8448 Sam Houston N Pkwy Houston, TX 77040

Property Details for 8448 Sam Houston N Pkwy

Year built

2002

Lot size

2.57 lot acres

Property size

19,780 SF

Property type

Office buildings

APN

1238840010009

APU

1238840010009

Description

This exceptional investment opportunity presents a 25,000-square-foot traditional office building in Houston, Texas, currently under a net lease to an established tenant. Located at 8448 North Sam Houston Pkwy W, Houston, TX 77064, this property boasts excellent visibility and access, situated adjacent to the Sam Houston Tollway (183,513 AADT), approximately 2.5 miles from Tomball Parkway/SR-249 (141,023 AADT), and 4 miles from US-240 (210,098 AADT). The building, constructed in 2002 and renovated in 2015, sits on a 2.567-acre lot within the James Place Business Park, surrounded by other major businesses including Lennox, Salco Products, Inc., Brandt, NorAm Drilling, and more, as well as numerous large retailers such as Amazon, Home Depot, Target, and Walmart. The strong demographics of the area, with a daytime population of 322,984 and an average household income of $95,678 within a 5-mile radius, further enhance the property's value. The current net lease has a remaining term of 3.4 years, commencing April 1, 2023, and expiring March 31, 2028, with a favorable 2% annual rent increase. The asking price is $4,468,000, representing a price per square foot of $178.72 and an attractive 8.50% cap rate, with a Net Operating Income (NOI) of $379,746. This property offers a compelling investment opportunity due to its prime location, strong tenant, and attractive financial metrics, situated only 23 miles from downtown Houston and benefiting from Texas's no state income tax policy. The property is priced below replacement cost.