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2508 Bartlett St - Ground Leased Parking Lot Immeuble de 20 037 pi² • Spécialité • À vendre 7 510 367 $ CAD • Taux de capitalisation 4,25% • Houston, TX 77098
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FAITS SAILLANTS DE L'INVESTISSEMENT
- Premier urban location near West University, River Oaks and Boulevard Oaks neighborhoods
- Absolute NNN Ground Lease
- Exceptional demographics featuring 209,613 residents earning $180,650 average household income within 3 mile radius
- Mission critical surface parking for Goode Co.
- 5+ year remaining with 2% escalations annually
- The tenant’s significant capital improvements and expansion at Armadillo Palace demonstrate its long-term commitment to the location
RÉSUMÉ DE L'ANNONCE
THE OFFERING
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground lease interest in the 0.46-acre surface parking lot leased to Goode Company’s Armadillo Palace. The property provides mission critical parking and access to the Armadillo Palace and Goode Co Events/Catering. The Armadillo Palace venue is known for its unique blend of dining and entertainment. It features a large outdoor patio and live music events. The design reflects a Texas ranch-style aesthetic.
The parking lease expires 2/28/2031 (5+ years) with 2% annual increases. It is absolute NNN with no landlord responsibilities.
The Armadillo Palace opened in 2007. It is situated on Kirby Drive in Houston’s urban setting in the City of West University Place, one of Houston’s most affluent communities. Due to its location, the Armadillo Palace attracts residents, students and employees of neighboring Rice University and the Texas Medical Center.
Goode Company owns several neighboring eateries: Goode Co. BBQ, Goode Co. Taqueria, Goode Co. Seafood.
Property Details:
Address: 2508 Bartlett St, Houston, TX 77098
Location: Near the intersection of Kirby Drive
Acreage: 0.46 acres
Parking: +/-50 spaces
Ownership: Ground Lease
Tenant: Goode-Cook, Inc. (Goode Co - Armadillo Palace)
Lease Type: Corporate Lease
Net Operating Income: $230,496
Rent Escalations: Annual
Location: Affluent Urban setting
Average Household Income: $121,805 (1 mile)
Average Home Value: $969,307 (1 mile)
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground lease interest in the 0.46-acre surface parking lot leased to Goode Company’s Armadillo Palace. The property provides mission critical parking and access to the Armadillo Palace and Goode Co Events/Catering. The Armadillo Palace venue is known for its unique blend of dining and entertainment. It features a large outdoor patio and live music events. The design reflects a Texas ranch-style aesthetic.
The parking lease expires 2/28/2031 (5+ years) with 2% annual increases. It is absolute NNN with no landlord responsibilities.
The Armadillo Palace opened in 2007. It is situated on Kirby Drive in Houston’s urban setting in the City of West University Place, one of Houston’s most affluent communities. Due to its location, the Armadillo Palace attracts residents, students and employees of neighboring Rice University and the Texas Medical Center.
Goode Company owns several neighboring eateries: Goode Co. BBQ, Goode Co. Taqueria, Goode Co. Seafood.
Property Details:
Address: 2508 Bartlett St, Houston, TX 77098
Location: Near the intersection of Kirby Drive
Acreage: 0.46 acres
Parking: +/-50 spaces
Ownership: Ground Lease
Tenant: Goode-Cook, Inc. (Goode Co - Armadillo Palace)
Lease Type: Corporate Lease
Net Operating Income: $230,496
Rent Escalations: Annual
Location: Affluent Urban setting
Average Household Income: $121,805 (1 mile)
Average Home Value: $969,307 (1 mile)
FAITS SUR LA PROPRIÉTÉ
| Prix | 7 510 367 $ CAD | Classe d’immeuble | C |
| Prix par pi² | 374,82 $ CAD | Taille du lot | 0,46 AC |
| Type de vente | Investissement | Taille du bâtiment | 20 037 pi² |
| Taux de capitalisation | 4,25% | Nombre d’étages | 1 |
| Type de propriété | Spécialité | Année de construction | 1998 |
| Sous-type de propriété | Parc de stationnement |
| Prix | 7 510 367 $ CAD |
| Prix par pi² | 374,82 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 4,25% |
| Type de propriété | Spécialité |
| Sous-type de propriété | Parc de stationnement |
| Classe d’immeuble | C |
| Taille du lot | 0,46 AC |
| Taille du bâtiment | 20 037 pi² |
| Nombre d’étages | 1 |
| Année de construction | 1998 |
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Walk Score®
Un paradis pour un marcheur (92)
Impôts fonciers
| Numéro de lot | 0572430000006 | Évaluation des bâtiments | 37 023 $ CAD |
| Évaluation du terrain | 2 325 031 $ CAD | Évaluation totale | 2 362 054 $ CAD |
Impôts fonciers
Numéro de lot
0572430000006
Évaluation du terrain
2 325 031 $ CAD
Évaluation des bâtiments
37 023 $ CAD
Évaluation totale
2 362 054 $ CAD
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2508 Bartlett St - Ground Leased Parking Lot
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