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Kluge Lakes Center 13615 Kluge Rd 13,500 SF 100% Leased Office Building Cypress, TX 77429 $3,054,000 ($226.22/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- PHASE II VALUE-ADD DEVELOPMENT OPPORTUNITY
- DENSE RESIDENTIAL NODE
- HIGHLY DESIRABLE TRADE AREA WITH STRONG DEMOGRAPHICS
- STRONG INTERNET RESISTANT TENANT MIX
EXECUTIVE SUMMARY
Kluge Lakes Center is a 100% leased multi-tenant investment opportunity located at the northeast quadrant of Kluge Rd & Huffmeister Rd in Cypress, TX (Houston MSA). The center is comprised of an internet resistant tenant mix providing service and fitness offerings to the immediate and surrounding areas. Additionally, there is a potential Phase II development opportunity with the additional land included in the sale to add approximately ±8,000- 9,000 SF to increase the GLA. Reposition on-site detention to accommodate for additional parking requirement if additional square footage is added
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
13,500 SF
Building Class
B
Year Built
2015
Price
$3,054,000
Price Per SF
$226.22
Cap Rate
7%
NOI
$213,780
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
13,500 SF
Building FAR
0.16
Lot Size
1.97 AC
Zoning
F1
Parking
49 Spaces (3.63 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Conferencing Facility
- Courtyard
- Signage
- Kitchen
- Central Heating
- High Ceilings
- Natural Light
- Reception
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 1366070010001 | Improvements Assessment | $1,830,363 |
| Land Assessment | $137,362 | Total Assessment | $1,967,725 |
PROPERTY TAXES
Parcel Number
1366070010001
Land Assessment
$137,362
Improvements Assessment
$1,830,363
Total Assessment
$1,967,725
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Kluge Lakes Center | 13615 Kluge Rd
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