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601 Sawyer St 88,258 SF 61% Leased Office Building Houston, TX 77007 For Sale 9.05% Cap Rate
Investment Highlights
- Ideal Owner/Occupier or Investor Purchase Opportunity, Value-Add Play at 61% Occupancy
- Top Floor (Seventh) Available for Owner/Occupier, Balconies on Levels Two-Seven
- All Leases are Triple Net; Plug & Play Suites Ready for Occupancy
- Below Market Occupancy versus Midtown Office Market Occupancy at ±89% (CoStar)
- ±12,200 Floorplates for Smaller Tenants Desiring a Full Floor
- Building Lounge/Snack Shop Operated by Parks Pantry; Garage and Surface Parking (4.1/1000)
Executive Summary
A key investment driver is the property's current approximately 61 percent occupancy, creating an opportunity for a new owner to increase cash flow through strategic leasing of vacant space. Existing leases are structured as triple-net (NNN), providing an efficient operating profile while allowing investors to capture future rental rate increases. Available suites include fully built-out, plug-and-play space, and the entire seventh (top) floor presents an attractive opportunity for an owner-occupier such as law firm or others seeking a headquarters presence.
The location provides exceptional accessibility to Houston’s major transportation corridors, including I-10, I-45, US-59/69 and Memorial Drive, while being just minutes from Downtown Houston and The Washington Avenue Corridor and Midtown’s restaurant scenes. Tenants benefit from immediate access to the Buffalo Bayou trail system and the vibrant Washington Avenue entertainment district, which continues to attract both employers and residents seeking an urban live-work-play environment.
The property offers a competitive tenant amenity package including a Building Lounge with a Parks Pantry Market, locker rooms with showers, controlled access, on-site courtesy officer, garage and surface parking with a ratio exceeding four spaces per 1,000 rentable square feet. These amenities, including building signage opportunities, position this asset favorably against competing Class B and value-oriented Class A offerings in the submarket.
From an investment perspective, 601 Sawyer combines stable in-place income anchored by long-term tenants, including the City of Houston, with meaningful lease-up potential in a supply-constrained urban location of ±89 percent (per CoStar) The opportunity is well suited for investors seeking a basis significantly below replacement cost, value creation through occupancy improvements, and long-term appreciation in one of Houston’s most dynamic urban inner loop office corridors.
Property Facts
Amenities
- 24 Hour Access
- Bus Line
- Controlled Access
- Food Service
- Security System
- Signage
- Wheelchair Accessible
- Kitchen
- Reception
- Central Heating
- Natural Light
- Secure Storage
- Shower Facilities
- Wi-Fi
- Monument Signage
- Air Conditioning
- Balcony
- Fiber Optic Internet
- Smoke Detector
Major Tenants Click Here to Access
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- SF Occupied
- Rent/SF
- Lease Type
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- Health Care and Social Assistance
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At Empire Chiropractic and Rehab, LLC, they offer the highest standard of patient care to ensure your physical health. Since 2011, Dr. Banh has been treating patients with integrity, devotion, and compassion. Their mission is to help patients regain function and improve their overall quality of life. Get in touch to learn about the services we provide.
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Texas attorneys Keith Lapeze and Chris Johns formed Lapeze & Johns because they knew that their wealth of shared experiences working at the most prestigious law firms and with the most successful trial lawyers in the country would make them an extremely formidable team. When opposing lawyers see that they’re up against Keith and Chris, they know that they’re going up against unrelenting lawyers ready for a tough fight. Between the two of them, Keith and Chris have over 30 years worth of experience working as trial lawyers throughout Texas, the Gulf Coast, and around the country. Through those years, Chris and Keith have earned excellent reputations amongst the judges in whose courts they’ve tried cases, the peers with whom they’ve worked, and the defense attorneys over whom they’ve triumphed. Both are consistently voted into state and national peer review studies that acknowledge all of the good that they do — fighting the good fight for their clients.
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- Real Estate
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Morris Strategic Investments is a private real estate investment company focused on commercial real estate and related assets. The company began after the sale of Southern National Bank of Texas and built its business around investment and management activity in Texas. Its portfolio includes raw land, assisted living, land development, retail centers, office buildings, and multifamily property types. Morris Strategic Investments conducts business through investment relationships and a portfolio centered on financially sound opportunities with community value.
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Structure Tone was founded in NYC as an interior and renovation construction company, and that is largely what they are still known for today. They pride themselves on the long-term relationships they have built with their clients and industry partners, which have made them one of ENR’s top three contractors in New York and consistently the #1 interior contractor in the region, year after year. New York City is one of the most complex and challenging places to build, and no one navigates it better than they do. Their decades of experience in the city and the depth of their resources enable them to match the right team to each project—whether it’s a 1Msf tech company headquarters, a major renovation of a historic icon like St. Patrick’s Cathedral, upgrades to reposition a building, or a series of restacking projects in a building they have worked in for decades. No project is too big or too small.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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Health Care and Social Assistance | - | $9.99 | Lorem Ipsum | Jan 0000 | |
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Professional, Scientific, and Technical Services | - | - | - | Jan 0000 | |
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Property Taxes
| Parcel Number | 0220640000001 | Improvements Assessment | $6,850,764 CAD |
| Land Assessment | $4,881,910 CAD | Total Assessment | $11,732,674 CAD |
Property Taxes
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601 Sawyer St
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