Barkers Point Plaza 16000 Barkers Point Ln

With a price reduction from $5,250,000 to $4,950,000, Barkers Point Plaza , a value-add boutique office building located at 16000 Barkers Point Lane, is strategically located only one block north of the intersection of Memorial Drive and Addicks Howell Road. Additionally, the site sits near the intersection of a major North/South artery, Highway 6 South, and Memorial Drive in West Houston. Additionally, being only a few blocks south of Interstate 10 West, a major East/West Houston Interstate that bisects the Greater Houston MSA, allows tenants direct access to Houston’s freeway system connecting to all parts of Houston.
The wooded and well-manicured grounds provide tenants with a tranquil setting for the 41,607 RSF office building. The building includes a two-story well appointed atrium lobby with ample outdoor lighting penetrating the lobby. There are two wings off this main lobby that also includes entrances on either side. The offering offers an investor or owner/occupier an outstanding location to run its operations.
The L-shaped property, totaling approximately 2.12 acres, offers three (3) ingress/egress points; one on Barkers Point Lane and two on Addicks Howell Road. The Barkers Point entry offers tenant monument signage. Additionally, for tenants’ convenience, the property includes fifty-two (52) reserved covered parking spaces located on both sides of the building.
Barkers Point Plaza is a proven location for small tenants affording investors protection of their return due to no substantial income loss by one large tenant vacating. Occupancy (23 tenants whose average size is only +/- 1,300 RSF) has averaged almost 93 percent since the end of 2018 through year end 2023 versus the Katy Freeway Energy Corridor that has averaged an occupancy rate over the same period between 75 percent – 80 percent according to
CoStar.
Notwithstanding the recent drop in occupancy in 2024 to a low of 71.8 percent, the same ownership for the last 25 years has continually
outperformed the office market due to a hands-on approach to leasing and managing the Property. Furthermore, due to the quality of the asset, ownership has been able to obtain rents +/-20 percent higher than some of its surrounding competition.
The complex has been owned by the same family for almost 25 years whose philosophy is to maintain their real estate as if they were tenants in the building. Significant capital improvements have been made by ownership including installing an updated fire alarm system, constructing reserved carport parking, new sidewalks, HVAC replacement, updated restrooms, EMS controls for the HVAC system, modernization of the two-story lobby and common hallways on both floors, and a roof replacement to name a few.
Numerous Restaurant Options are only blocks away and include such favorites as Lupe Tortilla, Lomontes Italian Restaurant and Bar, Salata Salad, Ginger Thai Cuisine, and Starbucks.
Today, Barkers Point Plaza is a unique opportunity for a value-add investor to acquire ownership in a proven office performer. Even at the current occupancy, there is a strong positive cash flow and financing should be easily obtainable.