4850 Main St Houston, TX 77002-9718

Property Details for 4850 Main St

Year built

1998

Construction

CONCRETE BLOCKS

Lot size

0.23 lot acres

Property size

3,150 SF

Property type

Retail space

APN

331910000007

APU

331910000007

Description

This exceptional investment opportunity presents a 3,100 square foot medical office building located at 4850 Main Street, Houston, Texas 77002. The property, built in 1998 and extensively renovated in 2023, sits on a 0.23-acre lot and boasts a 10.2-year remaining lease term with MyEyeDr., a national corporate tenant with over 820 locations. The lease is a corporate guaranteed net lease, providing significant investor security, and includes rent bumps of $6,450 every five years. The current asking price is $1,255,384, representing a 6.50% cap rate and a price per square foot of $404.96. The property enjoys 100% occupancy and generates a net operating income (NOI) of $81,600 annually. Its strategic location on Main Street, a major thoroughfare with 28,000 vehicles per day, offers excellent visibility and accessibility. The property benefits from its proximity to key economic drivers, including Downtown Houston, Rice University, the University of Houston, the Texas Medical Center, The Galleria Mall, NRG Stadium, and West University, all within a five-mile radius. Main Street also provides direct access to Interstate 69, a high-traffic artery with over 98,000 vehicles per day. This investment offers a compelling combination of a strong tenant, a long-term lease, and a prime location in a rapidly growing area of Houston, Texas. The recent acquisition of MyEyeDr. by Goldman Sachs further underscores the financial strength and stability of the tenant.

Location Insight

City

Houston

County

Harris

State

Texas

Longitude

-95.3863

Latitude

29.7304

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments