211 Highland Cross Dr - Office FOR SALE


Houston, TX 77073
$2,995,000 USD
713-927-4546
211 Highland Cross Dr, Houston, TX for Sale
$2,995,000 USD
Office - FOR SALE
1/7
null | Request Cap Rate

211 Highland Cross Dr
Houston, TX 77073


HIGHLIGHTS

  • Ideal Owner-Occupier or Value-Add Investor Opportunity
  • ±13,900 RSF Newly Built-out Suite
  • Sunlit Two-Story Interior Atrium
  • Fenced Parking Providing an Abundant Surface Lot Including Covered (27 Spaces) and a Parking Ratio of 4/1,000 RSF
  • Electric Car Charging Station
  • Card-Key Access for Secure After Hour Access

OVERVIEW

Marcus & Millichap is pleased to offer for sale a fee simple interest in 211 Highland Cross Drive, a two-story, ±55,430 rentable square-foot, multi-tenant office building located in North Houston’s office submarket. The desirable location is only a block from I-45 North. Combined with the building’s striking silver glass curtain wall makes this location one of the area’s most recognizable boutique office buildings. Such coupled with being only a block north of Cypress Creek Parkway provides an occupant immediate access to all parts of Houston and The Woodlands. The Class B office building is located along the Cypress Creek Parkway Corridor aka FM 1960, which connects those traveling between I-45 North and Highway 249 to the West. The existing Class A & B office inventory in this office submarket totals approximately 2.8 MM square feet out of the 9 MM total office inventory for this submarket. With Class A & B occupancies totaling approximately 72 percent in this submarket, the asset is one of few “go-to” options available for tenants seeking a quality office location with immediate freeway access. Therefore, due to the strength of this office submarket and the building’s location, this turnaround opportunity is in a prime position for an investor. Alternatively, the building provides a company looking for a headquarters location a place to call home. Constructed in 1980, the building sits on a ±2.58-acre lot with ample surface and limited covered parking. Currently, the building has an occupancy of 61.3 percent yet offers an investor tremendous upside to refill occupancy for professional firms looking to relocate and call 211 Highland Drive home. (Please note a MTM tenant and the Seller shall vacate [date TBD] following a successful closing leaving the building with one (1) tenant who occupies ±11 percent of the building.) Numerous restaurant options are only blocks away and include such favorites as Chili’s Grill & Bar, IHOP, Wingstop, Chick-fil-A, Raising Cane’s, Texas Roadhouse, and Starbucks. Kroger, Planet Fitness, and HCA Houston Healthcare Northwest Hospital.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$54 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

166

LAND DETAILS

LAND ACRES

2.58 AC

LAND SF

112,385 SF

ZONING

None

APN/PARCEL ID

1145810000001

ASK ABOUT THIS PROPERTY

Keith LloydMarcus & MillichapMore Info
713-927-4546

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Keith LloydMarcus & MillichapMore Info
713-927-4546

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