This property is Off-Market

5005 West 34th Street
Houston, TX 77092 ·

49,577 SF · Office For Sale

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Kingswood Business Center

Price N/A Cap Rate 11.03%
Building Size 49,577 SF Building Class C
Property Type Office Tenancy Multiple
Property Sub-type Office Building Year Built 1981
Property Use Type Investment Lot Size 1.15 AC
Listing ID: 17301308 Date Created: 08/22/2011 Last Updated: 10/31/2013

Description

5005 West 34th Street is a 48,000 square foot multi-tenant office building priced at a 11.03% CAP on Current Income. At $2,825,000, the property is priced at $57 per square foot, which is well below replacement cost. With conservative financing of 75% Loan to Value, the property will yield a 20.62% cash-on-cash return and a total return of 26.11%.

Within the last three years the landlord has replaced the roof, all the carpet in the building, painted the building, and in August 2011 completed an installation of a new elevator with a warranty.

West 34th Office Building is strategically located at 5005 West 34th Street, only half a mile from U.S. Highway 290, one and a half miles from Loop 610, three miles from Interstate 10, and six miles from Beltway 8. It offers tenants access to the Galleria, Downtown, and Northwest Houston within minutes of the property and will be a valuable location for years to come.

Highlights

  • 11.03% CAP on Current Income at List Price
  • Actual 5% Vacancy
  • Below Replacement Cost $57 Per Square Foot
  • 20.65% Cash-On-Cash Return at List Price
  • New Roof and New Elevator

Research

5005 West 34th Street, Houston, TX 77092 (Harris County)

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