14521 Old Katy Rd Houston, TX 77079-1040

Property Details for 14521 Old Katy Rd

Year built

2005

Construction

STEEL FRAME

Lot size

8.23 lot acres

Property size

25,880 SF

Property type

Office buildings

APN

1268210010001

APU

1268210010001

Description

This exceptional investment opportunity presents two Class A office buildings totaling 63,000 square feet, situated on a 3.73-acre lot in Houston's prestigious Energy Corridor. Built in 2008 and renovated the same year, these three-story buildings boast a 93% occupancy rate, generating a current NOI of $734,315 and a pro-forma NOI of $817,509, representing a 10.96% cap rate and a pro-forma cap rate of 12.20%. The asking price is $6,700,000 ($106.37/SF). The property features a diverse tenant base including notable companies in the oil & gas, engineering, and medical fields, with a long-term lease in place with Mitsubishi extending to 2032. This owner/user opportunity offers significant value-add potential through lease-up of remaining vacancies and rent increases. The strategic location at the northeast quadrant of Interstate 10 and Highway 6 North provides excellent visibility and accessibility, with multiple access points and proximity to the Katy Freeway and Highway 6 North. The Energy Corridor's robust employment base, including major energy companies and other significant businesses, ensures strong demand for office space. This property is an irreplaceable asset in a rapidly developing area, adjacent to a 28-acre tract poised for major community development.

Location Insight

City

Houston

County

Harris

State

Texas

Longitude

-95.6415

Latitude

29.7864

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments