Current Use by Public Records
- Warehouses
Property Details for 23115 Morton Ranch Rd
- Year built
- 2023
- Lot size
- 2.50 lot acres
- Property type
- Warehouses
- Property subtype
- Day care centers
Description
This exceptional Katy, Texas investment opportunity presents three modern, 2023-built buildings totaling 29,165 square feet on a 2.5-acre lot. The property boasts a desirable "U" shaped layout, ideal for flex use encompassing retail, office, and warehouse space. Currently 100% occupied by five tenants under triple-net (NNN) leases with personal guarantees, this multi-tenant property offers a secure and stable income stream. Each of the three buildings comprises approximately 9,890 square feet, providing flexibility and potential for future expansion or redevelopment. The property's strong occupancy rate and favorable lease terms contribute to an attractive 6.00% capitalization rate. Located in Harris County at 23115 Morton Ranch Rd, Katy, TX 77449, this Class B property is priced at $6,500,000, or $223 per square foot. The property's strategic location and diverse tenant mix make it an excellent addition to any investment portfolio. This is a turnkey investment opportunity with significant upside potential. Detailed financial information is available upon request.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Katy
- County
- Harris
- State
- Texas
- Longitude
- -95.7746
- Latitude
- 29.8166
