117-119 WEST PEARCE STREET (BAYTOWN, TX)

117-119 WEST PEARCE STREET, BAYTOWN, TX 77520
Price :$ 1,200,000
Cap Rate :12.50%
NOI :$ 149,977
Lot Size :0.54 acres
Year Built :1928
Property Area :16,920 sqft
Status :AVAILABLE

Investment Highlights

• Close Proximity to Both Highway 146 and Highway 99
• Positioned in a Redeveloped Baytown, Flex Property Sits Right Off Main Street and West Texas Avenue
• Area has Benefited From a Recent Boom in Downstream Petrochemical Products
• Proximity to the Port of Houston (Which is the Busiest Port in the United States Despite Pandemic)
• Rent Growth has Continued to Remain Positive Despite Recent Pandemic
• One-Year Leaseback in Place Perfect for Future User or Investor
• Multi Tenant Flex Property Allows for Use by a Multitude of Different Tenants

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 117-119 West Pearce Street in Baytown, Texas. The subject property consists of approximately 16,920 square feet of space and is situated on 0.54 acres of land. The asset features 9.5’-15’ clear heights, three grade-level doors, and metal construction. This multi-tenant flex property allows for a multitude of different tenants. The owner-user is committed to a one-year sale leaseback, creating an opportunity for a future user or investor. The area has benefited from a recent boom in the downstream of petrochemical products, with rent growth continuing to remain positive despite the recent pandemic. Positioned in redeveloped Baytown, the property sits right off Main Street and West Texas Avenue and is in close proximity to both Highway 146, Highway 99, and the Port of Houston.

The East-Southeast Far Submarket has benefited from a recent $50 billion boom in new downstream petrochemical projects and expansions, which is now coming under pressure. The area’s petrochemical industry relies on third-party warehousing and logistics companies to store and move plastic pellets and other chemicals, which has created a surge in industrial demand in the area. The Port of Houston is a global economic engine. The Houston Ship Channel is home to 330 public and private terminals that are owned by more than 150 companies. One of the world’s busiest waterways, the area constitutes the largest petrochemical complex in the Western Hemisphere and the second-largest in the world after Rotterdam. And the Port of Houston is the nation’s largest net-export port and first in terms of international traffic. (CoStar)

As the fifth most populous metro area in the U.S., Houston houses nearly 6.9 million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houston’s economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houston’s population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.

https://tag-industrial.com/pro....perty/117-119-west-p