Pearland, TX - Longwood Crossing

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, 3-tenant investment property located in Pearland, Texas. The current tenants are Starbucks and Havana Nail Spa with the third suite vacant, providing a value-add opportunity for investors. Both tenants have options to extend with 10% rental increases at the beginning of each option. The leases are NNN, limiting potential expense leakage and allowing for the pass-through of most operating expenses.

The subject property is located near the signalized, hard corner intersection of Broadway Street and Dixie Farm Rd which combine to average more than 40,800 vehicles passing by daily. Broadway Street is the major retail thoroughfare serving the city of Pearland. The asset is located in close proximity to a Home Depot anchored center that features other national/credit tenants such as Chick-fil-A, GameStop, and Marco’s Pizza. The asset is also near a Walmart Supercenter anchored center with other tenants including Whataburger and Panda Express. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a H-E-B, Lowe’s, Academy, Hobby Lobby, Raising Cane’s, Chipotle, First Watch, Crumbl, and more, further increasing consumer traffic to the site. The immediate trade area is supported by a population of over 194,100 residents and 59,000 employees with an average household income of $145,930 within 3 miles.

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Listing ID: a28TP000002QODdYAO