8300

 11% Cap Rate on Professional Office Building in Houston, TX at 84% Occupancy – 1st Day on Market

NEED ADDRESS ??? SIGN – commission protection agreement

For Sale

Price $629,000
Price/SF $45.18
Cap Rate 11.00%
NOI $70,620
Sale Type Investment
Status Active
On Market 1 Day
Last Updated May 18, 2017
Update

Building

Type2 Star Office
RBA 14,210 SF
Stories1
Typical Floor 14,210 SF
Class B
Construction Masonry
Year Built 1973
Year Renov 2008
Tenancy Multi
Owner Occup No
Elevators None
Parking 44 free Surface Spaces are available; Ratio of 3.00/1,000 SF
Taxes$1.10/SF (2016)
Opex$3.89/SF (2013)
Walk Score®Car-Dependent (49)
Transit Score®Some Transit (45)

Land

Land Acres 1.66 AC
Bldg FAR 0.20
Land SF 72,310 SF
Zoning None
2016 Assessment
Improvements
Land
Total Value
 $474,885
 $144,550
$619,435
 $33.42/SF
 $2.00/SF
$8.57/SF

Income & Expenses

Expenses 2016 Per SF
Operating Expenses
Taxes 15,663 1.10

Demographics

1 Mi 3 Mi
Population
10,174
80,259
Households
3,525
25,805
Average Age
38.00
36.00
Median HH Income
$29,097
$31,141
Daytime Employees
1,291
20,737
Population Growth ’17-’22
8.6%
8.2%
Household Growth ’17-’22
8.6%

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