5701 Washington AveHouston, TX 77007

Property Details for 5701 Washington Ave

Year built

1960

Construction

WOOD FRAME

Lot size

0.59 AC

Property size (Sq ft)

1,980 SF

Property type

Bars

Property subtype

Pubs

APN

1323920010001

APU

1323920010001

Description

This exceptional investment opportunity presents a 6,942 square foot bar located at 5701 Washington Ave, Houston, TX 77007. The property, built in 1960 and renovated in 2019, sits on a 25,513 square foot lot and boasts coveted frontage on Washington Ave, experiencing over 16,000 cars daily. The tenant, Rain HTX, a new concept by Show Hospitality, recently signed a new 7-year absolute NNN lease with a 5-year option, featuring annual rent increases. This provides a 7% cap rate and minimizes landlord responsibilities. The location within the Washington Corridor offers high visibility and benefits from a dense population (492,000 residents within 5 miles, 714,000+ daytime population) and high average household income ($226,000+ within 1 mile). Proximity to Memorial Park further enhances its appeal. The property's unique design and the tenant's upscale dining and entertainment concept create a strong investment opportunity with significant upside potential. The asking price is $4,628,000, translating to $666.67 per square foot. This is a management-free investment with built-in inflation protection through annual rent escalations.

• CAP approach

  CAP return

  Valuation

  6%

  $479,727

  6.5%

  $442,825

  7%

  $411,195

• Comparable approach

  Method

  Valuation

  Relative Method

  $304,369

  Geo Method

  $616,504

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $881,060

  Mixed-Use / Specialty

  $434,171

  Hospitality / Lodging

  $309,326

  Office

  $424,223

  Institutional / Educational

  $448,835

  Residential Income

  $525,136

  Multifamily

  $669,042

  Automotive / Energy

  $384,715

  Parking / Income-Based Land

  $139,750

  Restaurant / Food Service

  $210,717

  Healthcare / Senior Housing

  $452,490

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7706

Longitude

-95.4197

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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