Listed by Matthews
$17,770,448
GSA EPA Laboratory
Details
Property Type Office, Special Purpose
Sub Type Government
Square Footage 41,126
Cap Rate 8.25%
NOI $1,466,062
Occupancy 100%
Tenancy Single
Lease Type Modified
Lease Term 20
Lease Expiration 06/30/2035
Remaining Term 9
Price per SqFt $432
Year Built 1990
Acreage 3.360
Parking Spaces 80 spaces
Parking Per SqFt 1.95
Tenant Credit Credit Rated
Lease Commencement 07/01/2025
Ground Lease No
Ownership Fee Simple
Federal Government-Leased EPA Lab & Office – 8.25% Cap Rate in Houston
Marketing description
Please note that the first 4-years of term are non-cancellable, followed by a 5-year soft term period. During the soft term, there is a roughly $400,000 rent increase that begins during the soft term and will continue each year for the remainder of the lease.
It's also worth noting that there are 35 total labs here. Each lab has air that is pumped directly to and from each lab individually to not corrode any samples inside the facility. There is also a cold-storage room and mobile lab unit on site for the EPA.
Investment highlights
- One of Ten Facilities – This facility serves EPA Region 6, which is based out of Dallas, and represents Oklahoma, Arkansas, Texas, Louisiana, New Mexico, and 66 tribal nations monitoring environmental samples for the public health.
- Energy Capital of the World – Houston is widely considered a major global hub for the energy industry, and is home to over 4,600 energy firms. This is why it is important to enforce environmental laws and monitor the area of the energy-heavy Houston Ship Channel.
- Specialized Laboratory Space – Equipment such as Gas Chromatography, Electron Capture Detectors, Purge-and-Trap organic compound systems, Mercury analyzers, Organic Carbon Analyzers, etc. are found at this location and would be very costly to relocate.
- Maintains Mobile Laboratory Unit – Allows for real time analysis at local public water supplies and assists the Department of Homeland Security in Houston.
- 26 Fortune 500 Companies – From firms like ExxonMobil, Chevron, Phillips 66, ConocoPhillips, and 22 other Fortune 500 companies, Houston has showcased a need for monitoring the energy supply in this area.
- Laboratory Space Need – Over 680,000 square feet of life sciences space is under construction in Houston. The area also boasts over 98% occupancy for existing lab / manufacturing space.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,466,062.00
$122,171.83/mo
Valuation Metrics
0
DSCR
8.25%
Cap Rate
8.25%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
