Village Green Alzheimer's Care Home

13233 Medical Complex Drive, Tomball, TX 77375

$3,820,000

Cap Rate 5.50%

Views: 64 DOM: 260 Updated: 05.20.24 Posted: 09.15.23 Status: Active

Summary

Price $3,820,000	Built/Renov 2018	Tenant Village Green Alzheimer's Care Home
Cap Rate 5.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 10,190	Lease Start 11-22-2018	#Units 1
Price/SF $374.88	Expiration 11-21-2033	Tenant Type Medical/Health
NOI $210,119	R. Term 9.5	Ownership Fee Simple
Rent/SF $20.62	Increases 2.0%/1/yrs	Pop 5Mi 112,982
Lot/AC 1.00	Options 3/5yrs/2%	AHHI 5Mi $118,319

Lease Highlights

The tenant has over 10 years of firm term remaining with 3 (5-year) option periods left to extend
The lease features 2% annual rental increases throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
The lease is personally guaranteed - tenant and guarantors are to report sales upon request
Income tax free state

Location Description

The site is strategically located along Medical Complex Drive, and benefits from nearby direct on/off ramp access into State Highway 249 (46,200 VPD). It is a major commuter thoroughfare connecting with Interstate 45 and provides direct access into downtown Houston. Village Green is within walking distance to numerous single-family communities and multi-family complexes, providing convenience...

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Key Features

Dense retail corridor
Hospital close
Strong tenant synergy
Highway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Absolute NNN
Annual rent increases
Personal guarantee

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Links

Village Green Alzheimer's Care Home Wikipedia Tomball, Texas Zip Code 77375 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Village Green Alzheimer's Care Home, LLC
Guarantor:Franchisee
Company:Personal Guarantee
# Units:1
Stock:Private

About Tenant

Village Green, LLC is an operator of Village Green Alzheimer’s Care Homes which offers memory care facilities for individuals suffering from dementia and Alzheimer’s throughout the Houston and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,115	31,946	132,965
2023 Total Population :	5,418	29,508	125,652
2023 Employed Civilian Pop :	2,381	14,788	62,935
2023 Total Businesses :	887	1,873	3,584
2023 Average Household Income :	$ 59,141	$ 110,926	$ 130,942
2023 Total Consumer Spending :	$ 126 M	$ 1034 M	$ 4725 M
2023 Median Age :	43	39	35
2023 Total Households :	2,424	10,769	42,182
2023 Pop Age 25+: Bachelor's Degree :	715	6,145	26,467
2023 Average Home Value :	$ 273,649	$ 373,713	$ 370,341

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
James St	School Rd	2011	4,610	0.45 mi
Vernon St	Barbara St	2011	640	0.49 mi
Theis Ln	Alice Rd	2011	4,790	0.62 mi
TX 249 Business	Keefer Rd	2021	20,000	0.62 mi
Tomball Parkway	Hooper Rd	2020	20,218	0.62 mi
Alma St	Ella St	2001	2,850	0.62 mi
Bs 249-B	Hooper Rd	2013	23,063	0.63 mi
Tomball Parkway	Hooper Rd	2018	22,261	0.63 mi
Hirschfield Rd	Bs 249-B	2011	1,520	0.65 mi
S Cherry St	Willowick St	2011	6,150	0.72 mi

Listing Broker

Frank Rogers

SRS: National Net Lease Group

Contact

29 Listings
1381 Views
2 Sold

Michael Carter

SRS: National Net Lease Group

Contact

28 Listings
1366 Views
2 Sold

Frank Rogers

Frank Rogers joined the National Net Lease Group as first vice president in the Detroit office in 2018. He specializes in the acquisition and disposition of single-tenant and multi-tenant net-leased investment properties. Frank joined SRS with more than five years of retail investment sales experience. At his previous firm, Frank was responsible for the management of his clients’ real estate portfolios across the nation, for which he advised them on the best course of action for their invest

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Michael Carter

Michael Carter joined the National Net Lease Group as first vice president in the Detroit office in 2018. He specializes in the acquisition and disposition of single-tenant and multi-tenant net-leased investment properties. Michael joined SRS with seven years of retail investment sales experience. Prior to joining SRS, he served as senior director with his previous firm. Michael’s deep understanding of the net lease industry and constantly growing market knowledge has earned him several oppo

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