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Louetta Automotive (a GB Auto Service Brand)

$ 1,773,913
, Texas
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Newly Listed

Address: 5105 S Mason Rd, , Texas, United States 7450

Type: Auto Parts Retailer

Cap Rate: 5.75%

Lease Type: Triple-Net (NNN)

Annual Rent: $102,000

Net Operating Income: $102,000

Lease Term Remaining: 15 Years

Rental Increases: 1.50% Annually

Options: Two, Five-Year Options

Year Built: 2011

Rentable Sq/Ft: 5,905 SF

Rent Sq/Ft: $17.27

Price Sq/Ft: $300

Lot Size: 1.13

Marcus & Millichap is pleased to present the exclusive listing for a Louetta Automotive located at 5105 South Mason Road, Katy, Texas 77450. The property consists of 5,905 square feet of building space and is situated on roughly 1.13 acres of land. The property is subject to a recently-extended triple net (NNN) lease, which expires on July 31, 2035. The lease will call for 1.50% annual rental increases that will continue through the base term and into the two, five-year tenant renewal options. The Tenant, GB Auto Service, Inc., is a leading provider of automotive aftermarket repair service with approximately 170+ locations across the U.S.

The subject investment property is situated along Mason Road which experiences average daily traffic counts of approximately 15,850 vehicles. Intersecting Mason Road is South Fry Road which brings an additional 15,600 vehicles through the immediate area daily. This Louetta Automotive benefits from exceptional demographics in the surrounding area. There are nearly 100,000 individuals residing within a three-mile radius of the property and more than 244,000 individuals within a five-mile radius, with the population projected to grow substantially in the next five years. Additionally, the subject property benefits from its location in an affluent neighborhood where average household income exceeds $189,000 in a one-mile radius.

This property is located just off a signalized corner and is strategically located in a dense residential and retail corridor near major national and local tenants which include: The Home Depot, Walgreens, Whole Foods, Hobby Lobby, Starbucks, Bank of America, Chase Bank, Wells Fargo, McDonald’s and many others. This property also benefits from being within close proximity to three schools, Seven Lakes High School, Beck Junior High School and Alexander Roosevelt Elementary School, which have a combined enrollment of over 5,000 students. Additionally, this Louetta Automotive benefits from its proximity to Memorial Hermann Convenient Care Center, a 400-bed general hospital and emergency center.

The Woodlands Sugar Land Metropolitan Statistical Area (Houston MSA) consists of nine counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller. Companies and residents benefit from the proximity to urban amenities and conveniences, the access to deep talent pools and resources, and the accessibility necessary for the affordable movement of people, goods and services. Katy, which is part of Fort Bend, Harris and Waller Counties, is home to one of the state’s most acclaimed school districts and is a magnet for companies, employees and recruitment firms seeking high quality education for their children. The economy in the Katy area accounts for over $21 billion in sales and includes nearly 11,000 companies with over 200 corporate headquarters. Headquarter operations and leading employers fueling growth in the Katy area include: BP North America, the area’s leading employer with 5,500 personnel, Academy Sports and Outdoors, ConocoPhillips, GEICO, Katy ISD, Schlumberger, Shell Exploration & Production and WoodGroup. Katy’s economy continues to thrive and rapidly grow due to its growth across various business sectors and has been recognized as one of the most recession resistant economies in the United States.

 

BROKER OF RECORD: Lic.# 9002994

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Glen Kunofsky

President, Founder
(212) 430-5115

Julia Bonacini

Analyst
(646) 805-1470