Houston, TX - United Rentals
Market Price
6331 Liberty Rd, Houston, TX 77026
289,660
NOI
47,500 sqft
Building Size
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a modified gross leased, United Rentals investment property located in Houston, Texas. The tenant currently has 3+ years remaining with one (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and throughout the options thereafter, steadily growing NOI and hedging against inflation. The lease is a modified gross with landlord responsibilities limited to real estate taxes, roof, exterior and load-bearing walls and foundation making it an ideal, low-management investment opportunity for a passive investor. URI has invested approximately $3-$4M of its own capital into the site over the past several years, underscoring long-term commitment to the location. In-place rent is considered below market, offering meaningful mark-to-market and residual upside. United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,658 rental locations in North America.
The subject property is located along Liberty Rd which averages 5,800 VPD. The site benefits from nearby direct on/off ramp access to both Interstate 10 and Interstate 610, two major thoroughfares that combined average 328,900 vehicles passing by daily. The asset is ideally located in a dense retail/industrial corridor with numerous tenants including FedEx, Kroger Distribution Center, Love’s, DHL, SPD, Chase Bank, PNC and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site is in close proximity to Harris Health Lyndon B Johnson Hospital (215 beds), further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 266,000 and 256,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile trade area have an average household income of $87,313.
Location
Gallery
