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Office

Woodlands Professional Building

3000 Research Forest Dr, The Woodlands, TX 77381

Listing Price: $8,900,000

Cap Rate
7.24%
Gross SF
25,625
Rentable SF
25,625
Price/Gross SF
$347.32
Lot Size
2.71 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to exclusively list 3000 Research Forest Drive, a 25,625 square foot Class A office building located in The Woodlands, Texas. 3000 Research Forest Drive was built in 2006 and lies upon 2.71 acres, located within the Research Forest Park micro-market. The property is located at the hard-corner signalized intersection of Research Forest Drive and New Trails Drive. The building is in close proximity to notable corporations such as Fox Network, Kiewit Energy, Lexicon Pharmaceuticals, Huntsman and Amegy Bank, whose presence draws traffic and leasing demand. The property attracts strong tenants due to the immensely high Average Household Income of $182,940 within one mile of the subject property. The investment property is available at a 7.24 percent CAP rate, 10.45 percent cash-on-cash, and 17.83 percent total return at 98.12 percent occupancy, while enjoying the stability of national and regional tenants on long-term leases in a high-income demographic submarket. There are high barriers to entry on Research Forest Drive in The Woodlands, due to strict zoning and limited available land for future developments, which results in less competition. For this reason, high quality tenants like Starbucks, Texas American Title, Texas First Bank, Abundant Chiropractic, and Liberty Mutual have remained tenants at this location for over ten years.

Investment Highlights

  • Starbucks is Highly-Trafficked Store
  • Abundant Chiropractic Renewed Early at Higher Rental Rate
  • Class A Office Building
  • High Barrier to Entry Submarket
  • $182,940 Average Household Income Within One Mile
  • Strong Mix of National and Regional Tenants
  • Long Term Historical Occupancy
  • Starbucks Significantly Renovated Tenant's Buildout in 2020 and 2021

Exclusively Listed By

Listing Price: $8,900,000

Cap Rate
7.24%
Gross SF
25,625
Rentable SF
25,625
Price/Gross SF
$347.32
Lot Size
2.71 acres
Year Built
2006

Investment Highlights

  • Starbucks is Highly-Trafficked Store
  • Abundant Chiropractic Renewed Early at Higher Rental Rate
  • Class A Office Building
  • High Barrier to Entry Submarket
  • $182,940 Average Household Income Within One Mile
  • Strong Mix of National and Regional Tenants
  • Long Term Historical Occupancy
  • Starbucks Significantly Renovated Tenant's Buildout in 2020 and 2021

Investment Overview

Marcus & Millichap is pleased to exclusively list 3000 Research Forest Drive, a 25,625 square foot Class A office building located in The Woodlands, Texas. 3000 Research Forest Drive was built in 2006 and lies upon 2.71 acres, located within the Research Forest Park micro-market. The property is located at the hard-corner signalized intersection of Research Forest Drive and New Trails Drive. The building is in close proximity to notable corporations such as Fox Network, Kiewit Energy, Lexicon Pharmaceuticals, Huntsman and Amegy Bank, whose presence draws traffic and leasing demand. The property attracts strong tenants due to the immensely high Average Household Income of $182,940 within one mile of the subject property. The investment property is available at a 7.24 percent CAP rate, 10.45 percent cash-on-cash, and 17.83 percent total return at 98.12 percent occupancy, while enjoying the stability of national and regional tenants on long-term leases in a high-income demographic submarket. There are high barriers to entry on Research Forest Drive in The Woodlands, due to strict zoning and limited available land for future developments, which results in less competition. For this reason, high quality tenants like Starbucks, Texas American Title, Texas First Bank, Abundant Chiropractic, and Liberty Mutual have remained tenants at this location for over ten years.

Exclusively Listed By

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