Irongate Commercial

GROCERY STORE

Texas Roadhouse Ground Lease

Marysville (Columbus MSA), OH

`Listing Price:` $3,073,000

Cap Rate	6.50%
Tenant Name	Dollar General Corporation
Years Remaining On Lease	6.5
Gross SF	33,816
Guarantor	Corporate Guarantee
Rentable SF	33,816
Price/Gross SF	$99.36
Lease Type	Double Net
Rent Per Square Feet	$6.46

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The Offering

2626 Fountain View is an incomparable offering with an enviable location in the Great Uptown Area between Uptown Houston and the Westchase District, institutional quality finishes and best-of-class amenities, strong occupancy history, diversified tenant employment base, and desired walkability to the numerous retail, dining and employment options just steps away from your front door.

The Houston multifamily market is experiencing extremely strong market fundamentals with almost 15,000 units absorbed throughout the Houston MSA since January, 2021. Rental rates within the Galleria/Uptown submarket have increased 9.6% over the last six months annualized with an increase in occupancy of 4.5% over the same time period according to ApartmentData.com.

Investments Highlights

93^%

Strong Average occupancy last 12 monts despite COVID

14,917

Overall Units Absorbed in Houston YTD

$4000^/MO

Avarage Rent for home in neighboring westhaven Estates

3^rd

Houston’s Ranking in U.S. for Net Absorption

4.9^%

Avarage Job Growth Projected for 2021-2022

294,000

Jobs to be added in houston MSA over next 5 years

Property Details

AMR Commercial, LLC. is pleased to present this opportunity to purchase the Walgreens in Downtown Rockville, Maryland.
The lease has almost 7 years remaining on an absolute net lease with four (4) five (5) year options with rental increases, and no landlord responsibilities whatsoever. This Walgreens store is open every day from 8:00 a.m. to 10:00 p.m., which speaks to the strength of the location.

Montgomery College and the bustling Rockville Town Center are each less than 1 mile away. Shady Grove Adventist Hospital is a ten minute drive from this location. This 266-bed hospital employs more than 3,000 doctors and medical staff and serves more than 170,000 patients annually. This Walgreens is located on MD 355, the main retail corridor of Rockville and Montgomery County, MD.

The subject property is located at a signalized intersection on the renowned MD 355 and has a daily traffic count of nearly 60,000 vehicles per day. The population in a 5-mile radius is over 325,000 and average household income in a 5-mile radius is $150,000. Interstate I-270 is 1.5 miles from the site, with over 250,000 vehicles per day.