FM 2920/West Main Street and State Route 249B, and an additional 46,235 on State Route 249, capturing significant commuter traffic. The property's strategic location within a thriving retail corridor places it near major national retailers such as Walmart, Lowe's, Target, Kroger, and H-E-B, as well as other QSR establishments. The area also boasts significant employment opportunities with Lone Star College-Tomball, Tomball Independent School District, and HCA Houston Healthcare Tomball, all within close proximity. With a population of 106,541 residents within a five-mile radius and an average annual household income of $136,329, this property offers exceptional long-term investment potential. The asking price is $1,500,000. This is an ideal 1031 exchange opportunity.

Location Insight

City

Tomball

County

Harris

State

Texas

Latitude

30.0894

Longitude

-95.6318

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