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Asking Price
NOI Net Operating Income
Cap Rate

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Property Description

JLL is pleased to exclusively offer the opportunity to acquire a single-tenant Taco Bell in Houston, TX (the “Property”) featuring a NNN ground lease with 25 years of lease term. The investment opportunity offers a truly passive income structure with zero landlord responsibilities and rent increases of 10% every five years of the contractual lease term. Situated as an outparcel to a larger shopping center, Taco Bell sits along Barker Cyprus Road with a drive-thru lane off an intersection that sees over 40,000 vehicles per day. MAS Restaurant Group, LLC (the “Tenant”) is a strong franchisee operator that has been in business since 2000 and has a portfolio of 70 restaurants throughout the Houston area. Taco Bell is owned by Yum! Brands, Inc. (NYSE: “YUM”) rated ‘Ba2’ by Moody’s and ‘BB’ S&P, with recent ratings affirmations in 2020. The Property features a rare 25-year Taco Bell lease, with implicit credit-backing from Yum! Brands. The investment offers a rare opportunity to acquire a national QSR brand on a long-term lease, featuring great visibility and access in a growing Houston market.

Investment Highlights

  • Taco bell drive-thru on a 25 year NNN ground lease
  • Strong franchisee operator with over 70 restaurants in Houston
  • Zero landlord responsibility
  • Dense surrounding population and strong traffic exposure
  • 10% contractual increases every 5 years
  • Taco bell drive-thru's saw an increase of 30 million vehicles year-over-year in 2020
Last Updated Date: 21 Jun 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Ryan West
Ryan West
Senior Managing Director, Capital Markets
License details
TX-478560

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Last Updated Date: 21 Jun 2021

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