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4519 Griggs RdHouston, TX 77021
Gordon Restaurant Market
Asset ClassRetail
Cap Rate6.75%
Rentable SF: 27,115Access Data Room
NNN Investment Opportunity
overview of deal

Overview

Gordon Restaurant Market is a NNN investment opportunity located at the NEC of Griggs Rd & Cullen Blvd in Houston, Texas. The tenant recently signed a long-term, 10 year lease with 3, 5-year options to extend, demonstrating their commitment to the site. The tenant is currently in their 3rd term. The lease features annual rental increases throughout the initial term and option period. This attractive rent structure and steadily growing NOI hedges against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment for the passive investor.

Investment Highlights

GLA (Land): 128,907 SF

GLA (Building): 27,115 SF

Year Built: 1950

LL Responsibilities: NNN

Traffic Counts:

Griggs Rd: 8,489 CPD ‘22

Cullen Blvd: 4,282 CPD ‘23

Demographics

1 Mile
3 Miles
5 Miles
2025 Population
16,705
156,017
447,170
5 Yr Proj. Growth
16,395
155,089
451,883
Daytime Pop.
11,575
120,803
483,408
Total Households
6,637
60,051
187,067
Avg HH Income
$86,169
$87,004
$113,431
Median Home Value
$278,418
$283,207
$358,363
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4519 Griggs RdHouston, TX 77021
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