The subject property is a 2,457-square foot freestanding Dunkin’ Donuts/Baskin Robbins restaurant in the Houston suburb of Cypress, Texas. The brand new 15-year absolute net lease has a franchisee guarantee from Yes Partners, LLC, a Texas LLC. Ten percent rent escalations are scheduled every five years, and the tenant has three, five-year options for renewal. The building was constructed in 2014 and sits on 0.83 acres.
The subject property is an out parcel to a Kroger anchored retail center at the intersection of Barker Cypress Road and FM 529. Traffic counts are approximately 35,800-vehicles per day on Barker Cypress Road and 33,000-vehicles per day on FM 529. Numerous national and regional retailers are in the neighboring area, including Ace Hardware, GNC, Little Caesar’s, T-Mobile, Subway, Chase Bank, Burger King, Bank of America, Spec’s, McDonald’s, Kohl’s, LA Fitness, Planet Fitness, Taco Bell, Wendy’s, CVS, Waffle House, and more. Langham Creek High School is approximately half of a mile east of the property. The surrounding area has excellent demographics, with a dense population of over 281,500 residents within five miles and an average household income exceeding $88,600.
The Cypress Fairbanks (Cy-Fair) region is located northwest of Houston. The two main crossroads, FM 1960 at U.S. Highway 290 and at State Highway 249, are 21 miles from Houston´s central business district. In addition, opening of the Sam Houston Tollway in recent years added excellent access to the south and to the east. The Cypress urban cluster ranks 50th in the top 100 highest-income urban areas in the United States. Large scale residential and commercial development beginning in the 1980s transformed the once rural area into one of the Houston area’s largest suburban communities. Continuing commercial development is producing thousands of new jobs every year in the Cy-Fair area.
- Brand New 15 Year, Absolute Net Lease
- No Landlord Responsibilities
- Franchisee Guarantee from Yes Partners, LLC | Operates Three Units in Texas
- 10% Rent Escalations Scheduled Every Five Years
- Tenant has Three, Five-Year Options for Renewal
- Out Parcel to a Kroger Grocery Anchored Shopping Center in a High Growth Suburb of Houston
- High Traffic Counts | 36,000 VPD on Barker Cypress Road and 33,000 VPD on FM 529
- Excellent Demographics | Five Mile Population of 281,500 | Average Household Income Exceeds $88,600