17240 Huffmeister Rd Cypress, TX 77429

Property Details for 17240 Huffmeister Rd

Year built

2006

Lot size

1.38 lot acres

Property size

15,780 SF

Property type

Office Properties & Spaces

Description

This exceptional investment opportunity presents a portfolio of five Class B office buildings comprising approximately 15,780 net rentable square feet in the desirable Northwest Houston submarket. Located at 17240 and 17510 Huffmeister Road, Cypress, Texas, 77429, this property boasts a prime location on 358 feet of frontage at a high-traffic intersection, benefiting from over 26,000 vehicles daily. The portfolio consists of three single-story and two two-story buildings, featuring 14 units with suite sizes ranging from 800 to 1,560 square feet. Currently 94% occupied with 13 tenants, the property features a strong tenant base under Net Net (NN) leases with annual escalations, ensuring a stable income stream. The portfolio's Net Operating Income (NOI) stands at $236,372, reflecting a significant increase of $93,000 since the fourth quarter of 2022. Built in 2006 and 2008, this Core+ Value-Add investment offers a compelling opportunity for long-term growth, particularly given the projected decrease in cap rates within the next 2-4 years. The property sits on a 1.38-acre lot and benefits from the current owners' successful value-add strategy, which included raising rental rates and securing long-term leases. This is a rare opportunity to acquire a stabilized, high-performing office portfolio in a thriving Houston submarket. The current leases are locked in for 3-6 years, mitigating risk and providing predictable cash flow.