16010 Barkers Point LnHouston, TX 77079

For Sale
$1,000,000

120,651 SF Class B Office, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
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.

Highlights

  • $1,000,000 Starting Bid; REIT Sale; 120,651 SF Class B Office Building; Auction: September 23-25, 2024.
  • 120,651 SF, six-story, multi-tenant office building with covered parking in Houston's Energy Corridor.
  • 19.4% occupied, offering immediate value-add potential with various suite sizes available for lease.
  • 3.06-acre site on Highway 6 South (approx. 71,000 VPD), near I-10 West (approx. 192,000 VPD).
  • Strong residential growth due to the Grand Parkway.
  • Located in a densely populated area with 243,497 people within a 5-mile radius and an average household income of $97,349.

Property Details for 16010 Barkers Point Ln

Property type
Other office properties, Office properties
Square Feet
120,651 SF
Class
B
Year Built/Renovated
1983/2012
Buildings
1
Stories
6
Lot Size (sq. ft)
133,294 SF
Units
33

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7777507
Longitude
-95.6428266
16010 Barkers Point Ln, Houston, Texas

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16010 Barkers Point Ln
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