19550 Restaurant RowHouston, TX 77084

Property Details for 19550 Restaurant Row

Year built

2005

Lot size

3.78 AC

Property size (Sq ft)

45,000 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple, 45,000-square-foot LA Fitness in Houston, Texas. Located at 19550 Restaurant Row, 77084, this freestanding health club boasts a strong 11-year remaining lease term (expiring 10/30/2035) with three 5-year renewal options. The tenant, LA Fitness, enjoys a corporate guarantee and a stable S&P rating of 'B'. The property, built in 2005 and situated on a 3.78-acre lot, benefits from a recent lease extension executed in 2020, demonstrating the tenant's long-term commitment. Rent increases are capped at the lesser of CPI or 10% every five years, providing predictable income growth. The property's strong financial performance is reflected in its 7.00% cap rate and $816,750 NOI. The asking price is $11,667,857 ($259.29/SF). The location is strategically positioned near numerous national and local retailers, including Ashley Furniture, At Home, H-E-B, Kohl's, and many more, serving a dense population with high average household income. This is a rare opportunity to acquire a high-quality, net-leased asset with a proven track record and significant upside potential. 100% occupancy ensures immediate cash flow.

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7878

Longitude

-95.7126

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