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702 N Thompson St 17,041 SF 70% Leased Office Building Conroe, TX 77301 $2,700,000 ($158.44/SF)

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Investment Highlights

Prime downtown Conroe location just two blocks from the Montgomery County Courthouse and surrounding government and professional offices.
Rare ample parking plus an additional 0.5 acre paved lot across the street, a rare and highly desirable feature for downtown properties.
Extensive 2024 renovation to exterior and interior areas of the property.

Approximately 17,000 square feet of brick and steel frame office improvements on 1.5 acres spanning a full city block with three street frontage.
Flexible lease terms provide stable income with near term rent growth potential and flexibility for owner occupancy.
All lease space are fully built out with flexible sizes and layouts to accurate a variety of uses.

Executive Summary

The Thompson, comprised of 702 & 704 North Thompson Street, presents the opportunity to acquire a well located, approximately 17,000 square foot multi tenant professional office property in the heart of downtown Conroe. Positioned just two blocks from the Montgomery County Courthouse and surrounding city offices, the property benefits from consistent demand from legal, governmental, and professional service users seeking proximity to the county seat and downtown business core.
Originally constructed for county administrative use for the county seat of Montgomery County, the property is an impressive brick and steel frame building that has served a wide range of governmental and professional tenants over its history. The original property has been expanded and now comprised of two separate buildings with a shared atrium, and two large parking lots, remains today, an established well known office location within the community. Most recently, the building completed a comprehensive 2024 renovation including exterior refinishing as well as modernization of the interior common areas, creating a clean, updated appearance while maintaining its classic mid century character and solid construction. The two adjacent buildings sit on approximately 1.5 acres and span the full block between Lewis Street and Nugent Street with frontage on three sides, providing excellent visibility, signage opportunities, and convenient access. The property offers efficient and flexible floor plans configured primarily for smaller office suites, allowing for broad tenant demand and easy leasing. Current shorter term and staggered lease structures provide stable in place income while creating near term mark to market opportunities for a new owner to increase rental rates and improve cash flow. The layout also allows for partial or near to full owner occupancy, making the asset attractive to both investors and businesses seeking their own office presence.
Parking is a key stand out for the property. In addition to a large on site lot adjacent to the building, the sale includes an additional paved lot of approximately 0.5 acres directly across North Thompson Street from the main entrance. This amount of parking is rare and highly desirable in a downtown setting and provides a competitive advantage over surrounding properties.
With strong visibility, flexible suite sizes, abundant parking, and a prime downtown location, the property offers a compelling value add or owner user opportunity in one of the fastest growing submarkets in the North Houston region.

Property Facts

Sale Type

Investment or Owner User

Property Type

Office

Building Size

17,041 SF

Building Class

Year Built/Renovated

1960/2024

Price

$2,700,000

Price Per SF

$158.44

Percent Leased

70%

Tenancy

Multiple

Building Height

1 Story

Typical Floor Size

17,041 SF

Building FAR

0.25

Lot Size

1.57 AC

Opportunity Zone

Yes

Parking

68 Spaces (5 Spaces per 1,000 SF Leased)

24 Hour Access
Atrium

Signage
Monument Signage

Outdoor Seating
Air Conditioning

Fiber Optic Internet