Historical Office Sale Listing - Oak Bend Professional Building

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Oak Bend Professional Building

1601 Main Street, Richmond, TX 77469

N/A

77,885 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
77,885 SF
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Investment
Commission Split:
6%
Cap Rate:
8%
Occupancy:
83%
Tenancy:
Multiple
Listing ID
15583962
Last Updated
over 1 year ago

Description

The subject property is a six-story plus basement, pre-cast concrete and steel frame medical office building containing approximately 75,000 square feet constructed in 1975 on the Oak Bend Hospital (previously Polly Ryan) campus in Richmond, Texas. The building had an $800,000 rennovation in 2006 and is 87% occupied with doctors and professional medical. The building is connected to the hospital by a common corridor, and is also connected to the newly completed M. D. Anderson Cancer Treatment Center between the subject property and the hospital. The property is located in Fort Bend County, one of the fastest growing counties in the Country over the last 25 years. The building is being sold on the current in place income at a 7.5% cap at 78% occupancy rate.

The Oak Bend Medical Office Building is located in Richmond, Texas, approximately 8 miles from Sugar Land, Texas and approximately 15 miles from Beltway 8 in Houston, at the corner of Highway 90 and George Ln./Collins Rd.

Map of 1601 Main Street, Richmond, TX 77469 (Fort Bend County)

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