8821 NORTH SAM HOUSTON PARKWAY EAST (HUMBLE, TX)
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• Recently Renovated 2nd Generation Auto Service Center
• Tight Rental Market: 4.29% Submarket Vacancy Rate In Q1 2020*
• Approximately 170’ Of Beltway 8 Feeder Road Frontage With Frontage Road Curb Cut
• Office Renovations In Excess Of $50,000 Completed In 2019
• Turn Key Facility: Previously Installed Jacks & Lifts Have Been Well Maintained And Allow For Immediate Use of Service Center
• Rapid Growth In Immediate Area: 32.79% Estimated Increase In Population Between 2010-2019 Within 1-Mile Radius
• Traffic Counts In Excess of 145,000 Vehicles Per Day On Beltway 8
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8821 North Sam Houston Parkway E in Humble, Texas. The recently renovated 2nd generation auto service center consists of approximately 5,708 square feet of space and is situated on one acre of land. A turn-key facility, the previously installed jacks and lifts have been well-maintained and allow for immediate use of the service center. In addition, over $50,000 in office renovations were completed in 2019. The subject property is located directly on Beltway 8, with 170’ of frontage and one curb cut. Traffic counts on Beltway 8 are in excess of 145,000 vehicles per day. There has been rapid growth in the immediate area, with a 32.79 percent estimated increase in population between 2010 and 2019 within a one-mile radius of the property, and a tight 4.29 percent submarket vacancy rate in Q1 2020.
Outward expansion is an ongoing trend in Houston this cycle, and the Lake Houston Area has been a prime beneficiary of that growth. Home to Atascocita, Humble, and Summerwood, the submarket has grown significantly in recent years thanks to infrastructural improvements, large-scale developments, and strong population growth. (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.