Houston, TX - Exxon (Clay Rd)
$4,286,000
9235 Clay Road, Houston, TX 77080
7
Cap Rate
300,000
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, personal guaranteed, Exxon investment property located in Houston, Texas. The tenant, Exxon will sign a brand new 15-year lease at close of escrow with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The property is absolute NNN leased with no landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Exxon is a leading global energy company, operating a vast network of retail fuel stations and supplying customers with gasoline, diesel, and other petroleum products across the United States and international markets.
The property is located along Clay Rd, which averages 25,400 vehicles passing by daily and is a major retail thoroughfare serving the city of Houston. Its location provides convenient access and visibility, while the surrounding retail and service businesses help support consistent consumer activity. In addition, the site is located a few miles away from Northwest Crossing Centre, a 167,000 square foot shopping center anchored by Target, Hibbett Sports, Planet Fitness, and more. Furthermore, the asset is situated near numerous multi family communities drawing consumer traffic to the site, such as Villa Del Sol Apartments (347 Units), Northwest Corners Apartments (466 Units), and Cerca Demi Apartments (377 Units). Moreover, the site is located just west of U.S. 290 (197,400 VPD), a major east/west traveling highway helping draw significant consumer traffic to the area. The property is in a retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Ross Dress for Less, ALDI, H-E-B, and more, further increasing consumer traffic to the site. As an established global energy brand, Exxon attracts both local residents and commuters, benefiting from its convenient fueling services, quality petroleum products, and trusted brand recognition. The 5-mile trade area is supported by a population of over 309,300 with an affluent average household income of $132,877.
Location
Gallery
