Investment Overview

Marcus & Millichap is pleased to present 1615 Hillendahl, an excellent redevelopment opportunity located in the Spring Branch market, one of Houston's most sought-after markets. The property sits on 4.3 acres. The building is over 124,000 square feet and was previously used as a 198-bed skilled nursing facility. The building's original prior use was a hospital. The building appears to be concrete and steel framing with brick exterior. According to Harris County Appraisal District, the building was built in 1965 with renovations completed in the early 1970's, mid to late 1980's, and 2019. According to the seller, some of the most recent capital improvements were: 1) a large percentage of the roof replaced, 2) new flooring on two floors, 3) new chiller system, 4) new PTAC units in some of the units, 5) three new elevators, 6) generator installed in 2016. The property has access to Hillendahl Boulevard, Pech Road and Waterbury Drive. The property is in Spring Branch East, which is conveniently located just outside the 610 Loop and is minutes from Downtown, Memorial Park, The Galleria, The Heights, Memorial Villages, and Memorial City Mall. The property is zoned to Spring Branch ISD, one of Houston's best rated school districts (appears to be zoned to Valley Oaks Elementary School, Landrum Middle School, and Memorial High School). It is within walking distance to St. Mark Lutheran School and Valley Oaks Elementary School. Median home values in Spring Branch is $420,000 with home sales price up to $3,000,000. This is a great opportunity for a buyer to redevelop the site, whether using the existing improvements for seniors housing or other healthcare use; or developing for luxury homes.