26310 Oak Ridge Dr - Medical FOR SALE


Spring, TX 77380
$5,500,000 USD
346-214-3633
26310 Oak Ridge Dr, Spring, TX for Sale
$5,500,000 USD
Medical - FOR SALE
1/16
null | 5.15% Cap Rate

26310 Oak Ridge Dr
Spring, TX 77380


HIGHLIGHTS

  • 26310 Oak Ridge Drive is 21,320-sq-ft, two-story office building built in 2014 with a modern aesthetic in flourishing Spring, Texas.
  • Almost fully leased to an eclectic array of over 40 tenants with typical footprints for small- to medium-sized companies.
  • Situated off Interstate 45 between Spring and The Woodlands, 15 minutes from George Bush Airport and 30 minutes from Downtown Houston.
  • Superior amenity access, within 10 minutes of The Woodlands Mall, Market Street, H-E-B, Fitness Connection, and a plethora of restaurants.
  • Number of households within a 5-mile radius grew 28.6% from 2010 to 2023 and is projected to rise another 7.5% from 2023 to 2028.
  • Average office rents in The Woodlands / Spring submarket are typically $3.25 per square foot more than average rates for the entire Houston metro.

OVERVIEW

Capitalize on the swell of professionals and organizations moving to The Woodlands / Spring submarket with this unique, decidedly located office, 26310 Oak Ridge Drive. The total building size is 21,320 square feet. This modernist two-story office building features spaces designed for small- to medium-sized companies adorned with high-end finishes in the lobby and common areas. The rentable office space is 1office. 18,000 square feet and is nearly at full occupancy, with approximately 2000 square feet occupied by the owner and only 1 vacant and ready for lease-up. Any vacancies will be easy to fill — Spring and The Woodlands is one of the hottest areas for affluent workers, with an average household income of $125,995 per year within a 5-mile radius. This immense demand is apparent via the submarket’s vacancy rate, which is 5.6% less than the entire Houston metro’s average as of Q4 2023. Situated just off Interstate 45 midway between Spring and The Woodlands, 26310 Oak Ridge Drive is amid some of the most exciting moves in the Houston region. ExxonMobil is opening its highly anticipated Spring campus, and Hewlett Packard relocated its 440,000-square-foot headquarters to the submarket in 2022, among a slew of other high-profile announcements. Companies seek space here due to a wealth of accessible amenities, a high quality of life, and a well-educated workforce. The Woodlands was recently named the Number 1 place to buy a home in 2023 by Niche, and more than 60% of residents hold a bachelor’s degree or higher. Teams will have everything they need within minutes of the office, with The Woodlands Mall, Market Street, multiple fitness centers, and dozens of restaurants no more than 2 miles away. The Woodlands, TX has been Named #1 by Niche.com as The Best City in The United States to Buy a Home for the Second Consecutive Year. The Woodlands placed #2 in Ranking by Niche.com as the Best City to Live in the United States and #2 as Best City to Raise a Family This Year and Has Been in the Top 5 over the past several years. The Woodlands Earned an A+ Grade for its Public Schools, Job Opportunities and Family-Friendly Environment.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$306 USD /SF

CAP RATE

5.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

61

LAND DETAILS

LAND ACRES

1.08 AC

LAND SF

47,045 SF

ZONING

Unrestricted

APN/PARCEL ID

7640-01-10700

ASK ABOUT THIS PROPERTY

Bill SmitheXp RealtyMore Info
346-214-3633

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Bill SmitheXp RealtyMore Info
346-214-3633

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