Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a 45,083 square feet Unoccupied Behavioral Health Hospital, located at 11500 Space Center Boulevard in Houston, Texas. The building was initially built in 2008 as a steakhouse and event center, which was then converted into a behavioral health facility in 2015-2016 and has recently been renovated in 2020 and 2021. The building has two phases with varying completion status. Phase One is ready for operation, assuming proper permitting and licensing of an operator. It houses ten rooms with twenty beds, medical evaluation rooms, conference rooms, nurse station, offices, commercial kitchen, dining facilities, outdoor and indoor common areas, and other essential rooms needed to operate a behavioral health facility. Phase Two is incomplete, with all drawings and plans completed and buildout started, but approximately an additional two million dollars of improvements are needed to finish the addition. The facility’s location, buildout, layout, and infrastructure make it a candidate to be converted into a variety of medical uses aside from behavioral health services. The offering is located in Clear Lake City and is in close proximity to many submarkets including, South Houston, Pasadena, Deer Park, La Porte, Webster, Seabrook, and Friendswood. It is located within the Village at Clear Point Crossing development, a medical office park with major operators such as UT Physicians, Memorial Hermann, Quest Diagnostics, Bayshore Pediatrics, Retna Consultants of Houston, Bailey Orthodontics, Clearpoint Dentistry, Houston ENT Clinic, and more. The property is located within a Commercial Owner’s Association, which, according to the landlord, is administrative, without annual fees due.