Skip to main content

Office Medical

Grand Reserve Plaza

23543 Kingsland Blvd, Katy, TX 77494

Listing Price: $4,953,000

Cap Rate
5.50%
Rentable SF
12,025
Occupancy
88.0%
Year Built
2016
Lot Size
1.34 acres

Investment Overview

The subject property is a 12,025 square foot building that is leased to three medical tenants with one vacant space remaining. The building was constructed in 2016 and is located in dynamic Katy, Texas. The property is situated just west of the Grand Parkway and south of I-10. Directly across the street are two medical office buildings, each of which is approximately 48,000 SF. A third medical office building is planned for future development. Houston Allergy & Asthma occupies 54 percent of the space while Master Endodontist occupies 17 percent of the space and a chiropractic clinic also occupies 17 percent of the space. All leases are NNN whereby real estate taxes, insurance, CAM, and management fees are reimbursed by the tenants. In addition, all tenants pay an additional admin fee of 10 to 15 percent of CAM. Surrounding demographics are strong. AHHI is approximately $130,000 within a 1-3-5 mile radius. Within a three mile radius, the population is approximately 105,000.

Investment Highlights

  • All Leases are NNN
  • AHHI $130,000 Within 1-3-5 Mile Radius
  • Located Across the Street From Two Medical Office Buildings

Exclusively Listed By

Financing By

Office Medical

Grand Reserve Plaza

Listing Price: $4,953,000

Cap Rate
5.50%
Rentable SF
12,025
Occupancy
88.0%
Year Built
2016
Lot Size
1.34 acres

Investment Highlights

  • All Leases are NNN
  • AHHI $130,000 Within 1-3-5 Mile Radius
  • Located Across the Street From Two Medical Office Buildings

Investment Overview

The subject property is a 12,025 square foot building that is leased to three medical tenants with one vacant space remaining. The building was constructed in 2016 and is located in dynamic Katy, Texas. The property is situated just west of the Grand Parkway and south of I-10. Directly across the street are two medical office buildings, each of which is approximately 48,000 SF. A third medical office building is planned for future development. Houston Allergy & Asthma occupies 54 percent of the space while Master Endodontist occupies 17 percent of the space and a chiropractic clinic also occupies 17 percent of the space. All leases are NNN whereby real estate taxes, insurance, CAM, and management fees are reimbursed by the tenants. In addition, all tenants pay an additional admin fee of 10 to 15 percent of CAM. Surrounding demographics are strong. AHHI is approximately $130,000 within a 1-3-5 mile radius. Within a three mile radius, the population is approximately 105,000.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower