Office Depot - Houston, TX
4534 FM 1960 Rd W Houston , TX 77069

Office Depot - Houston, TX - retail for sale

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Overview



The Office Depot, a single-tenant property in Houston, TX is up for sale. The property is spread across 2.34-acres between Stuebner Airline Drive and FM 1960 RD W, a four-way signalized intersection and is adjacent to local demand drivers like Ross, Starbucks, Hobby Lobby and Petco. The Office Depot has occupied the location for more than 30 years with 4.8 years of lease term remaining.

Investment highlights


  • Fee Simple Interest
  • Exceptional rent-to-sales ratios of 6.5 - 7.5% since 2015 with over 30 years operating history
  • Significant sales growth in 2018 at corporate level, achieving $11 billion (up 9% YOY)
  • Preeminent Houston location with 80,000 VPD
  • Northwest submarket ranks second across Houston in retail density and vacancy rate
  • Affluent demographic profile ($90,000 AHHI) with growth trends
General
Property type Retail
Tenure type Sale/Purchase
Property address 4534 FM 1960 Rd W, Houston, TX 77069-4602
Market Houston
Land in acres 2.34
Building size 32,918  ft2
Year built 1978
Financial
Price $3,862,000
Cap rate 7.50%
Current NOI $289,678.00
Lease
Tenant's name Office Depot, Incorporated
Credit rating (Moody's) Ba3
Lease type NN
Annual rent $289,678.00
Lease expiration date 06/30/2024
Remaining term 4.6Yrs

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