4704 Airline DrHouston, TX 77022

Property Details for 4704 Airline Dr

Year built

1980

Construction

CONCRETE BLOCKS

Lot size

1.94 AC

Property size (Sq ft)

17,544 SF

Property type

Sports & entertainment properties

APN

590150010002

APU

590150010002

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $4,112,649

  Hospitality

  $3,767,164

  Educational

  $3,134,237

  Medical

  $3,242,028

  Retail

  $4,875,480

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.8352

Longitude

-95.3834

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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