800 Tully Rd
Houston, TX 77079
Bureau Propriété À vendre

800 Tully Road is a ±16,571 SF, two-story multi-tenant office building on a ±0.46-acre (±20,038 SF) urban infill parcel in Houston's Katy Freeway West submarket. Built of
steel in 1984 with a single passenger elevator and efficient ±8,725 SF floor plates, the Class B building offers controlled access, air conditioning served by four Trane
rooftop units, and ±54 parking spaces, 21 on-site and 33 leased from an adjacent garage (16 covered, 17 uncovered) under a long-term lease. It sits directly behind
Stratford High School, less than a mile south of Interstate 10 (the Katy Freeway) and minutes from the CityCentre and Memorial City districts and the Energy Corridor —
a premier employment center of ~71,000 jobs and major energy tenants (bp, Shell, ConocoPhillips, Citgo). The site lies outside the 100-year Special Flood Hazard Area
(mapped in the 500-year floodplain), so flood insurance is not federally mandated.
The investment thesis is lease-up. The building is less than 10% leased today — five small tenant leases, several of them single offices — leaving more than 90%
vacant. In-place rents sit below the Katy Freeway West submarket's $24.53/SF average asking rent, so a buyer can create value on two fronts: leasing the vacant
majority of the building, and marking the below-market space to market as leases roll — underwritten against a low, defensible basis in a high-barrier infill location.
The asset suits either a value-add investor pursuing occupancy and rent growth, or an owner-user who can occupy the space it needs and lease the balance.
SUBMARKET OVERVIEW
800 Tully Road sits in Katy Freeway West, along I-10 between Beltway 8 and the Energy Corridor — an established West Houston corridor bordered by the affluent
Memorial Villages, which supply both an executive workforce and a deep base of small professional-services tenants.
The property anchors a dense, affluent, growing trade area. Within two miles, average household income is $126,409, 58% of adults hold a bachelor's degree or higher,
and more than 5,500 households earn over $200,000; within three miles there are ~145,600 residents and 78,458 daytime employees, with ~7% projected population
growth through 2030.
Access is strong — less than a mile south of I-10, with both Hobby and George Bush Intercontinental airports within a 40-minute drive. Corridor demand is anchored by
the energy sector and diversified by professional-services, engineering, and medical users, and West Houston is drawing fresh capital — including OHT Partners'
~360-unit multifamily project and Midway's mixed-use development — tightening the supply of well-located small-tenant space.