5011 Navigation BlvdHouston, TX 77011

For Sale
$1,800,000

Prime East End Compound, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional Houston property offers a rare opportunity to acquire a 21,343 sq ft flex space, encompassing creative office and warehouse components. Situated on a 20,000 sq ft lot at 5011 Navigation Blvd, in the desirable East End, this single-tenant, Class C building features a 5-year NNN lease commencing October 1, 2023, with rent bumps included. The property boasts a strong NOI of $140,694, yielding a 7.82% cap rate at an asking price of $1,800,000 ($84.34/sq ft). Built in 1955, the two-story building comprises three units and benefits from its location near significant developments like Bumpy Pickle, East River, and the Buffalo Bayou expansion. The property is currently vacant, with occupancy slated for October 1, 2023. While the building lacks loading docks or dock-high doors, its ceiling height ranges from 9 to 18 feet, offering versatile space. This investment presents a compelling opportunity in a rapidly developing area of Houston, within the Harris County Opportunity Zone. The property's zoning is N/Ap, Houston. The lease term extends to September 30, 2028, leaving approximately 3.9 years remaining.

Highlights

  • $1,800,000 asking price for a 21,343 square foot industrial/office property in Houston, TX.
  • Net lease, single-tenant occupancy with a 3.9-year remaining lease term (5-year lease, commencing 10/1/2023).
  • 7.82% cap rate with a $140,694 annual net operating income (NOI).
  • Located at 5011 Navigation Blvd, Houston, TX 77011, in the East End.
  • Features 9-18 foot ceiling heights, two stories, and a 20,000 square foot lot.
  • Class C building constructed in 1955, with rent bumps included in the lease.

Property Details for 5011 Navigation Blvd

Property type
Other warehouses, Other office properties
Square Feet
21,343 SF
Class
C
Year Built
1955
Buildings
1
Stories
2
Units
3

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.750341285277
Longitude
-95.321386212069
5011 Navigation Blvd, Houston, Texas

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5011 Navigation Blvd
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