12012 Wickchester Ln - Office FOR SALE


Houston, TX 77079- Energy Corridor
$17,912,000 USD
505-837-4955
12012 Wickchester Ln, Houston, TX for Sale
$17,912,000 USD
Office - FOR SALE
1/10
null | 8.5% Cap Rate

12012 Wickchester Ln
Houston, TX 77079
Energy Corridor


HIGHLIGHTS

  • Priced below replacement cost and equivalent to recent comps
  • 4 Years WALT Diversified tenancy with staggered lease expirations
  • 9.06% In-place lease rates 9.06% below market
  • Secure in-place cash flow with upside rent growth opportunity
  • Substantial discount to replacement cost
  • Significant CAPEX investment of +/- $1,481,424 for HVAC, Elevators, Lobbies, Corridors, LED Lighting, Signage, Parking, Landscaping and Patio Improvs.

OVERVIEW

CBRE is pleased to present to qualified investors the outstanding opportunity to acquire the fee simple interest in a 98% leased, stable investment prominently located on I-10 in the Energy Corridor, one of the most desirable sub-markets in the Houston, TX MSA. Comprised of 110,181 square feet, 12012 Wickchester Lane is 98% leased to a high-quality roster of tenants with 4 years of weighted average lease term and limited near term rollover. Prominently positioned within the I-10 Energy Corridor, 12012 Wickchester Lane is surrounded by Class A office campuses and buildings boasting lease rates far above the $14.79 NNN per square foot average, in-place rent at the Property mitigating flight risk and offering ample upside to the future owner. The offering is priced at an attractive 8.5% cap ($17,912,000) $162.57 per square foot allowing for ample positive leverage and cash flow growth with 5.26% NOI CAGR.

FOR SALE DETAILS

PRICE

$17,912,000 USD

PRICE/SF

$164 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wickchester Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

6

BUILDING CLASS

A

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

400

LAND DETAILS

LAND ACRES

3.72 AC

LAND SF

162,043 SF

ZONING

F1

APN/PARCEL ID

1147970000013

ASK ABOUT THIS PROPERTY

James DountasCBRE, Inc.More Info
505-837-4955

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James DountasCBRE, Inc.More Info
505-837-4955

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.