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Warehouse

27493 Hanna Rd

27493 Hanna Rd, Conroe, TX 77385

Listing Price: $1,500,000

Cap Rate
8.46%
Gross SF
18,800
Price/Gross SF
$79.79
Lot Size
1.39 acres
Year Built
1983
Rentable SF
18,800

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 27493 Hanna Road in Conroe, Texas. The subject property consists of approximately 19,000 square feet of space and is situated on 1.39 acres of land. The income producing asset features staggered triple-net leases with long-term historical occupancy. Investors concerned about the current economic environment can take advantage of the multi-tenant warehouse as a safe investment. The propertys quick on-market time frames create a value-add opportunity for investors to lease-up current vacant spaces. With close proximity to Interstate 45, the asset has a convenient location. As the surrounding suburban population continues to grow, demand for industrial space is expected to follow suit. Situated within the Woodlands/Conroe submarket, the property has future potential as the submarket contains one of the fastest growing areas in the Houston Metro area.

At $9.28 per square foot, the Woodlands/Conroe submarket has an average market rent commensurate with the overall Houston market. Oil and gas related manufacturing tenants occupy several large blocks of industrial space in the area. The submarket is also home to a number of large distribution-related tenants including Five Below (860,000 square feet), National Oilwell Varco (715,000 square feet), and Crown Cork & Seal Co. (700,000 square feet). By the end of 2021, American Furniture Warehouse is expected to become the largest industrial tenant in the submarket when it moves into an 886,000 square foot space (CoStar). These large tenants have a significant impact on local industrial real estate and provide investors the opportunity to leverage their properties to service one of the fastest growing suburban areas in the country.

As the fifth most populous metro area in the U.S., Houston houses nearly 6.9 million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houstons economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houstons population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.

Investment Highlights

  • Property Is Conveniently Located In Close Proximity to Highway 45
  • This Submarket Contains One of the Fastest Growing Areas in the Houston Metro
  • Triple Net Property, Staggered Leases, Long Term Historical Occupancy
  • Multi-Tenant Warehouse Allows A Safe Investment For Investors

Exclusively Listed By

Listing Price: $1,500,000

Cap Rate
8.46%
Gross SF
18,800
Price/Gross SF
$79.79
Lot Size
1.39 acres
Year Built
1983
Rentable SF
18,800

Investment Highlights

  • Property Is Conveniently Located In Close Proximity to Highway 45
  • This Submarket Contains One of the Fastest Growing Areas in the Houston Metro
  • Triple Net Property, Staggered Leases, Long Term Historical Occupancy
  • Multi-Tenant Warehouse Allows A Safe Investment For Investors

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 27493 Hanna Road in Conroe, Texas. The subject property consists of approximately 19,000 square feet of space and is situated on 1.39 acres of land. The income producing asset features staggered triple-net leases with long-term historical occupancy. Investors concerned about the current economic environment can take advantage of the multi-tenant warehouse as a safe investment. The propertys quick on-market time frames create a value-add opportunity for investors to lease-up current vacant spaces. With close proximity to Interstate 45, the asset has a convenient location. As the surrounding suburban population continues to grow, demand for industrial space is expected to follow suit. Situated within the Woodlands/Conroe submarket, the property has future potential as the submarket contains one of the fastest growing areas in the Houston Metro area.

At $9.28 per square foot, the Woodlands/Conroe submarket has an average market rent commensurate with the overall Houston market. Oil and gas related manufacturing tenants occupy several large blocks of industrial space in the area. The submarket is also home to a number of large distribution-related tenants including Five Below (860,000 square feet), National Oilwell Varco (715,000 square feet), and Crown Cork & Seal Co. (700,000 square feet). By the end of 2021, American Furniture Warehouse is expected to become the largest industrial tenant in the submarket when it moves into an 886,000 square foot space (CoStar). These large tenants have a significant impact on local industrial real estate and provide investors the opportunity to leverage their properties to service one of the fastest growing suburban areas in the country.

As the fifth most populous metro area in the U.S., Houston houses nearly 6.9 million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houstons economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houstons population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.

Exclusively Listed By

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