16010 Barkers Point LnHouston, TX 77079

This auction presents a significant value-add opportunity to acquire a six-story, 120,651 square foot Class B office building situated on a 3.06-acre lot in Houston, Texas. Currently 19.4% occupied with 24 tenants across 33 units, this multi-tenant property offers substantial upside potential. The building, constructed in 1983 and renovated in 2012, boasts 120 parking spaces and is strategically located at 16010 Barkers Point Ln, Houston, TX 77079. Its prime location in the I-10 West/Energy Corridor submarket, a highly active area for corporate relocations, provides excellent access to major thoroughfares including I-10 West (Katy Freeway) and Highway 6 South, experiencing approximately 71,000 vehicles per day. The property benefits from a strong demographic profile, with approximately 243,497 people residing within a 5-mile radius, boasting an average household income of approximately $97,349. The auction is scheduled for September 23-25, 2024, with a starting bid of $1,000,000. The building features a range of suite sizes readily available for lease, presenting immediate value-add potential. This fee-simple ownership opportunity is ideal for investors seeking to capitalize on the growth and development within this dynamic Houston submarket. The property's ample parking and proximity to numerous restaurants and amenities further enhance its appeal. Occupancy is projected to be 19.4% as of August 1, 2024.