16000 Barkers Point LnHouston, TX 77079

For Sale
$4,950,000

West Houston Office Building, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
93
Barkers Point Plaza, a two-story, 41,607 square foot Class B office building in Houston, Texas, presents a compelling investment opportunity. Located at 16000 Barkers Point Lane, this fee-simple property boasts a prime location, just one block north of Memorial Drive and Addicks Howell Road, with convenient access to Highway 6 South and I-10 West. The 2.12-acre L-shaped lot offers three ingress/egress points, including tenant monument signage at the Barkers Point Lane entrance. Built in 1981 and extensively renovated in 2016, the building features a well-appointed two-story atrium lobby, 52 reserved covered parking spaces, and a multi-tenant occupancy of approximately 80.6%. Recent capital improvements exceeding $475,000 include a new fire alarm system, reserved carport parking, updated sidewalks, HVAC replacement, modernized restrooms, EMS HVAC controls, lobby and hallway renovations, and a new roof. The property's strong historical occupancy (averaging approximately 93% from 2018-2023) and small average tenant size (approximately 1,300 square feet) minimize downside risk. The asking price is $4,950,000, representing a pro-forma cap rate of 6.99% and a price per square foot of $124.98. Numerous nearby restaurants add to the property's appeal. This well-maintained asset, owned by the same family for nearly 25 years, offers a positive cash flow and is ideal for owner-users or investors seeking a value-add opportunity in a thriving West Houston location.

Highlights

  • 93% average occupancy (year-end 2018-2023).
  • Minimal downside risk due to average tenant space of ~1,300 square feet.
  • Positive cash flow from day one.
  • $475,000 in recent capital improvements.
  • Move-in ready vacant suites.
  • Exceptionally well-maintained; family-owned for 25 years.

Property Details for 16000 Barkers Point Ln

Property type
Other office properties, Office space
Square Feet
41,607 SF
Class
B
Year Built/Renovated
1981/2016
Buildings
1
Stories
2
Lot Size (sq. ft)
92,347 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7768929
Longitude
-95.6426321
16000 Barkers Point Ln, Houston, Texas

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16000 Barkers Point Ln
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