Regions Bank (GL)

301 West 11th Street, Houston, TX 77008

$3,740,000

Cap Rate 5.75%

Views: 91 DOM: 74 Updated: 09.07.24 Posted: 04.25.24 Status: Sold 07.08.24

Summary

Price $3,740,000	Built/Renov 2007	Tenant Regions Bank (GL)
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,000	Lease Start 07-01-2006	#Units 1,280
Price/SF $748.00	Expiration 07-01-2026	Tenant Type Bank/Financial
NOI $215,000	R. Term 1.9	Ownership Ground Lease
Rent/SF $43.00	Increases 7.5%/5/yrs	Pop 5Mi 454,210
Lot/AC 1.84	Options 2/10yrs	AHHI 5Mi $149,915

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

Regions Bank has been operating in this location since 2006
The tenant has 2 years remaining on the current ground lease term with 2 (10-year) options to extend
The lease features 7.5% rental escalations throughout the initial term and fluctuating escalations at the start of each option period
Strong deposit base | $100M+ deposits in this location
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Regions Bank is strategically located on West 11th Street, with access to a daily traffic count of 10,830 vehicles. The property enjoys a prime location near the intersection with Yale Street (9,996 VPD). Additionally, it is within half a mile of several educational institutions, including Heights High School, Love Elementary School, Houston Heights High School, and Harvard Elementary School....

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Key Features

Hard corner intersection
In location for years
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Regions Bank Wikipedia Regions Bank Wikipedia Houston, Texas Zip Code 77008 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Regions Bank
Guarantor:Corp T and Rated
Company:Regions Financial Corporation
# Units:1,280
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NYSE: RF

About Tenant

Regions Financial Corporation (NYSE: RF) is a financial institution operating in the South, Midwest, and Texas. Regions provides financial solutions for a wide range of clients including retail...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	23,646	188,930	473,773
2023 Total Population :	22,872	177,064	450,157
2023 Employed Civilian Pop :	14,802	114,282	256,052
2023 Total Businesses :	1,575	11,340	34,382
2023 Average Household Income :	$ 186,042	$ 160,761	$ 139,111
2023 Total Consumer Spending :	$ 1764 M	$ 11879 M	$ 24710 M
2023 Median Age :	41	37	37
2023 Total Households :	11,153	86,202	205,980
2023 Pop Age 25+: Bachelor's Degree :	7,623	51,031	105,451
2023 Average Home Value :	$ 673,479	$ 517,325	$ 529,218

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W 11th St	Allston St	2001	16,710	0.04 mi
W 11th St	Allston St	2011	14,401	0.08 mi
Yale Street	W 12th St	2019	16,029	0.11 mi
Yale St	W 12th St	2011	9,670	0.12 mi
W 11th St	Yale St	2013	12,208	0.15 mi
Heights Blvd	E 11th St	2011	7,090	0.19 mi
Heights Boulevard	E 11th St	2019	11,405	0.20 mi
Heights Blvd	E 11th St	2011	8,200	0.20 mi
Heights Boulevard	W 10 1/2 St	2019	14,137	0.21 mi
W 11th St	Nicholson St	2014	7,523	0.29 mi

Listing Broker

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