1910 1st St E - Office FOR SALE


Humble, TX 77338- Lake Houston
$1,975,302 USD
818-484-1658
1910 1st St E, Humble, TX for Sale
$1,975,302 USD
Office - FOR SALE
1/3
null | 6.5% Cap Rate

1910 1st St E
Humble, TX 77338
Lake Houston


HIGHLIGHTS

  • Joint Venture Partnership with Leading Health System – The facility is operated through a joint-venture partnership between Memorial Hermann Health Sy
  • Credit Rated Tenant Affiliation – Memorial Hermann Health System (Fitch: AA-) reported approximately $8.6 billion in annual revenue for the 12 months
  • Integrated Partnership Drives Tenant Stability – The joint-venture alignment between the health system and physicians creates a steady referral networ
  • Dominant Regional Health System Operator – Houston Physicians’ Hospital is an award-winning hospital with around 14 physical therapy locations through
  • Specialized Rehabilitation Facility – The facility features a dedicated aquatic therapy pool, designed to support low-impact, high efficiency recovery

OVERVIEW

Matthews™ Healthcare Division is pleased to present the opportunity to acquire a specialized aquatic physical therapy facility operated by Houston Physicians’ Hospital. The tenant entity represents a joint venture partnership between Memorial Hermann Health System (Fitch: AA-) and United Surgical Partners International (USPI) (51%), along with Houston Physicians’ Hospital (49%). This structure provides investors with enhanced security and confidence given the partnership’s strong credit profile and institutional backing. The offering comprises a 100% fee simple interest in a 0.55-acre parcel located in one of Houston’s thriving northern suburbs. Houston, home to more than 7.5 million residents, ranks among the nation’s leading economic centers—boasting the third-largest concentration of Fortune 500 companies in the U.S. If considered an independent country, Houston’s economy would rank as the 24th largest in the world. The 8,048-square-foot rehabilitation facility features a dedicated aquatic therapy pool, purpose-built to facilitate low-impact, high-efficiency recovery for orthopedic, neurologic, and post-surgical patients. This niche therapy component underscores the facility’s specialized service offering and contributes to a stable, referral-driven patient base. Memorial Hermann Health System (Fitch: AA-) reported approximately $8.6 billion in annual revenue for the twelve months ending June 30, 2024. USPI, a subsidiary of Tenet Healthcare Corporation (NYSE: THC), operates more than 500 surgical facilities nationwide. These affiliations with financially strong, nationally recognized healthcare organizations reinforce the tenant’s credit quality and further bolster buyer confidence. The tenant’s NNN lease is in place through 2030. Should the current tenant entity decide not to renew either lease in 2030, an affiliated HPH entity has executed a forward lease at the property effectively providing investors an additional 7 years of lease term through 2037. A rental obligation of $1,277,000 has been placed in escrow – thus providing investors additional security that they will receive a rental income stream for the property through 2037 while also creating a significant incentive for the current tenant entity to renew their lease. The combination of institutional credit, specialized healthcare use, and built-in lease protections positions this asset as a compelling long-term investment in the Houston MSA. Broker of Record Patrick Graham License # 9005919 (TX) Matthews Real Estate Investment Services, Inc 8300 Douglas Ave., Ste. 750, Dallas, TX 75225 (866) 889-0550 Andrew Fagundo, Tyler Swade, Michael Moreno, and Rahul Chhajed (in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code)

FOR SALE DETAILS

PRICE

$1,975,302 USD

PRICE/SF

$279 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Houston Physicians’ Hospital | NNN Lease

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

24,172 SF

ZONING

-

APN/PARCEL ID

1151810060009

ASK ABOUT THIS PROPERTY

Andrew FagundoMatthews Real Estate Investment ServicesMore Info
818-484-1658

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Andrew FagundoMatthews Real Estate Investment ServicesMore Info
818-484-1658

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