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Office

363 North Belt

363 N Sam Houston Pkwy E, Houston, TX 77060

Listing Price: $28,975,000

Cap Rate
3.77%
Rentable SF
386,277
Lot Size
3.79 acres
Year Built
1982

Investment Overview

Marcus & Millichap, as exclusive advisor to the owner of 363 North Sam Houston Parkway E aka 363 North Belt, is pleased to present the value-add opportunity to acquire the fee-simple interest in the Property, a 386,277 rentable square foot, Class A office tower and connecting structured parking strategically located in the heart of the North Houston District. The building features a glass façade with a 1182 space, 7-level precast concrete parking garage. The improvements were completed in 1982 and the office building has had significant office renovations and upgrades estimated at over $8 million in the last fifteen years. Such renovations including installing building sprinklers, elevators modernization, cooling towers replacement, main lobby renovations, a new fitness center, main bus riser replacement and deli modernization. This is a “must see to appreciate” opportunity. 363 North Belt is strategically located at the crossroads of Houston’s North Houston District just east of I-45 North and the North Sam Houston Parkway aka the North Belt interchange, offering easy access to Houston-George Bush Intercontinental Airport, just 10 minutes away as well as The Woodlands, Kingwood, Atascocita, Galleria/Uptown as well as all parts of the Houston MSA. Major employers in the area include a list of who’s who. Amazon, Sysco, Nabors Drilling, Red Bull, The Reynolds Company and Schlumberger. In summary, 363 North Belt is one of the few office gems in the area. In order to continue to attract tenants, ownership has invested significant capital improvements over the years to maintain its stellar appearance. In 2017 the building was awarded LEED Certification at the Gold Level by the U.S. Green Building Council.

Investment Highlights

  • VALUE-ADD OPPORTUNITY AT 39.2% OCCUPANCY
  • DIVERSIFIED TENANT BASE
  • EXCELLENT INGRESS AND EGRESS
  • EXTENSIVE CAPITAL IMPROVEMENT HISTORY ($8 MM ESTIMATED)
  • EFFICIENT FLOOR PLATES FOR TENANTS
  • FREEWAY VISIBILITY

Exclusively Listed By

Financing By

Listing Price: $28,975,000

Cap Rate
3.77%
Rentable SF
386,277
Lot Size
3.79 acres
Year Built
1982

Investment Highlights

  • VALUE-ADD OPPORTUNITY AT 39.2% OCCUPANCY
  • DIVERSIFIED TENANT BASE
  • EXCELLENT INGRESS AND EGRESS
  • EXTENSIVE CAPITAL IMPROVEMENT HISTORY ($8 MM ESTIMATED)
  • EFFICIENT FLOOR PLATES FOR TENANTS
  • FREEWAY VISIBILITY

Investment Overview

Marcus & Millichap, as exclusive advisor to the owner of 363 North Sam Houston Parkway E aka 363 North Belt, is pleased to present the value-add opportunity to acquire the fee-simple interest in the Property, a 386,277 rentable square foot, Class A office tower and connecting structured parking strategically located in the heart of the North Houston District. The building features a glass façade with a 1182 space, 7-level precast concrete parking garage. The improvements were completed in 1982 and the office building has had significant office renovations and upgrades estimated at over $8 million in the last fifteen years. Such renovations including installing building sprinklers, elevators modernization, cooling towers replacement, main lobby renovations, a new fitness center, main bus riser replacement and deli modernization. This is a “must see to appreciate” opportunity. 363 North Belt is strategically located at the crossroads of Houston’s North Houston District just east of I-45 North and the North Sam Houston Parkway aka the North Belt interchange, offering easy access to Houston-George Bush Intercontinental Airport, just 10 minutes away as well as The Woodlands, Kingwood, Atascocita, Galleria/Uptown as well as all parts of the Houston MSA. Major employers in the area include a list of who’s who. Amazon, Sysco, Nabors Drilling, Red Bull, The Reynolds Company and Schlumberger. In summary, 363 North Belt is one of the few office gems in the area. In order to continue to attract tenants, ownership has invested significant capital improvements over the years to maintain its stellar appearance. In 2017 the building was awarded LEED Certification at the Gold Level by the U.S. Green Building Council.

Exclusively Listed By

Financing By

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