Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale McKay Medical Office Building, located at 19411 McKay Drive in Humble, Texas. McKay Medical Office Building is situated across from the 255-bed Memorial Hermann Northeast Hospital campus, which is the most prominent medical thoroughfare in this submarket. This 21,169-square-foot building on two-and-one-half acres was built in 2003 and is for sale for $3,700,000, which is $175 per square foot. Offered at a below-replacement cost price point, the subject property is an excellent owner-user opportunity. A Buyer may have immediate control of Suites 100, 150A, and 250, totaling 8,739 square feet of leasable area upon closing. The remaining leasable area may become available in 2026, or 2031 depending on if tenants execute their renewal options. An owner-user will benefit from owning its own real estate needs, as well as having rental income from other tenants to offset operating expenses and any mortgage payments. Owner User Occupancy Overview: Currently, the property has 2,225 square feet of vacancies. Despite this, a buyer may occupy up to 8,739 square feet. Seller occupies Suite 100, which is 3,465 square feet. Seller can vacate this unit with a few months of closing to allow a buyer to utilize this space. In addition, Landlord can remove the tenant from Suite 250 (3,049 square feet) because the lease allows for landlord to take control of the space after a 30 day notice to the tenant. The possible occupancy combinations on the first floor are: 2,225 square feet (Suite 150A), 3,465 square feet (Suite 100), or both units, totaling 5,690 square feet on the first floor. On the second floor, landlord can terminate the lease with the tenant in Suite 250, so that a buyer can occupy 3,049 square feet on this floor. Third third floor is fully occupied through March 31, 2026 with a tenant’s renewal option through March 31, 2031.