BB’s Tex-Orleans, Cypress, Texas

26010 Hempstead Rd no-imageVIEW MAP

Property Information

Price: $3,652,174

Cap Rate: 5.75%
NOI: $210,000
Lease Term: 20 Years
Lease Type: Absolute NNN
Building Size: Approximately 6,308 Square Feet
Year Built: 2007/2017
Status: Available
Lead Broker Information:

Randy Bell


Property Description

Investment Highlights

  • Long Term Absolute NNN Lease with 20 Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Four (5-Year) Options to Renew
  • 10% Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • High Traffic Location – Over 13,300 Vehicles Per Day on Hempstead Rd, More Than 40,000 Vehicles Per Day on Spring Cypress Rd & an Additional 114,946 Vehicles Per Day on Nearby US-290
  • Densely Populated, Infill Location with Excellent Demographics – Over 189,500 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $125,900
  • Large Format Restaurant at 6,308 Square Feet on a Sizeable 1.38 Acre Parcel with 89 Parking Spaces, Providing BB’s Tex-Orleans with the Ability to Effectively Handle High Restaurant Volume
  • Best in Class Tenant – BB’s Tex-Orleans is a Leading & Highly Successful, South Central & Southeastern Texas Cajun Restaurant Concept That Has Been Around for Over a Decade Now & Will Operate Thirteen Locations by the End of 2021
  • Located in an Affluent & Rapidly Growing Northwest Houston Suburb – Cypress-Fairbanks Has Seen Tremendous Growth with Population More Than Doubling Since the 2000 Census
  • Strategically Positioned Across from Cypress Towne Center, a Target Anchored Center That Brings Daily-Needs Consumers to the Immediate Trade Area – It Has Averaged an Estimated 373,333 Customer Visits Per Month Over the Last Calendar Year
  • Tremendous Recent Growth – Over 370% Population Growth in a 5-Mile Radius Since the 2000 Census – Projected Continued Growth of 3.7% Annually Until 2026
  • High Daytime Population of Over 41,000 Employees & 6,000 Businesses – More Than 10.7 Million Square Feet of Office & Industrial and 10 Million Square Feet of Retail & Restaurant Space within a 5-Mile Radius of the Property
  • Approximately 2.4 Miles from Bridgeland, a New 11,400-Acre Master Planned Community That Was the #1 Best Selling MPC in Texas & #9 Best Selling in the Nation for 2020 – At Completion, It Will Have More Than 65,000 Residents & 21,000 Luxury Homes Ranging from $220,000 to Over $1 Million
  • Approximately 3 Miles from the 125 Bed Memorial Hermann Cypress Hospital – the Newest Addition to the Memorial Hermann Health System, Which is the Largest Not-For-Profit Health System in Southeast Texas, Employing Over 6,700 Physicians & 27,000 Staff
  • Located in the Cypress-Fairbanks Independent School District, Which is the 3rd Largest School District in the State of Texas & 22nd Largest in the U.S. with 92 Campuses & an Estimated 2021 Enrollment of Over 118,000 Students
  • Located 5.6 Miles from the Lone Star College Cy-Fair Campus with a Total Enrollment of Over 22,300 Students and More Than 3,000 Faculty Members & Employees on Staff
  • Great Multifamily Density with Over 6,500 Apartment Units within a 5-Mile Radius – Multiple New Residential Communities Currently Being Developed in Immediate Proximity to the Site
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset