El Muelle - Houston, TX

SHOP Companies is pleased to offer the opportunity for qualified investors to acquire a ground-leased investment located in Houston, Texas. The 1.31-acre parcel is 100% leased to El Muelle, a high-end, locally renowned sushi and bar concept with two existing high-performing Houston-area locations. This new flagship restaurant of the highly successful and loved chain marks the tenant’s third location, situated in a prominent, dense area known for its quality and strong brand recognition. The tenant recently completed a $2.4 million renovation and expansion of the building and operates under an Absolute NNN Ground Lease, which carries zero landlord responsibilities and approximately nine (9) years remaining on the primary term.

Strategically located along Interstate 69/Southwest Freeway, which sees over 239,000 vehicles per day, the property benefits from exceptional visibility, accessibility, and dense surrounding demographics. The immediate submarket is one of the most densely populated areas in the United States, with over 45,000 residents within a 1-mile radius and over 243,000 within 3 miles. The unique El Muelle sushi and seafood is a local sensation and top dining destination for the surrounding community and highway commuters. The lease features 2% annual rental increases and a personal guaranty from the 3-unit operator. The current rent is below market for this brand-new restaurant, due to the property’s high-traffic location and robust surrounding population. The large 1.31-acre parcel also serves as a substantial long-term land bank, offering flexibility for future investment opportunities through a possible lot split or redevelopment in the heart of the city.