675 Bering DrHouston, TX 77057

Property Details for 675 Bering Dr

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.00 AC

Property size (Sq ft)

143,889 SF

Property type

Office buildings

APN

681070000048

APU

681070000048

Description

This exceptional investment opportunity presents a Class B, eight-story office building totaling 135,641 square feet situated on a 2-acre lot in Houston's desirable Galleria/Uptown submarket at 675 Bering Drive, zip code 77057. Built in 1982 and renovated in 2009, the property boasts a 76% occupancy rate across its multi-tenant configuration. The building offers modern amenities and flexible floor plans within a well-maintained structure. Ample parking is available, with a ratio of 480 spaces per 1,000 square feet. Located in Harris County, Texas, this asset presents significant upside potential for investors due to the strong market fundamentals and current lease-up opportunity in this thriving area. The property's prime location and attractive risk-adjusted investment profile make it a compelling opportunity for value-add acquisition. This is a single building with eight stories, offering a sophisticated office space in a prestigious submarket. The property's strong market position and current occupancy provide a solid foundation for future growth and return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $29,468,706

  6.5%

  $27,201,882

  7%

  $25,258,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,268,130

  Geo Method

  $43,078,928

• Alternative Use

  Use

  Valuation

  Residential

  $33,730,336

  Hospitality

  $30,896,804

  Educational

  $25,705,778

  Medical

  $26,589,840

  Retail

  $39,986,768

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7614

Longitude

-95.4788

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].