702 N Thompson St - Office FOR SALE


Conroe, TX 77301- Downtown Conroe
$2,700,000 USD
936-524-7328
702 N Thompson St, Conroe, TX for Sale
$2,700,000 USD
Office - FOR SALE
1/24
null | Request Cap Rate

702 N Thompson St
Conroe, TX 77301
Downtown Conroe


HIGHLIGHTS

  • Prime downtown Conroe location just two blocks from the Montgomery County Courthouse and surrounding government and professional offices.
  • Approximately 17,000 square feet of brick and steel frame office improvements on 1.5 acres spanning a full city block with three street frontage.
  • Rare ample parking plus an additional 0.5 acre paved lot across the street, a rare and highly desirable feature for downtown properties.
  • Flexible lease terms provide stable income with near term rent growth potential and flexibility for owner occupancy.
  • Extensive 2024 renovation to exterior and interior areas of the property.
  • All lease space are fully built out with flexible sizes and layouts to accurate a variety of uses.

OVERVIEW

The Thompson, comprised of 702 & 704 North Thompson Street, presents the opportunity to acquire a well located, approximately 17,000 square foot multi tenant professional office property in the heart of downtown Conroe. Positioned just two blocks from the Montgomery County Courthouse and surrounding city offices, the property benefits from consistent demand from legal, governmental, and professional service users seeking proximity to the county seat and downtown business core. Originally constructed for county administrative use for the county seat of Montgomery County, the property is an impressive brick and steel frame building that has served a wide range of governmental and professional tenants over its history. The original property has been expanded and now comprised of two separate buildings with a shared atrium, and two large parking lots, remains today, an established well known office location within the community. Most recently, the building completed a comprehensive 2024 renovation including exterior refinishing as well as modernization of the interior common areas, creating a clean, updated appearance while maintaining its classic mid century character and solid construction. The two adjacent buildings sit on approximately 1.5 acres and span the full block between Lewis Street and Nugent Street with frontage on three sides, providing excellent visibility, signage opportunities, and convenient access. The property offers efficient and flexible floor plans configured primarily for smaller office suites, allowing for broad tenant demand and easy leasing. Current shorter term and staggered lease structures provide stable in place income while creating near term mark to market opportunities for a new owner to increase rental rates and improve cash flow. The layout also allows for partial or near to full owner occupancy, making the asset attractive to both investors and businesses seeking their own office presence. Parking is a key stand out for the property. In addition to a large on site lot adjacent to the building, the sale includes an additional paved lot of approximately 0.5 acres directly across North Thompson Street from the main entrance. This amount of parking is rare and highly desirable in a downtown setting and provides a competitive advantage over surrounding properties. With strong visibility, flexible suite sizes, abundant parking, and a prime downtown location, the property offers a compelling value add or owner user opportunity in one of the fastest growing submarkets in the North Houston region.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

R&D, Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

-

APN/PARCEL ID

2191-00-00100

ASK ABOUT THIS PROPERTY

Barkley DomineyPromed Realty ServicesMore Info
936-524-7328

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Barkley DomineyPromed Realty ServicesMore Info
936-524-7328

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