238 Memory Ln
238 Memory Ln, Houston, TX 77037
$2,750,000
Date listed: August 26, 2024
- Property type
- Industrial
- Subtype
- Distribution, Flex, Warehouse
- Lot Size (acres)
- 2.34
- Class
- C
- Lease Type
- Modified
- Tenancy
- Multi
- Number of Tenants
- 2
- Lease Expiration
- 06/30/2025
- Square Footage
- 25,864
- Net Rentable (sq ft)
- 25,864
- Pro-Forma Cap Rate
- 7.40%
- Occupancy
- 35%
- Units
- 7
- Year Built
- 2000-2005
- Buildings
- 2
- Stories
- 1
- Zoning
- No Zoning
- Parking (spaces)
- 16
- Broker Co-Op
- Yes
- APN
- 0963390000001; 0452020010035; 0452020010359; 0963390000003
- Lease Options
- N/A
- Ground Lease
- No
- Loading Docks
- 1
- Ceiling Height
- 18 Ft
Property description
PRICE REDUCED, NOW LISTED AT $2,750,000
OWNER FINANCING AVAILABLE
25,864 SF of improvement between 2 industrial buildings on 1.33 acres and an additional undeveloped 1.1-acre lot that the seller is in the process of stabilizing.
Outside of Houston City limits.
Improvement 1: 15,064 Sq Ft with 3 units, drive-in door on each unit, 18’ clear height, 3-phase power.
Improvement 2: 10,800 Sq Ft with 4 units, drive-in door on each unit, 18’ clear height, single phase power.
Available dock-high and grade-level loading.
234A-238 Memory Ln, Houston, TX 77037, is a well-positioned asset in a thriving area of Houston. This property offers substantial potential for both investors and businesses looking to establish a presence in one of Texas’ most dynamic markets. The property is well located with easy access to I-45, a major Interstate Highway, and Beltway 8.
Whether for immediate use, leasing, or future redevelopment, this property offers significant potential for growth and return on investment.
Property highlights
- —25,864 SF building area on 1.33 acres.
- —Currently leased 35%
- —Multiple Units with Drive in Doors, High Ceilings 18 ft Clear Hight , 3-Phase and 1-Phase Power, Loading Dock.
- —Additional undeveloped 1.1 acre lot.
- —Strategic point within the city, designated for convenient access from various points throughout the urban area.
- —Close Proximity to Interstate 45, and Texas State Highway Beltway 8, two major highways.
- —Within +/—18.8 miles from Port Houston, +/—12.5 miles from George Bush Intercontinental Airport, and +/—11.6 miles from Houston Downtown.
- —Ample Acreage for Additional Development or Business Use.
- —Outside of the 100-year Flood Plain.
Location
Carlos Iglesias
Commercial Real Estate Broker
License: TX 519499
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