15055 Fwy Service Rd Channelview, TX 77530
- Office Properties & Spaces
- 109,489 SF
- 7.72 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 15055 Fwy Service Rd
- Year built
- 1983
- Lot size
- 7.72 lot acres
- Property size
- 109,489 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity comprises four buildings totaling 109,489 square feet of Class B medical office space situated on a 7.72-acre lot in Channelview, Texas, at 15101 & 15055 I-10 East, zip code 77530. The property, built in 1983 and renovated in 2016, features a three-story configuration and offers ample parking (184 spaces per 1,000 sq ft). The portfolio includes a 100% occupied building leased to Southwest Key, a long-term tenant providing youth residential services, and three additional multi-tenant medical office buildings currently at 88% occupancy. These three buildings present a significant value-add opportunity due to below-market rents on short-term leases, allowing for substantial lease-up potential. The property is offered at $11,872,514 with a compelling 10.50% cap rate. The sale is a Triple Net (NNN) lease structure. This prime location in Harris County offers excellent access to Interstate 10, providing convenient access for patients and staff. The property's history includes a previous use as a long-term acute care hospital, showcasing its adaptability and suitability for various medical uses. The existing tenant base provides a strong foundation for future growth and income generation. This is a rare opportunity to acquire a well-positioned medical office portfolio with significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Channelview
- County
- Harris
- State
- Texas
- Longitude
- -95.1461
- Latitude
- 29.7749
