350 Nursery Rd Spring, TX 77380

Property Details for 350 Nursery Rd

Year built

2021

Property size

5,498 SF

Property type

Office properties & Spaces

Description

This exceptional investment opportunity presents a 5,498 square foot office suite located within the Grogan's Gate Professional Center, Suite 7200, at 350 Nursery Rd, Spring, TX 77380. The property, built in 2021, is a Class B, multi-tenant professional office space with a current occupancy rate of 60%. Priced at $1,924,300, this translates to a compelling price per square foot of $350 and a projected 7.00% cap rate. The building is situated in a rapidly growing area adjacent to The Woodlands, a master-planned community boasting over 100,000 residents and 40,000 jobs. This prime location offers convenient access to major roadways, amenities, and significant corporate centers, including Exxon, SWN, and Anadarko. The property benefits from ample parking, a characteristic of the area's redevelopment from residential to commercial use. The Grogan's Gate Professional Center comprises a total of 24,000 square feet of office space distributed across six single-story buildings and one two-story building (12,500 SF). The construction features metal frames, metal roofs, and a blend of stucco, brick, and metal siding. The lease type is NNN. This property is ideally suited for small to medium-sized businesses and service providers seeking a professional presence at a competitive price point within the thriving Woodlands area. The building is a two-story structure.