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640 S Peek Rd 4,781 SF 100% Leased Office Building Katy, TX 77450 $2,500,000 ($522.90/SF) 6.50% Cap Rate



INVESTMENT HIGHLIGHTS
- 2023 Modern premium office building currently leased at a 6.5% cap rate
EXECUTIVE SUMMARY
2023 Premium office building currently leased on a NNN basis at 6.5% cap rate. This premium office building is all about location and convenience. It is near Katy's booming retail and entertainment area. Close by is the intersection of 99 & I-10, the Costco retail area, Katy's Asia town, Cinco Ranch, Falcon Point and the University of Houston - Katy campus. Restaurant and entertainment options abound within a stones throw. The downstairs of this high end two story office building features six offices, a large conference room with video conference screen, bullpen area, kitchen area, two restrooms and two storage areas each with its own overhead door. The upstairs features a large bull pen area, one office, a restroom and a kitchen area. The building offers a lot of windows making it light, cheery and a great place to work. The foyer of this building is designed for two separate tenants should that be desired. The owner of this building spared no expense in its design.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
4,781 SF
Building Class
B
Year Built
2023
Price
$2,500,000
Price Per SF
$522.90
Cap Rate
6.50%
NOI
$162,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,391 SF
Building FAR
0.37
Lot Size
0.30 AC
AMENITIES
- Conferencing Facility
- Storage Space
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 1275980010010 | Improvements Assessment | $980,048 |
| Land Assessment | $342,447 | Total Assessment | $1,322,495 |
PROPERTY TAXES
Parcel Number
1275980010010
Land Assessment
$342,447
Improvements Assessment
$980,048
Total Assessment
$1,322,495
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640 S Peek Rd
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