1842 Snake Riv Rd E E Ste Katy, TX 77449-7756

Property Details for 1842 Snake Riv Rd E E Ste

Year built

2006

Construction

BRICK

Lot size

0.06 lot acres

Property size

710 SF

Property type

Office Properties & Spaces

APN

1274400170005

APU

1274400170005

Description

This exceptional Class A medical office condo complex, located at 1842 Snake River Rd, Katy, TX 77449, presents a compelling investment opportunity. The freehold property, built in 2006, comprises a single-story building with six individual units, each measuring 675 square feet, totaling 4,050 square feet of net rentable space. Currently, 67% occupied, the property boasts a strong tenant base with a corporate guarantee securing a significant portion of the income stream. Four units (2,700 sq ft) are under a 10-year lease, commencing January 1, 2024, and expiring December 31, 2033, generating a monthly rental income of $4,500. Two additional units (1,350 sq ft) were previously rented at $2,700 per month and are currently vacant, offering immediate upside potential. The property's prime location offers easy access to Highway I-10, Fry Road, and numerous retail and restaurant options. The asking price is $1,310,000, translating to $323.46 per square foot. The HOA fee is $150 per unit, totaling $900 per month. This stabilized investment presents a rare opportunity to acquire a well-located, income-producing medical office property with significant long-term growth potential. The remaining lease term is approximately 9.1 years.

Location Insight

City

Katy

County

Harris

State

Texas

Longitude

-95.723

Latitude

29.7924

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments