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616 FM 1960 Rd W 142,194 SF 57% Leased 4-Star Office Building Houston, TX 77090 $44,806,080 CAD ($315.11 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Strategically located in Houston
- Impressive 95% occupancy rate
Executive Summary
Introducing a prime investment opportunity, the 142,194 SF 616 FM 1960 W Rd Office Building features 255 units, making it an ideal asset for office building investors. Built in 1982 and recently renovated in 2022, this strategically located property offers a solid occupancy rate, providing a stable income stream for savvy investors. Zoned commercial, this impressive office building presents strong potential for long-term tenancy stability and value appreciation in the thriving Houston market. With its substantial size, prime location, and impressive occupancy rate, this property stands as a lucrative and promising investment opportunity for discerning investors seeking a foothold in Houston's commercial real estate landscape.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
142,194 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1982
Price
$44,806,080 CAD
Price Per SF
$315.11 CAD
Cap Rate
6.50%
NOI
$2,912,395 CAD
Percent Leased
57%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
17,063 SF
Slab To Slab
10’
Building FAR
0.89
Lot Size
3.66 AC
Parking
628 Spaces (4.42 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Banking
- Bus Line
- Controlled Access
- Conferencing Facility
- Fenced Lot
- Food Service
- Property Manager on Site
- Security System
- Signage
- Central Heating
- Monument Signage
- Air Conditioning
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1082270000004 | Improvements Assessment | $5,678,385 CAD |
| Land Assessment | $2,265,357 CAD | Total Assessment | $7,943,742 CAD |
Property Taxes
Parcel Number
1082270000004
Land Assessment
$2,265,357 CAD
Improvements Assessment
$5,678,385 CAD
Total Assessment
$7,943,742 CAD
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616 FM 1960 Rd W
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