Houston, Texas – Our information today is from the great State of Texas. We have information on the Houston, Texas area regarding NNN lease properties. The Houston economy has been growing despite problems with Border issues and crime from that topic. Houston’s economy is more diverse than in previous years, when approximately 80% of all jobs were tied to energy. Houston also has a relatively lower cost of living compared to other large Cities. This proves to provide a competitive advantage for Houston area triple net lease properties.
Since Houston is growing at a strong pace, that is excellent for “NNN” Triple Net Lease Properties investments in the area. The particular area of west Houston, in the past six months has seen exceptional growth. We found a Net Lease Property transaction, with a single tenant, and a 12 year absolute NNN lease has recently sold. The Triple Net Leased Property has the lease guaranteed by Sonic Automotive, Inc. as the Tenant. Sonic Automotive is currently a Fortune 500 company and a member of the Russell 2000 Index. The net-lease property Tenant is among the largest automotive retailers in the United States. Sonic Automotive, Inc. has for years had a financial staff at this Jaguar Houston Property. Sonic Automotive, Inc. has a financial staff that has expert advice for investors seeking an affordable Jaguar car loan or lease.
This Triple Net Lease Property was originally offered at a 9.17% Cap Rate. Also, the Tenant of this “NNN” Triple Net Lease Property, Sonic Automotive, Inc is the number three ranked automotive group in the United States currently. The sales price was $11,000,000 and that was the same price that this “NNN” Triple Net Lease Investment was marketed for. We are a huge difference with the triple net lease property obtaining their asking price as compared with the weak residential real estate market. This is also partially due to “NNN” Triple Net Lease Properties being highly desired for security reasons.
A North Carolina-based publicly traded corporation purchased this Triple Net Lease Property which is leased as a Jaguar-Land Rover automobile dealership. The “NNN” Triple Net Lease Property located in Houston, is situated on 7.5 acres of property. This NNN Lease Investment Property address is 18205 I-45 North, Houston, Texas. The NNN Lease Investment is a 37,646 square-foot building with all the modern gear for a Jaguar Car Dealership. NNN Properties are ideal for a 1031 Exchange.
Here are more reasons NNN commercial real estate investors want NNN Investment Property in Houston. Houston, Texas is an area of approximately 1000 square miles and is one of the fastest growing communities in Texas. It is characterized by large master planned suburban communities and more urban-styled living environments. With an economy in Houston thriving, NNN Investment Properties selling Jaguars and Land Rovers can be desirable. The seller of the NNN Leased Investment Property was a Texas-based developer.
Another benefit for this “NNN” Lease Property was the assumable Investment Property financing that was in place. NNN Lease Investment Properties with assumable financing in place are at the op of the list for NNN Commercial Real Estate Investors. This Triple Net Lease Property, a Jaguar-Land Rover automobile dealership had in place assumable financing, and was approximately a 8.4% cash on cash return.
Houston is a business-friendly city defined by optimistic citizens that are motivated by success. This Houston, Texas region offers business access to the largest port in the United States, the largest medical center in the world – the Texas Medical Center. Also more positive information for “NNN” Triple Net Lease Properties Buyers, is that this area has more energy industry corporate headquarters than anywhere in the world.
Feel free to Contact us to sell or purchase various Net Lease Properties.