Listed by Black Label Commercial Group
$13,033,061.54
Border Street Business Park
Details
Property Type Industrial
Sub Type Flex
Square Footage 55,800
Units 6
Cap Rate 6.50%
Occupancy 92.8%
Tenancy Multi
Lease Type NNN
Pro-Forma NOI $851,433
Price per SqFt $234
Buildings 4
Investment Type Stabilized
Industrial | 6.50% CAP | 55,800 SqFt
Marketing description
Border Street Business Park is a multi-tenant industrial/flex park located in Spring, Texas. The property consists of 4 buildings totaling 55,800 square feet with 92.8% occupancy. All leases are Triple Net (NNN), with tenants responsible for taxes, insurance, and maintenance. The park features a diverse mix of tenants including healthcare, fitness, specialty manufacturing, pet services, and education sectors. One vacant 4,000 SF unit in Building A provides immediate value-add upside at ProForma $1.15/PSFM. The property is located in one of the fastest-growing submarkets in Greater Houston with strong demographics and expanding demand for flex/industrial space.
Investment highlights
- 100% NNN Lease Structure - All tenants on triple-net leases — landlord receives net income with zero operating expense exposure for taxes, insurance, or maintenance.
- Staggered Lease Expirations - Lease rollovers spread across 2028–2036, minimizing concentrated vacancy risk and providing consistent, predictable cash flow throughout the hold period.
- Diverse, Creditworthy Tenant Mix - 5 tenants across healthcare, fitness, specialty manufacturing, pet services, and education — providing sector diversification and resilience.
- Immediate Value-Add Upside - One vacant 4,000 SF unit in Building A at ProForma $1.15/PSFM. Leasing this space adds $55,200/yr to NOI, growing value to $12,542,667 at the same cap rate.
- Long-Term Anchor Tenant - Dance Dynamics holds a 120-month lease through 7/31/2036 — the 2025 World Champion studio provides exceptional stability as the park's largest tenant at 18,800 SF.
- Attractive North Houston Location - Located in Spring, TX — one of the fastest-growing submarkets in Greater Houston — with strong demographics and expanding demand for flex/industrial space.
Listing Contacts
Listed by Black Label Commercial Group
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