7011 Brittmoore Road
- 7011 Brittmoore Road, Houston, TX 77041
- Property Type:
- Multi Tenant
- Cap Rate:
- 8.60% cap
- Square Feet:
- 16,135 sqft
- Lot Size:
- 1 acre
- Price Per Square Foot:
- Year Built:
• Property is Accessible to Many Major Highways, Including 290 and Beltway 8
• West Outer Loop Submarket has Welcomed Deliveries Over the Past Decade
• Demand in Area is Driven by Accessibility to Great Roadways and its Large Population Base
• Building has Six Grade-Level Doors and Three-Phase Power
• Additional Income with Long-Term Cell Phone Tower Lease
• Building is 100% Occupied with Modified Gross Leases in Place
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 7011 Brittmoore Road in Houston, Texas. The subject property consists of approximately 16,135 square feet of warehouse space and is situated on 1 acre of land. The fully occupied asset features six grade-level doors and three-phase power. All lease types are set to modified gross, minimalizing owner operating expenses. With a long-term lease in place, the onsite cell phone tower provides an additional stream of stable income. Located in the West Outer Loop submarket, the property is accessible to multiple major highways, including Highway 290 and Sam Houston Tollway (Beltway 8).
With nearly 30 million square feet of inventory, West Outer Loop is one of Houston’s largest submarkets. Over the past decade, the submarket has welcomed nearly 360,000 square feet of deliveries annually. The current vacancy rate of 6 percent is commensurate with levels seen a decade ago, showing that demand has largely kept pace with supply. Accessible roadways and a large population base have been key factors driving demand and industrial development in recent years. During this time, Houston’s rapid household growth has expanded outward. The corresponding demand for e-commerce has resulted in speculative logistics development, such as the Northwest Logistics Center (CoStar). Local economic activity is expected to continue rebounding along with rising vaccination rates, making this an optimum time to enter the West Outer Loop submarket.
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, and 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.