20350 Park Row DrKaty, TX 77449

Property Details for 20350 Park Row Dr

Year built

2005

Construction

FRAME

Lot size

1.32 AC

Property size (Sq ft)

4,876 SF

Property type

Grocery and convenience stores

APN

260510000219

APU

260510000219

Description

This exceptional investment opportunity presents a fee-simple ownership of a 4,507 square foot multi-tenant retail property in Katy, Texas. The property, located at 20350 Park Row Dr, features a Jack in the Box, Chevron gas station, and convenience store, all operating under a corporate-guaranteed absolute NNN lease. The lease boasts a remaining term of 3.1 years, expiring December 18, 2027, with two 10-year renewal options and fixed 10% rent bumps every five years. The property sits on a sizable 1.32-acre lot, offering significant retail frontage along major roadways, less than half a mile from I-10. Built in 2005 and renovated that same year, the property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $198,552, representing a 6.21% cap rate and a price per square foot of $708.90. This strategically located asset benefits from high traffic counts and strong visibility, making it an ideal investment for those seeking a stable, recession-resistant, and e-commerce-immune income stream. The property's strong tenant mix, coupled with the absolute NNN lease structure and corporate guarantee, minimizes landlord responsibilities and ensures a secure investment. This is a rare opportunity to acquire a high-performing retail property in a rapidly growing area of Houston's MSA. The property's location, tenant strength, and lease terms combine to create a compelling investment proposition with significant long-term potential. The Harris County location and its proximity to major transportation arteries further enhance its appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $1,765,074

  6.5%

  $1,629,300

  7%

  $1,512,921

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,927,600

  Geo Method

  $3,678,760

• Alternative Use

  Use

  Valuation

  Residential

  $1,374,375

  Hospitality

  $1,258,920

  Educational

  $1,047,407

  Medical

  $1,083,429

  Retail

  $1,629,300

Location Insight

City

Katy

County

Harris

State

Texas

Latitude

29.7904

Longitude

-95.7347

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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