[Featured Listing] Panthers Petroleum | 12010 Spring Cypress Road, Tomball, TX 77377

This property is best understood as a long-term net-lease investment, not simply a gas station building. Panthers Petroleum occupies the property under an absolute NNN lease, and the current Trinity REIS marketing materials report more than 18 years remaining on the primary term. For an investor, the main appeal is the combination of a long lease, scheduled income growth and limited day-to-day landlord responsibility.

The asking price is $5,205,520. Trinity REIS reports annual NOI of $377,400 and a 7.25% cap rate, which is mathematically consistent with the asking price. The lease is also marketed with 2% annual rent increases, so the rent schedule is one of the first documents I would verify rather than relying only on the headline return.

The property includes approximately 5,384 square feet of building area on about 2.12 acres at the corner of Spring Cypress Road and North Eldridge Parkway. Marketing materials report combined traffic of more than 26,000 vehicles per day, and the aerials show a surrounding mix of retail, residential communities, apartments and schools. The exterior was substantially remodeled in 2024.

The part that needs special attention is the gas-station use. An absolute NNN lease can shift many operating obligations to the tenant, but it does not eliminate ownership risk. Before deciding, I would review the complete lease and guaranty, rent schedule, renewal options, assignment rights, financial reporting, insurance, roof and structure language, tax obligations and any landlord carve-outs.

Environmental due diligence is also essential. Buyers should independently review the Phase I report, underground storage tank records, regulatory compliance, spill or release history, remediation obligations, environmental indemnity and the insurance coverage that applies during and after the lease. The source also markets possible bonus-depreciation benefits, but tax treatment depends on the buyer and should be confirmed with a qualified tax professional.

This opportunity is more suitable for an investor seeking long-term net-lease income than for an owner-user who needs immediate occupancy. If you are comparing NNN convenience-store investments, send me your target return, financing assumptions and hold period. I can help you organize the lease, environmental and exit-risk questions before you decide whether the pricing works.