26310 Oak Ridge Dr
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26310 Oak Ridge Dr
18,000 SF 89% Leased Office Building Spring, TX 77380 $7,897,395 CAD ($438.74 CAD/SF) 5.15% Cap Rate
INVESTMENT HIGHLIGHTS
- 26310 Oak Ridge Drive is 21,320-sq-ft, two-story office building built in 2014 with a modern aesthetic in flourishing Spring, Texas.
- Situated off Interstate 45 between Spring and The Woodlands, 15 minutes from George Bush Airport and 30 minutes from Downtown Houston.
- Number of households within a 5-mile radius grew 28.6% from 2010 to 2023 and is projected to rise another 7.5% from 2023 to 2028.
- Almost fully leased to an eclectic array of over 40 tenants with typical footprints for small- to medium-sized companies.
- Superior amenity access, within 10 minutes of The Woodlands Mall, Market Street, H-E-B, Fitness Connection, and a plethora of restaurants.
- Average office rents in The Woodlands / Spring submarket are typically $3.25 per square foot more than average rates for the entire Houston metro.
EXECUTIVE SUMMARY
Capitalize on the swell of professionals and organizations moving to The Woodlands / Spring submarket with this unique, decidedly located office, 26310 Oak Ridge Drive. The total building size is 21,320 square feet.
This modernist two-story office building features spaces designed for small- to medium-sized companies adorned with high-end finishes in the lobby and common areas. The rentable office space is 1office. 18,000 square feet and is nearly at full occupancy, with approximately 2000 square feet occupied by the owner and only 1 vacant and ready for lease-up. Any vacancies will be easy to fill — Spring and The Woodlands is one of the hottest areas for affluent workers, with an average household income of $125,995 per year within a 5-mile radius. This immense demand is apparent via the submarket’s vacancy rate, which is 5.6% less than the entire Houston metro’s average as of Q4 2023.
Situated just off Interstate 45 midway between Spring and The Woodlands, 26310 Oak Ridge Drive is amid some of the most exciting moves in the Houston region. ExxonMobil is opening its highly anticipated Spring campus, and Hewlett Packard relocated its 440,000-square-foot headquarters to the submarket in 2022, among a slew of other high-profile announcements. Companies seek space here due to a wealth of accessible amenities, a high quality of life, and a well-educated workforce. The Woodlands was recently named the Number 1 place to buy a home in 2023 by Niche, and more than 60% of residents hold a bachelor’s degree or higher. Teams will have everything they need within minutes of the office, with The Woodlands Mall, Market Street, multiple fitness centers, and dozens of restaurants no more than 2 miles away.
The Woodlands, TX has been Named #1 by Niche.com as The Best City in The United States to Buy a Home for
the Second Consecutive Year.
The Woodlands placed #2 in Ranking by Niche.com as the Best City to Live in the United States and #2 as Best City
to Raise a Family This Year and Has Been in the Top 5 over the past several years. The Woodlands Earned an
A+ Grade for its Public Schools, Job Opportunities and Family-Friendly Environment.
This modernist two-story office building features spaces designed for small- to medium-sized companies adorned with high-end finishes in the lobby and common areas. The rentable office space is 1office. 18,000 square feet and is nearly at full occupancy, with approximately 2000 square feet occupied by the owner and only 1 vacant and ready for lease-up. Any vacancies will be easy to fill — Spring and The Woodlands is one of the hottest areas for affluent workers, with an average household income of $125,995 per year within a 5-mile radius. This immense demand is apparent via the submarket’s vacancy rate, which is 5.6% less than the entire Houston metro’s average as of Q4 2023.
Situated just off Interstate 45 midway between Spring and The Woodlands, 26310 Oak Ridge Drive is amid some of the most exciting moves in the Houston region. ExxonMobil is opening its highly anticipated Spring campus, and Hewlett Packard relocated its 440,000-square-foot headquarters to the submarket in 2022, among a slew of other high-profile announcements. Companies seek space here due to a wealth of accessible amenities, a high quality of life, and a well-educated workforce. The Woodlands was recently named the Number 1 place to buy a home in 2023 by Niche, and more than 60% of residents hold a bachelor’s degree or higher. Teams will have everything they need within minutes of the office, with The Woodlands Mall, Market Street, multiple fitness centers, and dozens of restaurants no more than 2 miles away.
The Woodlands, TX has been Named #1 by Niche.com as The Best City in The United States to Buy a Home for
the Second Consecutive Year.
The Woodlands placed #2 in Ranking by Niche.com as the Best City to Live in the United States and #2 as Best City
to Raise a Family This Year and Has Been in the Top 5 over the past several years. The Woodlands Earned an
A+ Grade for its Public Schools, Job Opportunities and Family-Friendly Environment.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
18,000 SF
Building Class
B
Year Built
2014
Price
$7,897,395 CAD
Price Per SF
$438.74 CAD
Cap Rate
5.15%
NOI
$406,420 CAD
Percent Leased
89%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,660 SF
Building FAR
0.38
Lot Size
1.08 AC
Zoning
Unrestricted
Parking
61 Spaces (3.39 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Conferencing Facility
- Food Court
- Property Manager on Site
- Security System
- Kitchen
- Accent Lighting
- Reception
- Central Heating
- Fully Carpeted
- High Ceilings
- Direct Elevator Exposure
- Natural Light
- Partitioned Offices
- Plug & Play
- Recessed Lighting
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 7640-01-10700 | Improvements Assessment | $2,480,343 CAD |
| Land Assessment | $808,649 CAD | Total Assessment | $3,288,993 CAD |
PROPERTY TAXES
Parcel Number
7640-01-10700
Land Assessment
$808,649 CAD
Improvements Assessment
$2,480,343 CAD
Total Assessment
$3,288,993 CAD
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