14521 Old Katy RdHouston, TX 77079

For Sale
$6,700,000

63,000 SF, Houston Office Buildings

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents two Class A office buildings totaling 63,000 square feet, situated on a 3.73-acre lot in Houston's prestigious Energy Corridor. Built in 2008 and renovated the same year, these three-story buildings boast a 93% occupancy rate, generating a current NOI of $734,315 and a pro-forma NOI of $817,509, representing a 10.96% cap rate and a pro-forma cap rate of 12.20%. The asking price is $6,700,000 ($106.37/SF). The property features a diverse tenant base including notable companies in the oil & gas, engineering, and medical fields, with a long-term lease in place with Mitsubishi extending to 2032. This owner/user opportunity offers significant value-add potential through lease-up of remaining vacancies and rent increases. The strategic location at the northeast quadrant of Interstate 10 and Highway 6 North provides excellent visibility and accessibility, with multiple access points and proximity to the Katy Freeway and Highway 6 North. The Energy Corridor's robust employment base, including major energy companies and other significant businesses, ensures strong demand for office space. This property is an irreplaceable asset in a rapidly developing area, adjacent to a 28-acre tract poised for major community development.

Highlights

  • 3.73-acre tract in Houston's Energy Corridor.
  • Prime location near major development projects.
  • Excellent condition office buildings, ideal for owner-users or investors.
  • Multiple access points to Katy Freeway's westbound feeder and Highway 6 North.
  • High visibility on I-10 (Katy Freeway) with 200,000-250,000 VPD.

Property Details for 14521 Old Katy Rd

Property type
Other office properties, Medical offices
Square Feet
63,000 SF
Year Built/Renovated
2008/2008
Buildings
2
Stories
3
Lot Size (sq. ft)
162,479 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.785897575228
Longitude
-95.642305932494
14521 Old Katy Rd, Houston, Texas

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14521 Old Katy Rd
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