17703 FM 1488 Road, Magnolia, TX
CAP Rate: 6.00%
Net Operating Income: $84,000
Lot Size: 0.91 AC
This offering is 100% leased to AutoZone under a recently extended net lease. The property is located in Magnolia, Texas. The asset is comprised of 7,245 SF on approximately 0.91 acres. The lease calls for minimal landlord obligations and the tenant has four 5 year options to renew. The lease is corporately guaranteed by AutoZone, Inc. The asset is well situated in a major retail corridor.
Magnolia, Texas is located in the Northwest suburban portion of the Houston metropolitan area, approximately sixty miles northwest of Downtown Houston. The AutoZone is located on FM 1488 highway, approximately fifteen miles west of the Woodlands, an upscale master planned community in the North Houston metro area. Numerous employers have located in the Woodlands area, creating job opportunities for folks living in the Magnolia area. Magnolia has a wider trade area, and offers a small town country lifestyle, while still offering daily living and convenience services and neighborhood shopping centers and retail.