4704 Airline DrHouston, TX 77022

  • Sports & entertainment properties
  • 17,544 SF
For Sale
$9,518,000 View listing

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
Property subtype
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $4,112,649
    Hospitality
    $3,767,164
    Educational
    $3,134,237
    Medical
    $3,242,028
    Retail
    $4,875,480
4704 Airline Dr, Houston, Texas

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$45,684
$1,268,250
$1,315,750
$2,584,000
-
$1,268,250
$1,315,750
$2,584,000

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