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6065 Hillcroft Plaza
Houston, TX 77081 ·

61,851 SF · Office For Sale

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6065 HILLCROFT PLAZA

Price N/A No. Stories 6
Building Size 61,851 SF Building Class B
Property Type Office Tenancy Multiple
Property Sub-type Office Building Year Built 1971
Property Use Type Investment Lot Size 2.18 AC
Cap Rate 10.90% Parking Ratio 3.50 / 1,000 SF
Occupancy 90%
Listing ID: 15766758 Date Created: 06/19/2008 Last Updated: 02/22/2010

Description

Attractive and extremely well maintained six story office building with attractive Cash-on Cash returns and long term stable historical occupancy. Owner will consider providing preferred equity to ensure an 80% loan to value ratio. Hillcroft Plaza is currently 90% leased. Current building rents are $ 2.00 psf below market allowing an investor significant upside.

The building is located in the Southwest Freeway (US-59) Hillcroft business district 8.4 miles southeast of the CBD. Conveniently located within minutes from all major developments in the area, including The Galleria, Sam Houston Tollway, Loop 610 and Uptown Houston.

Highlights

  • 89% Occupancy With Rental Rate Upside
  • 12% COC Return With 6.40% Assumable Loan
  • 8.26% CAP Rate With Renewal Rates
  • Over 90% Avg. Occupancy Prior 5 Years
  • Upside In Rents- Existing Rents $2.00/SF Under Mkt

Research

6065 Hillcroft Plaza, Houston, TX 77081 (Harris County)

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