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Midtown Crossing | Multi-Tenant Leasehold 510 Gray St 14,788 SF 100% Leased Retail Building Houston, TX 77002 $6,525,170 CAD ($441.25 CAD/SF) 7.65% Cap Rate

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Investment Highlights

Long Term Ground Lease | Options to Extend | NNN Leases | 100% Occupied | Long Term Leases
Young Professional Demographic | Active Working Population

Heart of Midtown | Downtown Proximity | Major Demand Drivers within 5 Miles.
High Traffic Intersections | Multiple Links to Major Thoroughfares

Executive Summary

SRS Capital Markets is pleased to present the opportunity to acquire the leasehold interest (building ownership) in Midtown Crossing, a 14,788-square-foot, NNN-leased multi-tenant retail investment located in Houston, Texas. The property sits on a ground lease that has been in place for 22 years with nine years remaining on the current term and four additional five-year extension options. Midtown Crossing is 100% leased, featuring a strong tenant mix with long-term leases, including Gyu-Kaku Japanese BBQ (3,500 SF) and Zalat Pizza (1,687 SF), both with over five years of remaining lease term. Additionally, a new 10-year lease has been signed with Umiya Sushi & Hibachi for the 5,951 SF corner space, with occupancy expected later this year.