Church's Chicken NNN Property For Sale — Pasadena, TX
929 E Southmore Avenue, Pasadena, TX 77502
This Church's Chicken property is located in Pasadena, a suburb of Houston. It is operated by an experienced 13-unit franchisee. This is a sale-leaseback opportunity with the tenant entering into a new 15-year absolute NNN lease, featuring escalations every five years and four five-year options to extend. The property is situated in a densely populated area west of Houston, with over 137,000 residents within a three-mile radius. The location benefits from high traffic counts on Southmore Avenue and is in proximity to the Pasadena Town Square Mall. The 1,176 SF building, constructed in 1986, offers good visibility and easy access, including a drive-thru.
- Address: 929 E Southmore Avenue, Pasadena, TX 77502
- Asking price $960,000
- 7.50% cap rate
- NOI $72,000
- 15 years remaining
- NNN lease
- Year built: 1986
- Building size: 1,176 SF
- Lot size: 0.29 acres
- Lease expiration: Sep 30, 2021
- Rent increases: Lease rate increases every 5 years
- Guarantor: Corporate
Location
This Church's Chicken property is at 929 E Southmore Avenue in Pasadena, Texas.
Asset type: Retail