Houston, TX - Exxon
$5,568,000
4624 Navigation Blvd, Houston, TX 77011
6.25
Cap Rate
348,000
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, gas station investment property located in Houston, Texas. The tenant, Navigation Business LLC, will sign a brand-new 15-year lease at the close of escrow (sale leaseback) with
2 (5-year) options to extend, demonstrating their commitment to the site. The The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The property was fully renovated into an Exxon branded fuel station in 2024 and has strong fuel sales (Contact Agent for Details) meeting the IRS requirements to qualify for bonus depreciation giving an investor significant tax benefits.
The property is located at the signalized, hard corner intersection of Navigation Blvd and Lockwood Dr with a combined (20,200 VPD). Navigation Boulevard is a primary four lane retail and commuter road funneling directly to Downtown Houston which is only 2.5 miles from the property. The asset has excellent visibility and multiple points of ingress/egress making for easy access for those needing fuel coming from any direction. In this quickly gentrifying neighborhood, the property is also nearby the University of Houston, which has almost 49,000 students enrolled and helps attract consumers to the trade area. The property is in close proximity to nearby national/credit tenants including The Home Depot, Target, Kroger, Macy’s, and more. The 5-mile trade area is supported by a population of over 371,900 residents and 360,300 employees with an affluent average household income of $112,391.
Location
Gallery
