The Atrium 6776 Southwest Fwy
78,840 SF 87% Leased Office Building Houston, TX 77074 For Sale
INVESTMENT HIGHLIGHTS
- Income Potential: With rents below market rates, there's significant potential to increase rental income.
- 1031 Exchange Opportunity: The building presents a compelling opportunity for a 1031 exchange.
- High Visibility: Next to a major highway, this building ensures easy access and great exposure for businesses that need thier own company sign.
EXECUTIVE SUMMARY
Excited to present a unique opportunity to acquire a prime commercial building with unparalleled visibility. This property, strategically located near a major highway, offers excellent exposure and branding potential for the future owner.
This property presents a significant value-add opportunity, with current rents well below the sub-market average. The building is 87% occupied, with an average rent of $9 PSF Gross, compared to the market rate of $16-$18 PSF plus a share of electricity. Additionally, the 11,000 square feet of vacant space, currently used for storage and not listed on any platform, could generate an extra $100,000 in Net Operating Income (NOI). This is an excellent opportunity for both owner-occupiers and investors to maximize the property's potential.
The Hilton hotel next door was recently sold to an investor and there are plans for a new Condominium/Office project. Also, a Brand new condominium belonging to Attorney General child support services was built in 2023 directly behind the building which only makes the land value appreciate. There is significant potential to increase rental income to over $1 million, comparable to similar properties such as 6420 Richmond Atrium /
2323 South Voss Atrium.
This property presents a significant value-add opportunity, with current rents well below the sub-market average. The building is 87% occupied, with an average rent of $9 PSF Gross, compared to the market rate of $16-$18 PSF plus a share of electricity. Additionally, the 11,000 square feet of vacant space, currently used for storage and not listed on any platform, could generate an extra $100,000 in Net Operating Income (NOI). This is an excellent opportunity for both owner-occupiers and investors to maximize the property's potential.
The Hilton hotel next door was recently sold to an investor and there are plans for a new Condominium/Office project. Also, a Brand new condominium belonging to Attorney General child support services was built in 2023 directly behind the building which only makes the land value appreciate. There is significant potential to increase rental income to over $1 million, comparable to similar properties such as 6420 Richmond Atrium /
2323 South Voss Atrium.
DATA ROOM Click Here to Access
- Market Information
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
78,840 SF
Building Class
B
Year Built/Renovated
1978/1998
NOI
$367,949
Percent Leased
87%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
13,140 SF
Slab To Slab
11’
Building FAR
0.72
Lot Size
2.51 AC
Zoning
None - No Restrictions! There is additional space in the back of the building for new construction
Parking
241 Spaces (3.06 Spaces per 1,000 SF Leased)
AMENITIES
- Atrium
- Controlled Access
- Food Service
- Property Manager on Site
PROPERTY TAXES
| Parcel Number | 1048490000014 | Total Assessment | $3,784,240 |
| Land Assessment | $2,659,700 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,124,540 | Tax Year | 2023 |
CONTACT
-
Feysal Edris - Edris, llc
