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Pearland, TX

8611 Industrial Drive

Address:
8611 Industrial Drive, Pearland, TX 77584
Property Type:
Vacant
Price:
$850,000
Cap Rate:
10.07% cap
NOI:
$85,584
Square Feet:
10,070 sqft
Lot Size:
2.54 acres
Price Per Square Foot:
$84.41
Year Built:
1982
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Investment Highlights

Investment Highlights

Investment Highlights

  • Conveniently Located on Industrial Drive Next to South Main Street
  • 2.54 Acres of Stabilized Land for Outside Storage
  • Two Total Drive in Doors (12’w x 14’h)
  • 4.4% Vacancy Rate Despite Pandemic and Oil and Gas Crisis Within Submarket
  • Supply and Demand Have Moved in Lockstep, Therefore Landlords Have Experienced Positive Rental Growth Since 2010
  • As Suburban South Houston Grows, so Should Industrial Demand for E-Commerce and Distribution Spaces

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8611 Industrial Drive in Pearland, Texas. The subject property consists of approximately 10,070 square feet of space and is situated on 2.54 acres of land. The asset features two grade-level doors, 20 parking spaces, and stabilized land for outside storage. Conveniently located on Industrial Drive next to South Main Street, the subject property lies within a submarket with 4.4 percent vacancy. Despite the health pandemic and the oil and gas crisis, supply and demand have moved in lockstep, with landlords experiencing positive rental growth since 2010. As suburban South Houston grows, so should demand for e-commerce and distribution spaces.

Stretching from the South Loop to the Gulf of Mexico, the South Highway 35 Submarket encompasses one of the metro’s largest geographic areas. This large geographic span also means that with 40 million square feet of industrial stock, the submarket has the third-largest industrial inventory in the metro. More than three million square feet has delivered since 2010, which ranks the submarket in the top 10 for deliveries in that time frame. The trajectory of the local economy and its commercial real estate sector will depend on how widely coronavirus spreads, and how long containment policies like social distancing need to be maintained. Yet, the South Highway 35 Submarket continues to exhibit strong tenant demand. (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: ZAB0060460)