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1011 McGowen St, Houston, TX, 77002

Red Cat Jazz Cafe

$1,466,000

Key Information

Cap Rate
9%
$ per SF
$659
Tot. SF
2,224
Lot Size
0.06 Acres
Year Built
2012
Term Remaining
± 4.25 Years
Type
Retail
Occupancy
100%
NOI
$132,000

Highlights

• New Lease – With the lease commencing in February 2026, a buyer can benefit from over four years of remaining contractual cash flow.
• 22% Rental Increase – The lease features a significant 22% rental increase from Year Two to Year Three, providing substantial near-term income growth.
• 9% Cap Rate – At a 9% cap rate, the property offers an attractive yield for a single-tenant investment in Houston’s Midtown market.
• Long Operating History – The tenant has been in business since 2000, demonstrating more than two decades of established operations.
• Tenant Relocation – After operating at its previous location for approximately two decades, the tenant relocated to the subject property, demonstrating a commitment to its new location.
• Abs. NNN Lease – The property features a triple-net lease structure, providing a passive investment with limited landlord responsibilities.
• Great Location – Strategically located in Midtown Houston, the property benefits from proximity to Downtown Houston and surrounding employment, residential, retail, and entertainment destinations.
• Nearby Parking – Convenient paid parking options are available nearby, providing additional accessibility for customers and visitors.

Photos

Location

Agents

Broker of Record

Patrick Graham

License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204