Investment — True NNN Lease

Pure Soccer — 27317 Spectrum Way

27317 Spectrum Way, Oak Ridge North, TX 77385 · 2 miles from The Woodlands Mall

$5,850,000

Asking Price

7.11%

In-Place Cap

7.61%

Blended Cap

30,075 SF

Building

~7.1 Yrs

Remaining

2.63 AC

Land

Property Overview

Single-tenant commercial building at 27317 Spectrum Way, Oak Ridge North, TX — approximately 2 miles from The Woodlands Mall, Montgomery County
30,075 SF facility on 2.63 acres · currently occupied by Pure Soccer, an indoor soccer facility
True NNN lease · commenced February 10, 2023 · expires March 31, 2033 · ~7 years remaining
Annual rent escalations support a blended cap rate of 7.6% over the term
Strong I-45 proximity · security deposit · personal guaranties from tenant principals
Executed lease, rent schedule, tenant ledger, and site map available — request data room access

Pablo Uriegas

Pablo's Take

"The math does the talking here. Clean NNN structure, contractual rent growth, and two layers of downside protection you don't often see at this price point. This is a passive income play that holds up under scrutiny."

7.11% → 7.61% In-place cap blending over term

$238K Security deposit still unapplied

14.3% Total rent growth to lease end

Month 31 Clean payment history, no surprises

Est. 20–30% Rent positioned below market at lease end — meaningful upside

Multi-site Tenant operates multiple locations

Investment Highlights

7.6% blended cap rate over the remaining lease term, supported by contractual rent escalations
Below-market rent potential at expiration
True NNN structure that minimizes landlord expense exposure
Strong security package (deposit + personal guaranty) supported by a clean 31-month payment history
Contractual annual rent increases in place through lease end
Durable youth sports demand — locally driven and less discretionary than many retail concepts
Multiple exit paths at expiration: renew, re-tenant, or reset value based on higher market rent

Underwriting Considerations

Single-tenant risk: Vacancy would result in no rental income.

Partially mitigated by a strong security deposit and guaranty support.

Specialized build-out: The improvements are not a "vanilla box."

Offset by potential multi-use adaptability and/or solid demand for indoor sports facilities in the submarket.

Tenant performance variability: Operating performance remains a key variable.

Supported by a clean 31-month payment history, a strong security deposit, a personal guaranty, and the tenant's multiple operating locations.

"The underwriting here is straightforward: single-tenant NNN income with contractual growth, supported by a real security package. For buyers targeting yield in the $5–6M range, this is a clean structure with tangible downside buffers and clear exit paths."

Who Is This For?

Primary: NNN investor seeking passive income with contractual rent growth in the $5–6M range. Values a clean lease structure, 7%+ cap rate, and security deposit protection over chasing sub-5 caps in gateway markets.

Secondary: 1031 exchange buyer on a timeline needing a stabilized, income-producing asset with clear documentation. The lease package is organized in the data room — this can move fast.

Also consider if: You're building a Houston suburban NNN portfolio and want exposure to the recreational/youth sports sector — resilient, locally demanded, and not easily replicated.

Pure Soccer — 27317 Spectrum Way

Property Overview

Data Room