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800 Rockmead Dr
Kingwood, TX 77339
Three Kingwood Place · Office Property For Sale
Executive Summary
Outstanding opportunity to acquire the fee simple interest in a 92.6% leased, stable investment prominently located on Highway 59 (Interstate 69) in Kingwood, TX. The property is surrounded by banks, hotels, restaurants and shopping with proximity numerous premier golf courses. It is also 15 minutes from Bush International Airport and Beltway 8.
Comprised of 53,578 square feet, 800 Rockmead Drive is leased to a high quality roster of tenants with 2.62 years of weighted average lease term. The
property is heavily leased to 37.5% medical tenancy, 32.3% engineering & construction, 17.9% legal, and 3.4% financial services.
The property consists of a two-story multi-tenant atrium office building situated on approximately 3.61 acres. Built in 1981, this property is well-maintained with extensive renovations in the amount of $1,558,448 completed in 2022 and 2023. The Property features lush trees, park-like surroundings and pathways, as well as ample parking with access to 605 parking spaces.
The offering is priced at an attractive 9.25% cap ($7,217,011) allowing for ample positive leverage and cash flow growth with 4.64% NOI CAGR.
Comprised of 53,578 square feet, 800 Rockmead Drive is leased to a high quality roster of tenants with 2.62 years of weighted average lease term. The
property is heavily leased to 37.5% medical tenancy, 32.3% engineering & construction, 17.9% legal, and 3.4% financial services.
The property consists of a two-story multi-tenant atrium office building situated on approximately 3.61 acres. Built in 1981, this property is well-maintained with extensive renovations in the amount of $1,558,448 completed in 2022 and 2023. The Property features lush trees, park-like surroundings and pathways, as well as ample parking with access to 605 parking spaces.
The offering is priced at an attractive 9.25% cap ($7,217,011) allowing for ample positive leverage and cash flow growth with 4.64% NOI CAGR.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
53,573 SF
Building Class
B
Year Built
1981
Price
$9,830,723 CAD
Price Per SF
$183.50 CAD
Cap Rate
9.25%
NOI
$909,342 CAD
Percent Leased
93%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
26,787 SF
Slab To Slab
11’
Building FAR
0.34
Lot Size
3.61 AC
Zoning
5
Parking
225 Spaces (4.2 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Controlled Access
- Property Manager on Site
- Security System
- Natural Light
- Outdoor Seating
- Air Conditioning
Property Taxes
| Parcel Number | 6433-00-00900 | Improvements Assessment | $3,294,091 CAD |
| Land Assessment | $1,730,243 CAD | Total Assessment | $5,024,335 CAD |
Property Taxes
Parcel Number
6433-00-00900
Land Assessment
$1,730,243 CAD
Improvements Assessment
$3,294,091 CAD
Total Assessment
$5,024,335 CAD
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