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Views: 49 DOM: 216 Updated: 11.25.24 Posted: 06.13.24 Status: Active

Summary

Price $33,975,000
Built/Renov 2024
Tenant H-E-B
Cap Rate 5.00%
Lease Type Double NN
Guarantor Corporate
Size/SF 122,735
Lease Start 02-21-2024
#Units 435
Price/SF $276.82
Expiration 02-29-2044
Tenant Type Grocery
NOI $1,698,750
R. Term 19.1
Ownership Fee Simple
Rent/SF $13.84
Increases 8.0%/5/yrs
Pop 5Mi 196,660
Lot/AC 12.86
Options 6/5yrs
AHHI 5Mi $119,128

Lease Highlights

  • Brand new 2024 construction
  • H-E-B recently executed a new 20-year lease with 6 (5-year) options to extend
  • The lease features fluctuating rental increases throughout the initial term and option periods
  • Corporate guaranteed lease

Location Description

H-E-B is strategically located at the signaled, hard-corner intersection of Morton Ranch Road and Katy Hockley Cut Off Road, with access to a combined daily traffic count of 23,643 vehicles. The property features an H-E-B Fuel Station with a Car Wash. Furthermore, it is conveniently located just 0.5 miles from The Oak at Katy Park, a new development comprising 348 units, and 2.5 miles from...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: H-E-B
  • Guarantor:Corporate
  • Company:H-E-B
  • # Units:435
  • Stock:Private

About Tenant

H-E-B is a Texas-based grocery store chain which has been at the forefront of the grocery industry, introducing self-service formats, refrigeration for perishable items, and modern marketing...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,342 92,756 228,558
2024 Total Population : 13,027 83,668 204,864
2024 Employed Civilian Pop : 6,732 42,925 105,106
2024 Total Businesses : 170 2,320 5,930
2024 Average Household Income : $ 134,436 $ 123,830 $ 125,769
2024 Total Consumer Spending : $ 473 M $ 2983 M $ 7483 M
2024 Median Age : 33 35 35
2024 Total Households : 4,031 27,602 68,096
2024 Pop Age 25+: Bachelor's Degree : 2,213 16,111 41,546
2024 Average Home Value : $ 372,275 $ 355,044 $ 361,183
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Katy Hockley Cut Off Rd Katy Hockley Rd 2001 5,900 0.10 mi
Katy Hockley Cut Off Rd Rexora Ln 2011 4,460 0.28 mi
Rexora Ln Katy Hockley Cut Off Rd 2011 590 0.37 mi
Morton Rd Katy Hockley Cut Off Rd 2011 4,840 0.39 mi
Katy Hockley Rd Morton Rd 2006 7,355 0.60 mi
Fortuna Dr Rexora Ln 2006 260 0.60 mi
Katy Hockley Cut Off Rd Clay Rd 2011 9,107 0.74 mi
Town Park Blvd Baylor Dr 2011 1,570 0.77 mi
Morton Rd Porter Rd 2012 6,326 0.83 mi
Katy Fort Bend Rd Franz Rd 2014 14,527 0.93 mi

Listing Broker

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