2222 Bay Area BlvdHouston, TX 77058

Property Details for 2222 Bay Area Blvd

Year built

1979

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.04 AC

Property size (Sq ft)

69,852 SF

Property type

Office buildings

APN

986480000010

APU

986480000010

Description

This exceptional investment-grade office property, located at 2222 Bay Area Blvd in Houston, Texas, presents a compelling opportunity. The 65,818 square foot, Class B building, constructed in 1979, sits on a generous 4.04-acre lot and features two stories. The property is currently multi-tenant, offering immediate upside potential through the lease-up of several existing vacant spaces requiring minimal renovation. This presents a significant advantage for investors seeking a quick return on investment. The building's strategic location within an attractive Houston office submarket makes it ideally suited for a single corporate user or a multi-tenant corporate campus. The property offers ample parking, providing 3.9 spaces per 1,000 square feet. The building's current stabilized occupancy, coupled with the potential for increased rental income, makes this a truly attractive investment opportunity, offering a considerable discount compared to the cost of new construction. The property is situated in Harris County, Texas, with a zip code of 77058. This is a rare chance to acquire a well-located, multi-tenant office building with significant upside potential in a thriving market. The property's size, location, and existing infrastructure make it a highly desirable asset for both investors and corporate users.

• CAP approach

  CAP return

  Valuation

  6%

  $14,305,806

  6.5%

  $13,205,359

  7%

  $12,262,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,324,774

  Geo Method

  $20,912,990

• Alternative Use

  Use

  Valuation

  Residential

  $16,374,645

  Hospitality

  $14,999,087

  Educational

  $12,479,064

  Medical

  $12,908,238

  Retail

  $19,411,878

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.57

Longitude

-95.1097

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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