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Views: 98 DOM: 83 Updated: 10.25.24 Posted: 09.10.24 Status: Active

Summary

Price $6,277,000
Built/Renov 2024
Tenant Village Green Alzheimer's Care Home
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 14,000
Lease Start 12-01-2024
#Units 12
Price/SF $448.36
Expiration 11-30-2039
Tenant Type Medical/Health
NOI $408,000
R. Term 15.0
Ownership Fee Simple
Rent/SF $29.14
Increases 5.0%/5/yrs
Pop 5Mi 317,765
Lot/AC 1.27
Options 4/5yrs/7.5%
AHHI 5Mi $148,220

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 4 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the primary term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Village Green Alzheimer's Care Home is strategically located at the hard corner intersection of S. Peek Road and Cascade Creek Drive, with access to a daily traffic count of 8,334 vehicles. The property is conveniently situated right off Grand Parkway (100,000 VPD), and is in close proximity to prominent national tenants such as Exxon, Academy Sports + Outdoors, Costco, Jersey Mike's, Kroger,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Village Green, LLC is an operator of Village Green Alzheimer’s Care Homes which offers memory care facilities for individuals suffering from dementia and Alzheimer’s throughout the Houston and...


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Listing Broker

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