Current Use by Public Records
- Warehouses
Property Details for 405 Dr M.l.k. Jr. Pl
- Year built
- 1977
- Lot size
- 0.59 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This 10,000-square-foot vacant warehouse, located at 405 Dr. M.L.K. Jr. Pl S in Conroe, Texas (77301), presents a compelling owner-user opportunity or value-add investment. The Class C industrial property sits on a 0.59-acre lot and boasts eight grade-level loading docks, a 12-foot ceiling height, and three-phase power. Built in 1977, the single-unit building offers approximately 1,500 square feet of mezzanine storage above the office space. The property also includes approximately 9,000 square feet of lighted paved parking secured by a sliding entry gate. The building's design allows for potential conversion into a multi-tenant asset. This prime location in the Woodlands/Conroe submarket offers easy access to major highways including I-45, I-69, and State Highway 99 (Grand Parkway), placing it within a short commute of Houston's rapidly growing population centers. The asking price is $800,000, representing a price per square foot of $80 and a pro-forma cap rate of 11.25%, with a pro-forma NOI of $90,000. The property is offered fee simple. The Montgomery County location benefits from its proximity to major transportation arteries and serves a thriving market. This presents a strong opportunity for investors seeking a value-add project or owner-occupiers needing a functional warehouse space.
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
- Conroe
- County
- Montgomery
- State
- Texas
- Longitude
- -95.4496
- Latitude
- 30.3028
