2020 Highway 6 Alvin, TX 77511

Property Details for 2020 Highway 6

Year built

2014

Lot size

1.57 lot acres

Property size

10,100 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional 10,100 square foot medical office building in Alvin, Texas, presents a compelling investment opportunity. Located at 2020 E Hwy 6, this single-story, 2014-built property sits on a 1.57-acre lot and is currently under a net lease with the University of Texas Medical Branch (UTMB Health), a financially robust hospital system with over $31.4 billion in revenue. The lease, with a remaining term of 4.8 years, commenced October 1, 2014, and expires September 30, 2029. It includes one five-year option remaining. Rent increases are tied to fair market value at the option period, ensuring future income growth. The property boasts a 6.25% cap rate and a net operating income (NOI) of $248,864, with a current price per square foot of $394.26. The asking price is $3,982,000. Situated within the Houston MSA and benefiting from a strong demographic base of over 252,000 residents within a 20-minute radius, this property offers a secure, income-producing asset in a tax-free state. The tenant's recent exercise of a lease option underscores their commitment to this location. This is a rare opportunity to acquire a below-market rent medical office building with a strong tenant and significant upside potential.

Location Insight

City

Alvin

County

Brazoria

State

Texas

Longitude

-95.225

Latitude

29.4219