1619 Gessner Rd. Houston, TX 77080
Summary
This Jiffy Lube is located next to Popeyes Chicken on N. Gessner Drive, one mile north of a ramp for Interstate-10 (U.S. 90). Traffic counts along Gessner Drive average 30,000 vehicles per day, while I-10 sees about 293,000 Memorial City Mall, anchored by vehicles per day. Dillard’s, JC Penney, Macy’s, Sears and Target is just one mile from the subject property along with Memorial Hermann Medical Center with 426 beds. Houston, a no-income tax state, is a major corporate center and is home to 18 Fortune 500 companies. The lease is guaranteed by Allied Lube Texas LP, one of the top Jiffy Lube franchisees with 74 locations throughout Texas.
Agent(s) Involved: Shawn Jass
Agency/Representation: Buyer
Transaction Details
Status: | Closed |
COE Date: | 1/31/2006 |
Price: | $500,000 |
Cap Rate: | 6.7% |
Tenant(s): | Jiffy Lube |
Year Built: | 1986 |
Bldg. Size: | 2,025 SF |
Lot Size: | 16,400 SF |
NOI | $33,500 |
Lease Term | 15 years NNN |
Renewal Options: | Three (3) Five (5) Year Terms |