Retail    

Austin Professional Plaza

 Houston, Texas

Asking Price

$3,410,000

Cap Rate

6.65%

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Year Built

2006

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Total Acres

2.77

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Square Feet

16,500 SF

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Avg HHI

$97K (5-Mile)

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Population

404K (5-Mile)

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INVESTMENT HIGHLIGHTS

  • Attractive, High-Quality Professional Building
    Excellent visibility and multiple access points
  • Proximity to University of Houston
    The Property is less than 2 miles from the main campus
  • Close Proximity to the New 130,000 Square Foot Tilman J. Fertitta Family College of Medicine
  • Stable Tenancy With Very Minimal Vacancy (10%)
  • Potential Future Upside With Leasing the “White Box” Vacant Space
  • Desirable Medical Tenants
    Staggered rents with annual rent increases in primary terms
  • 7.23 Percent Proforma Cap Rate in Year 2 / 8.1% Cash on Cash Return
  • Priced Below Replacement Cost - $206 PSF
  • Over 5 Years of Weighted Average Lease Term Remaining

Exclusively Listed By

Riley Sharman

Vice President
  rsharman@northmarq.com      832.497.2558
TX Lic. #781579

Chris Howard

Lead Investment Analyst
  choward@northmarq.com   

In Association With
Jim Gibson

TX Lic. #392926

Northmarq

800 Gessner Road, Suite 950
Houston, TX 77024


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