Office
800 Tully Rd
800 Tully Rd, Houston, TX 77079
Listing Price: $1,795,000
Investment Overview
800 Tully Road is a ±16,571 SF, two-story multi-tenant office building on a ±0.46-acre (±20,038 SF) urban infill parcel in Houston's Katy Freeway West submarket. Built of steel in 1984 with a single passenger elevator and efficient ±8,725 SF floor plates, the Class B building offers controlled access, air conditioning served by four Trane rooftop units, and ±54 parking spaces, 21 on-site and 33 leased from an adjacent garage (16 covered, 17 uncovered) under a long-term lease. It sits directly behind Stratford High School, less than a mile south of Interstate 10 (the Katy Freeway) and minutes from the CityCentre and Memorial City districts and the Energy Corridor — a premier employment center of ~71,000 jobs and major energy tenants (bp, Shell, ConocoPhillips, Citgo). The site lies outside the 100-year Special Flood Hazard Area (mapped in the 500-year floodplain), so flood insurance is not federally mandated.
The investment thesis is lease-up. The building is less than 10% leased today — five small tenant leases, several of them single offices — leaving more than 90% vacant. In-place rents sit below the Katy Freeway West submarket's $24.53/SF average asking rent, so a buyer can create value on two fronts: leasing the vacant majority of the building, and marking the below-market space to market as leases roll — underwritten against a low, defensible basis in a high-barrier infill location. The asset suits either a value-add investor pursuing occupancy and rent growth, or an owner-user who can occupy the space it needs and lease the balance.
Submarket Overview
800 Tully Road sits in Katy Freeway West, along I-10 between Beltway 8 and the Energy Corridor — an established West Houston corridor bordered by the affluent Memorial Villages, which supply both an executive workforce and a deep base of small professional-services tenants.
The property anchors a dense, affluent, growing trade area. Within two miles, average household income is $126,409, 58% of adults hold a bachelor's degree or higher, and more than 5,500 households earn over $200,000; within three miles there are ~145,600 residents and 78,458 daytime employees, with ~7% projected population growth through 2030.
Access is strong — less than a mile south of I-10, with both Hobby and George Bush Intercontinental airports within a 40-minute drive. Corridor demand is anchored by the energy sector and diversified by professional-services, engineering, and medical users, and West Houston is drawing fresh capital — including OHT Partners' ~360-unit multifamily project and Midway's mixed-use development — tightening the supply of well-located small-tenant space.
800 Tully Rd
Investment Highlights
- Substantial Lease-Up Runway. The building is <10% leased. Leasing toward the submarket's ~77% occupancy is the single largest value lever and the core of the business plan.
- Below-Market In-Place Rents. In-place base rent averages ~$11.41/SF (top lease $23/SF) against the $24.53/SF Katy Freeway West asking rent, leaving room to mark rents up as existing leases roll.
- Basis Well Below Replacement. Entering the market at $108/SF, the property sits far below new-construction cost — a low, defensible entry point in a repricing office market.
- Irreplaceable Location. Urban infill behind Stratford High School, under a mile south of I-10 and minutes from CityCentre, Memorial City, and the Energy Corridor — access and visibility that are difficult to replicate.
- Owner-User Ready. Full-building availability and flexible ±198–4,485 SF suites make this an ideal owner-user play — occupy one suite, lease the rest, and finance with as little as 10% down via SBA 504/7(a).
- Major Systems Addressed. Three of the four rooftop Trane HVAC units have been replaced, reducing near-term capital exposure and focusing value-add spend on cosmetic and common-area upgrades.
- Flood & Zoning Advantages. In the 500-year floodplain (no mandatory flood insurance) and with no municipal zoning, the asset offers flexibility on tenant mix and use — while nearby multifamily and mixed-use investment supports long-term land value.
Exclusively Listed By
Financing By
Listing Price: $1,795,000
Investment Highlights
- Substantial Lease-Up Runway. The building is <10% leased. Leasing toward the submarket's ~77% occupancy is the single largest value lever and the core of the business plan.
- Below-Market In-Place Rents. In-place base rent averages ~$11.41/SF (top lease $23/SF) against the $24.53/SF Katy Freeway West asking rent, leaving room to mark rents up as existing leases roll.
- Basis Well Below Replacement. Entering the market at $108/SF, the property sits far below new-construction cost — a low, defensible entry point in a repricing office market.
- Irreplaceable Location. Urban infill behind Stratford High School, under a mile south of I-10 and minutes from CityCentre, Memorial City, and the Energy Corridor — access and visibility that are difficult to replicate.
- Owner-User Ready. Full-building availability and flexible ±198–4,485 SF suites make this an ideal owner-user play — occupy one suite, lease the rest, and finance with as little as 10% down via SBA 504/7(a).
- Major Systems Addressed. Three of the four rooftop Trane HVAC units have been replaced, reducing near-term capital exposure and focusing value-add spend on cosmetic and common-area upgrades.
- Flood & Zoning Advantages. In the 500-year floodplain (no mandatory flood insurance) and with no municipal zoning, the asset offers flexibility on tenant mix and use — while nearby multifamily and mixed-use investment supports long-term land value.
Investment Overview
800 Tully Road is a ±16,571 SF, two-story multi-tenant office building on a ±0.46-acre (±20,038 SF) urban infill parcel in Houston's Katy Freeway West submarket. Built of steel in 1984 with a single passenger elevator and efficient ±8,725 SF floor plates, the Class B building offers controlled access, air conditioning served by four Trane rooftop units, and ±54 parking spaces, 21 on-site and 33 leased from an adjacent garage (16 covered, 17 uncovered) under a long-term lease. It sits directly behind Stratford High School, less than a mile south of Interstate 10 (the Katy Freeway) and minutes from the CityCentre and Memorial City districts and the Energy Corridor — a premier employment center of ~71,000 jobs and major energy tenants (bp, Shell, ConocoPhillips, Citgo). The site lies outside the 100-year Special Flood Hazard Area (mapped in the 500-year floodplain), so flood insurance is not federally mandated. The investment thesis is lease-up. The building is less than 10% leased today — five small tenant leases, several of them single offices — leaving more than 90% vacant. In-place rents sit below the Katy Freeway West submarket's $24.53/SF average asking rent, so a buyer can create value on two fronts: leasing the vacant majority of the building, and marking the below-market space to market as leases roll — underwritten against a low, defensible basis in a high-barrier infill location. The asset suits either a value-add investor pursuing occupancy and rent growth, or an owner-user who can occupy the space it needs and lease the balance. Submarket Overview 800 Tully Road sits in Katy Freeway West, along I-10 between Beltway 8 and the Energy Corridor — an established West Houston corridor bordered by the affluent Memorial Villages, which supply both an executive workforce and a deep base of small professional-services tenants. The property anchors a dense, affluent, growing trade area. Within two miles, average household income is $126,409, 58% of adults hold a bachelor's degree or higher, and more than 5,500 households earn over $200,000; within three miles there are ~145,600 residents and 78,458 daytime employees, with ~7% projected population growth through 2030. Access is strong — less than a mile south of I-10, with both Hobby and George Bush Intercontinental airports within a 40-minute drive. Corridor demand is anchored by the energy sector and diversified by professional-services, engineering, and medical users, and West Houston is drawing fresh capital — including OHT Partners' ~360-unit multifamily project and Midway's mixed-use development — tightening the supply of well-located small-tenant space.
Exclusively Listed By
Financing By
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