Light Years Wine Shop, Southern Yankee Crafthouse & 5 Unit Multi-Family Building

Highlights:

• Light Years Natural Wine Shop + Bar is a Popular Wine Bar and Shop That Opened in 2018 and Was Named “One of The Best Bars in America” by Esquire Magazine in May 2024 – Signed a New 5-Year Lease in 2021 with One (1) 5-Year Option in 2026 at Fair Market Value, Providing Significant Upside Potential
• Light Years Just Finished a $500,000+ Kitchen Addition, Which Included Adding a Full-Service Restaurant & Recently Completed Updates to Their Plumbing & Drainage Systems
• Southern Yankee Crafthouse is a Successful Houston Gastropub Established in 2020 – The Tenant Signed a 5-Year Lease in 2020 and Has One (1) 5-Year Option Starting in 2026 at Fixed 2% Annual Rental Increases, Compounding Rent Growth and Hedging Against Inflation
• Southern Yankee Spent Over $500,000 Improving the Property in 2021 with a New Roof, a New Walk-In Cooler, New HVAC, Plumbing and Electrical, and Leveled and Reinforced the Entire Structure with Steel Beams
• Densely Populated, Infill Location with Excellent Demographics – Over 511,000 People in a 5-Mile Radius with Average Household Income Exceeding $184,000 within a 3-Mile Radius of the Property
• High Traffic Location – More Than 7,000 Vehicles Per Day on W. Alabama Street & Over 13,000 Vehicles Per Day on Nearby Montrose Blvd
• Extremely High Daytime Population of More Than 563,000 Employees & 53,000 Businesses
• Situated Directly Across from The University of St. Thomas with Over 3,600 Students Enrolled & 890 Faculty Members
• Located Adjacent to The Menil Collection, a 30-Acre Museum Campus with Multiple Art Gallery Buildings and Public Green Areas That Bring Visitors to the Area Daily
• Positioned Near an H-E-B Grocery Store That Brings Thousands of Daily-Needs Consumers Directly to the Trade Area on a Daily-Basis – More Than 2.0 Million Visits Over the Last Calendar Year
• Approximately 1.5 Miles from Rice University with More Than 8,400 Students Enrolled & Over 3,700 Faculty Members and Employees
• Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset

Documents: