Listed by Northmarq Capital, LLC, Northmarq
$3,619,000
Jersey Village Medical Office Building
Details
Property Type Office
Sub Type Medical Office
Square Footage 11,695
Cap Rate 7.5%
NOI $271,400
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10.5
Lease Expiration 08/16/2032
Remaining Term 6.2
Rent Bumps Yes
Lease Options Two 5-Year Options at Fair Market Rent
Price per SqFt $309
Buildings 1
Acreage 0.747
Parking Spaces spaces
Investment Type Net Lease
Lease Commencement 02/18/2022
Occupancy Date 02/18/2022
Ownership 100%
Jersey Village Two-Tenant MOB | Multi-Unit Operator | Excellent Visibility Adjacent
Marketing description
The Jersey Village NNN Medical Office Building is a total of 11,695 SF and consists of 0.747 acres. It has excellent visibility from TX Hwy 290 which has over 193,000 VPD. Nearby is Northwest Village Shopping Center (over 3.5M Visits in the last 12 months), which is anchored by Ross Dress for Less, SPEC’s, Harbor Freight Tools and Dollar Tree.
Investment highlights
- Anchored By Westpark Springs
- Multi-Unit Operator with Strong Financials
- Directly Adjacent to TX Hwy 290
- Highly Affluent Houston Submarket
- Excellent Demographics
- Newer (2019) Institutional Quality Construction
- Texas is an Income Tax-Free State
- 2-Year Guaranty from Seller for Available Space
Listing Contacts
Listed by Northmarq Capital, LLC, Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$271,400.00
$22,616.67/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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