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Houston, TX

1360 Hugh Road

Address:
1360 Hugh Road, Houston, TX 77067
Property Type:
Sale Leaseback
Price:
$875,000
Cap Rate:
9.50% cap
NOI:
$83,124
Square Feet:
9,250 sqft
Lot Size:
8.21 acres
Price Per Square Foot:
$94.59
Year Built:
1967
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Investment Highlights

Investment Highlights

Investment Highlights

  • Property is Conveniently Located Near Spears Road and Easily Accessible to Interstate-45
  • 3-Year Leaseback in Place with Antex Roofing Company, Incorporated., has been in Business Over 40 Years with Major Clients Like Academy Sports and Outdoors
  • Real Estate is Sitting On 8.21 Acres of Raw Land, Prime for Future Development Opportunities in Such a Booming Area
  • This Submarket Has Been One of The Main Beneficiaries of Outward Population Growth in Houston This Cycle
  • Area is Currently Experiencing a Boom In Industrial Growth, Resulting in A Desire For Future Industrial Development Opportunities
  • Instant Cash Flow for Investor Through 3-Year Leaseback, While Providing Ample Time to Re-Lease Once Antex Roofing Tenant Vacates

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1360 Hugh Road in Houston, Texas, leased to Antex Roofing Company. The subject property consists of approximately 9,250 square feet of space and is situated on 8.21 acres of land. The asset features 2,710 square feet of office space, one grade-level door, and metal warehouse space. There is a 3-year leaseback in place with Antex Roofing Company, Inc., providing instant cash flow for an investor and ample time to re-lease once the tenant vacates. Antex Roofing, Inc. has been in business for over 40 years and is part of the Roofing, Siding, & Sheet Metal Contractors Industry. The subject property also provides an opportunity for investors with over eight acres of land for future development, in addition to it being in a submarket that is experiencing significant industrial growth. The property is conveniently located near Spears Road and Interstate 45.

The North Freeway/Tomball Parkway submarket recently experienced one of the largest supply waves in the Houston area. As the submarket continues to work through that new supply, vacancies remain elevated. However, the coronavirus pandemic and lower oil prices are causing significant economic disruption in north Houston, even as industrial has fared better than other property types. The North Freeway/Tomball Parkway submarket has been one of the main beneficiaries of outward population growth in Houston since 2010. The submarket ranks in the top 10 among Houston-area submarkets for the amount of new supply added since 2010, and supply-side pressure has led to an increasing vacancy rate. (CoStar)

As the fifth most populous metro area in the U.S., Houston houses nearly 6.9 million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houston’s economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houston’s population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.

 

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0040530)