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Wickchester Center 12012 Wickchester Ln 110,181 SF 98% Leased 4-Star Office Building Houston, TX 77079 $25,003,720 CAD ($226.93 CAD/SF) 8.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Priced below replacement cost and equivalent to recent comps
- 9.06% In-place lease rates 9.06% below market
- Substantial discount to replacement cost
- 4 Years WALT Diversified tenancy with staggered lease expirations
- Secure in-place cash flow with upside rent growth opportunity
- Significant CAPEX investment of +/- $1,481,424 for HVAC, Elevators, Lobbies, Corridors, LED Lighting, Signage, Parking, Landscaping and Patio Improvs.
EXECUTIVE SUMMARY
CBRE is pleased to present to qualified investors the outstanding opportunity to acquire the fee simple interest in a 98% leased, stable investment prominently located on I-10 in the Energy Corridor, one of the most desirable sub-markets in the Houston, TX MSA.
Comprised of 110,181 square feet, 12012 Wickchester Lane is 98% leased to a high-quality roster of tenants with 4 years of weighted average lease term and limited near term rollover. Prominently positioned within the I-10 Energy Corridor, 12012 Wickchester Lane is surrounded by Class A office campuses and buildings boasting lease rates far above the $14.79 NNN per square foot average, in-place rent at the Property mitigating flight risk and offering ample upside to the future owner.
The offering is priced at an attractive 8.5% cap ($17,912,000) $162.57 per square foot allowing for ample positive leverage and cash flow growth with 5.26% NOI CAGR.
Comprised of 110,181 square feet, 12012 Wickchester Lane is 98% leased to a high-quality roster of tenants with 4 years of weighted average lease term and limited near term rollover. Prominently positioned within the I-10 Energy Corridor, 12012 Wickchester Lane is surrounded by Class A office campuses and buildings boasting lease rates far above the $14.79 NNN per square foot average, in-place rent at the Property mitigating flight risk and offering ample upside to the future owner.
The offering is priced at an attractive 8.5% cap ($17,912,000) $162.57 per square foot allowing for ample positive leverage and cash flow growth with 5.26% NOI CAGR.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
110,181 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1983/2021
Price
$25,003,720 CAD
Price Per SF
$226.93 CAD
Cap Rate
8.50%
NOI
$2,125,266 CAD
Percent Leased
98%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
18,364 SF
Slab To Slab
12’
Building FAR
0.68
Lot Size
3.72 AC
Zoning
F1 - Commercial
Parking
400 Spaces (3.63 Spaces per 1,000 SF Leased)
AMENITIES
- Controlled Access
- Conferencing Facility
- Courtyard
- Food Service
- Property Manager on Site
- Restaurant
- Security System
- Food Service
- Recessed Lighting
- Monument Signage
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Spacious spec suite with 3,736 sqft available.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 150 | 3,736 SF | Office | Spec Suite | Now |
1st Fl-Ste 150
| Size |
| 3,736 SF |
| Space Use |
| Office |
| Condition |
| Spec Suite |
| Available |
| Now |
1 of 3
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Fl-Ste 150
| Size | 3,736 SF |
| Space Use | Office |
| Condition | Spec Suite |
| Available | Now |
Spacious spec suite with 3,736 sqft available.
PROPERTY TAXES
| Parcel Number | 1147970000013 | Improvements Assessment | $5,229,659 CAD |
| Land Assessment | $8,524,062 CAD | Total Assessment | $13,753,721 CAD |
PROPERTY TAXES
Parcel Number
1147970000013
Land Assessment
$8,524,062 CAD
Improvements Assessment
$5,229,659 CAD
Total Assessment
$13,753,721 CAD
1 of 11
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Wickchester Center | 12012 Wickchester Ln
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