Marcus & Millichap is pleased to present the opportunity to acquire the property located at 300 Pasadena Freeway in Pasadena, Texas. The subject property consists of approximately 2,436 square feet of industrial space and is situated on 0.11 acres of land. The single-tenant asset features metal construction, one drive-in door, and four parking spaces. With frontage along Pasadena Freeway, the property has high visibility to over 95,000 vehicles a day on average that pass by (Texas Department of Transportation). With proximity to other major thoroughfares such as Interstate 610 (“The Loop”) and Beltway 8 (Sam Houston Parkway), the property is ideal for distribution with easy access to the Port of Houston. For sale as vacant, the property offers buyers an owner-user or lease-up investment opportunity. During Hurricane Harvey, the property did not flood, showing minimal environmental risk for buyers. Located within an opportunity zone, this sale also offers tax benefits to buyers.
The subject property is located in East-Southeast Far, one of the largest submarkets in the U.S. with 117.2 million square feet of industrial space. The submarket is home to the Port of Houston, the nation’s leading port for waterborne tonnage. In 2024, East-Southeast Far experienced 3.6 million square feet of net absorption but was outpaced by 5.6 million square feet of net deliveries. As a result, the vacancy rate in East-Southeast Far increased by 120 basis points to 9.5 percent. However, comparable industrial properties under 10,000 square feet still enjoyed a low vacancy rate of 4.9 percent. The increase in availability across East-Southeast Far put downward pressure on rents as the annual growth rate decelerated from 5.2 percent to 1.3 percent, pushing the average market rent to $8.90 per square foot. With 3.1 million square feet under construction in the East-Southeast Far submarket during Q1 2025, representing 2.6 percent of inventory, the impact of new supply on rents and vacancies will likely diminish in the near term (CoStar).
As the fifth most populous metro area in the U.S., Houston houses over seven 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. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0040139)
