Office

Energy Corridor Offices & 4.5 Acres

14511 Old Katy Rd, Houston, TX 77079

Listing Price: $16,750,000

Cap Rate
4.15%
Gross SF
62,643
Rentable SF
62,643
Price/Gross SF
$267.39
Lot Size
8.27 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Energy Corridor Offices & 4.5 Acres, located at 14511-14521 Old Katy Road in Houston, Texas. The offering is located in the heart of the Energy Corridor at the Northeast corner of the Interstate 10 and Highway 6 intersection. The Property consists of two office buildings totaling 62,643 square feet of gross leasable area and 8.27 acres of land, of which, 4.5168 acres remains undeveloped. The undeveloped tract of land has direct visibility off of Interstate 10 (256,291 Vehicles Per Day), as well as easy access off Interstate 10 and Highway 6. The total offering is available for purchase for $16,750,000, which is based on a valuation of the undeveloped land at $35 per square foot ($6,886,320) and an 8.35 percent CAP rate valuation for the office buildings located at 14521 Old Katy Road and 14511 Old Katy Road ($9,863,680). Undeveloped land and office buildings may be available for purchase separately. Best uses for the 4.5168 acres include: office, medical, and multi-family. Comparable land in the Energy Corridor off of Interstate 10 is currently valued between $35 to $45 per square foot. The office buildings are currently 83 percent occupied. An investor may attain an unlevered return of 8.35 percent immediately and work towards leasing the buildings closer to 100 percent occupancy for a 10.5 percent to 11 percent proforma CAP rate.

Investment Highlights

  • 8.27 Acres at Irreplaceable Location in Heart of Energy Corridor (Interstate 10 & Highway 6 Intersection)
  • 4.5168 Acres of Undeveloped Land Priced at $35 Per SF
  • Visibility from Interstate 10 (256,291 Vehicles Per Day)
  • Easy Access Off Highway 6 and Interstate 10
  • Beautiful Boutique Office Buildings Priced at a 8.35% CAP Rate on Actuals
  • Upside on Office Buildings by Leasing up 17% of Vacancies
  • Diverse Tenant Base Including: Mitsubishi, Columbia Sportswear and Tenants from Industries Including: Shipping, Legal Services, A/C & Heating, Medical, Financial Services, Geotechnical, and More
  • Next to Addicks Park & Ride METRO

Exclusively Listed By

Office

Energy Corridor Offices & 4.5 Acres

Listing Price: $16,750,000

Cap Rate
4.15%
Gross SF
62,643
Rentable SF
62,643
Price/Gross SF
$267.39
Lot Size
8.27 acres
Year Built
2005

Investment Highlights

  • 8.27 Acres at Irreplaceable Location in Heart of Energy Corridor (Interstate 10 & Highway 6 Intersection)
  • 4.5168 Acres of Undeveloped Land Priced at $35 Per SF
  • Visibility from Interstate 10 (256,291 Vehicles Per Day)
  • Easy Access Off Highway 6 and Interstate 10
  • Beautiful Boutique Office Buildings Priced at a 8.35% CAP Rate on Actuals
  • Upside on Office Buildings by Leasing up 17% of Vacancies
  • Diverse Tenant Base Including: Mitsubishi, Columbia Sportswear and Tenants from Industries Including: Shipping, Legal Services, A/C & Heating, Medical, Financial Services, Geotechnical, and More
  • Next to Addicks Park & Ride METRO

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Energy Corridor Offices & 4.5 Acres, located at 14511-14521 Old Katy Road in Houston, Texas. The offering is located in the heart of the Energy Corridor at the Northeast corner of the Interstate 10 and Highway 6 intersection. The Property consists of two office buildings totaling 62,643 square feet of gross leasable area and 8.27 acres of land, of which, 4.5168 acres remains undeveloped. The undeveloped tract of land has direct visibility off of Interstate 10 (256,291 Vehicles Per Day), as well as easy access off Interstate 10 and Highway 6. The total offering is available for purchase for $16,750,000, which is based on a valuation of the undeveloped land at $35 per square foot ($6,886,320) and an 8.35 percent CAP rate valuation for the office buildings located at 14521 Old Katy Road and 14511 Old Katy Road ($9,863,680). Undeveloped land and office buildings may be available for purchase separately. Best uses for the 4.5168 acres include: office, medical, and multi-family. Comparable land in the Energy Corridor off of Interstate 10 is currently valued between $35 to $45 per square foot. The office buildings are currently 83 percent occupied. An investor may attain an unlevered return of 8.35 percent immediately and work towards leasing the buildings closer to 100 percent occupancy for a 10.5 percent to 11 percent proforma CAP rate.

Exclusively Listed By

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