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888 W Bay Area Blvd 7,835 SF Retail Building Webster, TX 77598 $7,486,208 CAD ($955.48 CAD/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN lease with ±13.75 years remaining and 2% annual rent increases.
- High-visibility location with ±37,000 VPD on W Bay Area Blvd and near I-45.
- Proximity to Baybrook Mall, a super-regional center with 200+ retailers.
- Corporate-guaranteed lease by Red Lobster with 545+ locations nationwide.
- Affluent area with average household income exceeding $113,000 within 5 miles.
- Located in Houston MSA, the 5th largest and fastest-growing metro in the U.S.
Executive Summary
Patrick Graham
Matthews Real Estate Investment Services, Inc
License # 9005919, 528005 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 9005919, 528005 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,835 SF
Building Class
B
Year Built
2001
Price
$7,486,208 CAD
Price Per SF
$955.48 CAD
Cap Rate
6%
NOI
$449,172 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
2.23 AC
Parking
110 Spaces (14.04 Spaces per 1,000 SF Leased)
Frontage
583’ on Bay Area Blvd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Red Lobster began as a single family-owned restaurant in Lakeland, Florida, and was founded in 1968 by Bill Darden. The company grew into a casual dining restaurant chain focused on seafood, with menus built around dishes such as shrimp, crab, lobster, and other coastal classics. Red Lobster emphasizes seafood sourcing standards, with a focus on traceability, sustainability, and responsible supply practices across its restaurant business.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0361750000005 | Improvements Assessment | $1,316,132 CAD |
| Land Assessment | $4,063,717 CAD | Total Assessment | $5,379,849 CAD |
Property Taxes
Parcel Number
0361750000005
Land Assessment
$4,063,717 CAD
Improvements Assessment
$1,316,132 CAD
Total Assessment
$5,379,849 CAD
(214) 466-6549
x4073
Contacts
-
Dylan Freeney -
Brett Baumgartner -
Josh Bishop -
Matthews Real Estate Investment Services
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888 W Bay Area Blvd
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