for sale - loopnet · the past ten years, pearland is on its way to becoming the next major...
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6307 Broadway St, Pearland, TX 77581
FOR SALE 4,837 SF Retail Building
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
PROPERTY OVERVIEW• Long-Standing Tenant Retention History• Monument Signage on Property• Fastest-Growing City in the Houston Metropolitan Area• Second Fastest-Growing City in Texas• 20 Minutes from Houston Central Business District• 15 Minutes from Houston Medical Center• 8 Miles from Hobby Airport
INVESTMENT HIGHLIGHTSIncome: $134,142.84
Expenses: $39,331.75
NOI: $94,811.09
Price Per SF: $341.12
Sales Price: $1,650,000.00
Cap Rate: 5.75%
FINANCIAL SUMMARY
Address: 6307 Broadway Street, Pearland, Texas 77581
Location: North side of Broadway (FM 518) between Lazy Bend Street and Thelma Street
County: Brazoria
Parcel: 0219-0038-140
Building Area: 4,837 Square Feet
Construction: Masonry and Steel
Year Built/Renovated: 1980/1993
Land Area: 1.10 Acres
Tenancy: Multi-tenant
Occupancy: 100%
Parking: 24 Surface Spaces4.72/1,000 SF
Traffic Count: 35,657 Vehicles Per Day on Broadway Street
PROPERTY SUMMARY
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
Tenant Unit SF Term Annual Base Rent
Annual NNN Expenses
Annual Gross Rent Renewal Option
Heartland Dental Care Inc. dba Dental Care of Pearland 6307 3,450 4/1/2012 – 3/30/2022 $75,600.00 $28,176.24 $103,776.24 (1) 5-year term at
$6,615.00/month
Carmen Garrett dba The Quest Early Learning Center
6307 Ste. 111 1,387 9/1/2015 – 8/31/2020 $20,797.56 $9,569.04 $30,366.60 N/A
TOTAL 4,837 $96,397.56 $39,331.75 $134,142.84
RENT ROLL
ABOUT THE TENANTS
A Customized Learning Experience: If you're looking for a solution to your early childhood needs, or a program for your school age children, the answer can be as easy as a visit to The Quest Early Learning Center. Your children as young as birth all the way through Pre-K have a special place here where a nurturing environment and caring staff help your children grow and flourish. Parents too will find that being involved with The Quest Early Learning Center is more than a partnership in raising their children. Open communication with staff and directors is encouraged, and a variety of activities are planned especially to involve parents in special events in their child's school activities.
http://thequestearlylearningcenter.com/contact-us/
Headquartered in Effingham, IL, Heartland Dental was founded in 1997 by Dr. Workman. Heartland Dental is the largest dental support organization in the United States, providing non-clinical administrative support services to over 840 offices and more than 1,300 supported dentists across 35 states. Heartland Dental partners with its supported dentists to deliver high quality care across the full spectrum of dental services. In March 2018, it was announced that private-equity firm KKR has agreed to acquire a majority stake in Heartland Dental, LLC.
https://heartland.com/contact
Type of Operating Expense Amount
Flood Insurance $2,078.00
Property Insurance $4,505.34
Landscaping & Lawn Care $4,855.70
Legal Fees $500.00
Gutter Cleaning $113.00
Painting $1,070.59
Roof Repairs $733.94
Taxes $14,474.83
Tax Protest $571.50
General Repairs $537.09
Outside Lighting Repairs $321.92
Legal Expenses $250.00
Appraisal Protest $571.50
Accounting $1,250.00
Electrical Repairs† $908.55
A/C Repairs† $2,690.01
Washer & Dryer Repairs† $269.59
Office Repairs† $130.00
Plumbing Repairs† $182.40
Generator Service Contract & Repairs† $3,030.70
Handyman Repairs† $537.09
TOTAL $39,311.75‡
EXPENSES
† Heartland reimburses Landlord 100% of these costs.‡ Heartland pays 100% of the gas, water, and trash bills. Landlord gives Heartland a credit for Quest's Pro-Rata Share; and Quest reimburses Landlord for its Share. Quest's Pro-Rata Share is estimated at $1,753.63 per year.
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
LOCATION MAP
SAM HOUSTON PKWY E
6307 BROADWAY ST
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
Downtown Pearland
BROADWAY STREET
SITE
AERIAL
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
PARCEL MAP
B R OA D WAY S T
LAZY
THELM
A ST
ODAY RDB E N D S T
WES
T OA
KS B
LVD
W E S T OA K S C I R N
HARK
EY R
D
SUBURBAN GARDEN
RD
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
SURVEY
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
ABOUT PEARLAND Pearland is one of the fastest growing cities in Texas, positioned on a growth curve that extends well into the 21st century. However, Pearland's history goes beyond the initial founding date. Native Indian inhabitants hosted their first European visitors in 1528 including such famous names as Cabeza de Vaca, La Salle, and Stephen F. Austin leap out from this tumultuous chapter in Texas' colorful history that traces the area's development to present-day Pearland. The tenacity of these early settlers formed the backbone of a thriving community that continues to grow, increasing from approximately 19,000 to more than 100,000 residents in the last two decades. In the spirit of our earlier settlers, we invite you to come for a visit and stay for a lifetime!
As the fastest growing city in the Houston region, Pearland has everything your company needs to be successful. Affordable housing, outstanding schools, safe neighborhoods and superb quality of life has led to tremendous growth in Pearland. With millions of square feet of retail, office and residential construction completed in the past ten years, Pearland is on its way to becoming the next major employment center in the Houston region. Our close proximity to Houston, just a short 20 minute drive to downtown, allows you to experience all the city has to offer including professional sports, world-class cultural amenities and recreation.
https://www.pearlandtx.gov/residents/about-pearland
Pearland
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
DEMOGRAPHICS
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completenessor accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice. 3The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The
presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
FOR MORE INFORMATION:
Brent Fredricks
* Demographic data derived from 2010 US Census
Office/Retail Building For Sale6307 Broadway St, Pearland, TX 77581
6307 Broadway St, Pearland, TX 77581Office/Retail Building For Sale
POPULATION 1 MILE 5 MILES 10 MILES
TOTAL POPULATION 6,109 116,997 600,726
MEDIAN AGE 34.2 33.3 32.4
MEDIAN AGE (MALE) 33.5 32.4 31.4
MEDIAN AGE (FEMALE) 35.1 34.2 33.3
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
TOTAL HOUSEHOLDS 2,112 39,628 195,847
# OF PERSONS PER HH 2.9 3.0 3.1
AVERAGE HH INCOME $84,595 $89,381 $65,835
AVERAGE HOUSE VALUE $153,833 $158,277 $139,277
ETHNICITY 1 MILE 5 MILES 10 MILES
% HISPANIC 32.4% 26.7% 40.3%
RACE 1 MILE 5 MILES 10 MILES
% WHITE 74.1% 62.2% 51.6%
% BLACK 10.1% 20.4% 28.3%
% ASIAN 3.9% 8.3% 5.8%
% HAWAIIAN 0.0% 0.0% 0.0%
% INDIAN 0.0% 0.3% 0.5%
% OTHER 9.6% 6.4% 12.1%
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
BROKER
FOR MORE INFORMATION, PLEASE CONTACT:
Brent FredricksSenior Vice President
The information contained herein was obtained from sources believed reliable; however, Moody Rambin makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
11-2-2015
Information About Brokerage Services
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be supervised by a broker to perform any services and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests;
Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT OR SUBAGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. A subagent represents the owner, not the buyer, through an agreement with the owner’s broker. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary: Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:
ᴑ ᴑ ᴑ
that the owner will accept a price less than the written asking price; that the buyer/tenant will pay a price greater than the price submitted in a written offer; and any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
License No. Email Broker’s Licensed Name or Primary Assumed Business Name
Phone
License No. Designated Broker’s Name
License No. Agent’s Supervisor’s Name
License No. Email Phone Sales Agent/Associate’s Name
Buyer/Tenant/Seller/Landlord Initials Date
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov IABS 1-0
Phone
Phone
MRIO, Inc. 542512 (713) 773-5500
Robert O. Cromwell, II 385561 [email protected] (713) 773-5500
Brent Fredricks 350464 [email protected] (713) 572-3500