Listing Summary
Single-Tenant Chevron C-Store & Gas Station | 2% Annual Increases | Fee Simple Investment in Greater Houston
Full Description
Prime Single-Tenant Retail Investment Opportunity: Chevron – Pasadena, TX
Presenting a premier net-lease investment opportunity in Pasadena, Texas—a high-growth submarket within the vibrant Houston Metropolitan Area. Offered at $7,285,000, this highly desirable single-tenant commercial property features a 3,745-square-foot retail store situated on a 0.46-acre lot at 602 S Main St, Pasadena, TX 77506.
Operating under a brand-name Chevron service station and convenience store format, the asset offers an exceptional Absolute NNN lease with 19 years remaining on the primary term and zero landlord operational responsibilities. The investment benefits from 2% annual rental increases extending throughout both the primary term and option periods, providing investors with a continuous compound yield and an excellent hedge against inflation. Featuring fee simple ownership (land and building), this turnkey asset qualifies for accelerated depreciation benefits, making it an ideal acquisition for high-net-worth individual investors, institutional buyers, and 1031 exchange participants.
Key Financial & Property Specifications
| Property & Financial Metric |
Details |
| Property Name / Tenant |
Chevron |
| Street Address |
602 S Main St, Pasadena, TX 77506 |
| Market / Region |
Houston–The Woodlands–Sugar Land MSA |
| Offering Price |
$7,285,000 |
| Building Size (Sq. Ft.) |
3,745 SF |
| Lot Size (Acreage) |
0.46 Acres |
| Ownership Interest |
Fee Simple (Land & Building) |
| Property Type |
Single-Tenant Retail / Gas Station & Convenience Store |
| Lease Structure |
Absolute NNN (Zero Landlord Responsibilities) |
| Primary Lease Term Remaining |
19 Years |
| Rental Escalations |
2% Annual Increases (Primary Term & Options) |
Core Investment Highlights
Long-Term Guaranteed Passive Cash Flow
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19-Year Primary Lease Term: Secure, long-term cash flow with nearly two decades of committed primary lease term remaining.
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Absolute NNN Structure: Complete hands-off management with zero landlord obligations for repairs, maintenance, roof, structure, or taxes.
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Compounding Rental Growth: Built-in 2% annual rent escalation throughout the base term and renewal option periods, offering growing income and inflation protection.
Tax Advantages & Ownership Structure
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Fee Simple Ownership: Includes full ownership of both the land and the building structures.
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Potential Depreciation Benefits: Gas stations and convenience store properties often qualify for bonus depreciation or accelerated cost recovery strategies (consult your tax advisor).
Strategic Location in Greater Houston Submarket
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High-Density Corridor: Located on S Main St in Pasadena, TX, enjoying steady daily commuter traffic and high neighborhood accessibility.
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Infill Houston MSA Location: Pasadena is one of the key industrial and commercial hubs of the Houston metropolitan region, benefiting from strong local economic drivers, maritime industry ties, and heavy residential surrounding density.
Asset Summary
This Chevron asset at 602 S Main St represents an elite combination of brand strength, long-term stability, and inflation-protected cash flow. With 19 years remaining on an Absolute NNN lease, fee simple ownership, and steady 2% annual compounding rent growth, this property stands as a top-tier core real estate investment in the expanding Texas market.
Quick Glance
- Listing ID:
CL-Texas-28238
- Status:
Active
- Year Build:
N/A
- Building Size:
3,745 SqFt
- Lot Size:
0.46 Acr
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