5011 Navigation BlvdHouston, TX 77011

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.