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Lease
Lease type—
Term remaining8.9 yrs
Expiration06/2035
Rent bumps10% Increase in Year 6 and in Renewal Options
OptionsFour, 5-Year Options
Ground leaseYes
Credit profile—
TenancySingle
Planning a 1031 Exchange
Give us your relinquished sale close date and we will calculate your 45-day
identification and 180-day closing deadlines, track the clock, and surface matching
inventory before it expires. We coordinate directly with your Qualified Intermediary
and can introduce one if you have not yet engaged an exchange accommodator.
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Property
Building SF5,136
Price / SF$528
Year built2025
Lot size1.37 ac
TypeRestaurant
Days on market34
Need year-one bonus depreciation
Building age, size and improvement mix drive how much of this asset a cost
segregation study can accelerate into year one. Tell us your tax year and entity
and we will model the deduction.
Investment highlights
Brand New 10-Year NNN Ground Lease: Commenced June 2025, Chili's NNN ground lease features ±9.0 years of term with a 10% rent increase in year 6 and in each of the four, 5-year renewal options. Chili's Grill & Bar is a brand-new construction that opened for business on June 12, 2025.
Excellent Access & Visibility Along I-45: Located approximately 50 miles north of downtown Houston, the property has excellent access and visibility along North Freeway Service Road, just feet from its intersection with FM 1097 (26,219 VPD) and the on-ramp to Interstate 45 North (100,457 VPD), which provides direct access to both Houston and Dallas.
Within the Brand New 5.58-Acre ‘Plazas At Willis': Chili's is part of the larger 5.58-acre 'Plazas at Willis' mixed-use development currently under construction. Other featured tenants in the center include Chipotle Mexican Grill, LightPoint Engineering, LLC and a future outpad user.
Strategic Location | Surrounded by Retail Powerhouses: Chili's is immediately surrounded by several retail powerhouses, including Willis Town Center (79,340 SF), Sam Houston Town Center (238,344 SF), and The Market at Willis (200,000+ SF)—a new retail development that is well underway. Together, these developments feature tenants like Kroger Marketplace, H-E-B, Ross, Burlington, Tractor Supply, Goodwill, Five Below, Walgreens, First Watch, Schlotzsky’s, McAlister’s Deli, Willis Urgent Care, Whataburger, Panda Express, Little Caesars Pizza, Dutch Brothers Coffee, MOD Pizza, WingStop, Chase Bank and T-Mobile, to name a few. According to Placer.ai, the developments have welcomed more than 1.1M visitors across 8.1M visits over the past 12 months.
Property overview
The CBRE Net Lease Property Group is pleased to offer for sale the ±9.0-year NNN Chili's Grill & Bar ground lease situated on 1.37 acres in Willis, Texas—part of the broader Houston-Pasadena- The Woodlands, TX MSA (Population: 7.62M+). Commenced in June 2025, the 5,136-square-foot Chili's features a 10% rent increase in year 6 and in each of the four, 5-year renewal options.
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Asking-market observation aggregated from public listing sources, last
observed Sep 18, 2026.
Figures are asking price and asking cap rate as published by the listing party, not a
verified closed transaction. Lease terms shown where reported by the listing party and
not independently verified. Shown for market reference only; this is not an offering.
Investment Grade Income Property, LP represents buyers on a cooperating commission basis.