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Value-Add Greenspoint Office Tower w/ Income 397 N Sam Houston Pky E
71,758 SF 35% Leased Office Building Online Auction Sale Houston, TX 77060
Investment Highlights
- This vibrant office tower completed a full renovation in 2020 and is delivered at 35% occupancy, providing a significant value-add opportunity.
- Desirable property features include wall-to-wall windows, remodeled common areas, an on-site Bank of the Ozarks, and a two-level parking garage.
- Nestled just off the intersection of I-45 and Beltway 8 in the coveted Greenspoint commercial hub, near quality amenities and major office tenants.
- Located 20 minutes north of Downtown Houston, the office sits near quality residential neighborhoods, including Champions, Kingwood, & the Woodlands.
Executive Summary
Discover how 397 N Sam Houston Parkway E property features set it apart from the competition. The spacious building, originally built on the 3.06-acre lot in 1979, totals 71,758 square feet. The building completed a full renovation in 2020 and now boasts remodeled common areas and versatile professional office spaces. Large wall-to-wall windows define the building’s modern façade and deliver excellent natural light to all the floors. An on-site Bank of the Ozarks provides convenient banking options for tenants and employees.
Learn more about the building’s exceptional placement, which helps to attract and retain tenants. The location is a commuter’s dream, with easy access to Interstate 45, Beltway 8, the Hardy Toll Road, and the 249 and 290 Highways. Parking is also convenient, with a two-story parking garage and plenty of surface stalls delivering a total parking ratio of 4.00/1,000.
Sitting near the heart of Greenspoint, 397 N Sam Houston Parkway E provides employees with quick access to quality urban amenities. The area has numerous restaurants, retail centers, and major flag hotels. Desirable residential neighborhoods surrounding the property include Kingwood, Champions, and the Woodlands, providing top-tier housing options. The George Bush Intercontinental Airport, reachable in just 15 minutes, supports long-distance travel for employees and visiting clients. Downtown Houston is 20 minutes away, providing additional opportunities for world-class entertainment, sports, and nightlife.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Houston - TX USA
Market Cap Rate
Houston - TX USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Amenities
- 24 Hour Access
- Banking
- Controlled Access
- Conferencing Facility
- Property Manager on Site
- Security System
- Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 110
- 1,000 SF
- Office
- Partial Build-Out
- Now
- 1st Fl-Ste 125
- 1,700 SF
- Office
- -
- Now
- 3rd Fl-Ste 300
- 7,915 SF
- Office
- -
- Now
- 3rd Fl-Ste 325
- 1,800 SF
- Office
- Partial Build-Out
- Now
Suite 400 offers multiple private suites ranging from 120 sq ft - 260 sq ft. with a shared common area. This unit offers a fully built-out standard office layout with an open floor plan, providing flexibility for various business needs. Partially furnished for added convenience, this space is move-in ready and allows for immediate productivity. Take advantage of our limited-time special offer: 1 month of free rent on a 3-year lease term, 3 months free rent on a 5-year lease term, and an extraordinary 6 months of free rent on a 7-year lease term.
- 4th Fl-Ste 415
- 2,611 SF
- Office
- Partial Build-Out
- Now
- 4th Fl-Ste 475C
- 130 SF
- Office
- Partial Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 110 | 1,000 SF | Office | Partial Build-Out | Now |
| 1st Fl-Ste 125 | 1,700 SF | Office | - | Now |
| 3rd Fl-Ste 300 | 7,915 SF | Office | - | Now |
| 3rd Fl-Ste 325 | 1,800 SF | Office | Partial Build-Out | Now |
| 4th Fl-Ste 405 | 1,100 SF | Office | Full Build-Out | Now |
| 4th Fl-Ste 415 | 2,611 SF | Office | Partial Build-Out | Now |
| 4th Fl-Ste 475C | 130 SF | Office | Partial Build-Out | Now |
1st Fl-Ste 110
| Size |
| 1,000 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1st Fl-Ste 125
| Size |
| 1,700 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
3rd Fl-Ste 300
| Size |
| 7,915 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
3rd Fl-Ste 325
| Size |
| 1,800 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste 405
| Size |
| 1,100 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
4th Fl-Ste 415
| Size |
| 2,611 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste 475C
| Size |
| 130 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
4th Fl-Ste 405
| Size | 1,100 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Suite 400 offers multiple private suites ranging from 120 sq ft - 260 sq ft. with a shared common area. This unit offers a fully built-out standard office layout with an open floor plan, providing flexibility for various business needs. Partially furnished for added convenience, this space is move-in ready and allows for immediate productivity. Take advantage of our limited-time special offer: 1 month of free rent on a 3-year lease term, 3 months free rent on a 5-year lease term, and an extraordinary 6 months of free rent on a 7-year lease term.
About Greenspoint/N Belt West
The North Houston District is centrally located along Interstate 45 between Beltway 8 and the Grand Parkway, connecting the area to parts of Houston that have seen significant population and employment growth, including Springwoods Village, Cypress, Tomball, and the Lake Houston Area. It is also close to Houston’s largest airport, Bush Intercontinental.
ExxonMobil recently moved into more than 3 million square feet just minutes north of the area, bringing more than 10,000 employees to the locale. Corporate tenants such as ABS, HPE, and HPI also recently relocated to large new office campuses in Springwoods Village.
Job growth has been robust in this part of Houston also because of developments such as Grocers Supply and Conn’s HomePlus’ distribution centers, as well as Pinto Business Park, which is home to Amazon, Coca-Cola, and other large employers.
Since 2010, more than 80% of the population growth that has occurred in Harris County has been in its unincorporated areas, not far from the North Houston district. The area’s energy, business services, and healthcare tenants draw from the labor pool and customer base of residents and commuters who take Interstate 45 to and from work. High-end office space in North Houston is also more affordable than in nearby areas.
Investors are attracted to this area because of its strong economic base and the relative value assets here provide. Pricing is favorable, too, with the average price per square foot below Houston region’s average and at a discount from neighboring Northwest and Northeast.
DEMOGRAPHICS
Demographics
zoning
| Zoning Code | None |
| None |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,159,345 CAD | |
| Land Assessment | $2,117,045 CAD | Total Assessment | $5,276,391 CAD |
PROPERTY TAXES
Sale Advisors
Sale Advisors
Marc Barber, Co-Founder & Principal
Working in real estate since 2006, Marc Barber has been involved in a wide variety of investment sales, equity/debt placement, and principal ownership. Prior to starting Avid Commercial Real Estate, Marc worked for InCommercial Property Group as Managing Director of Investment, adding over 40 properties to their large portfolio. Marc worked with Stan Johnson Company focusing on net lease investment sales and Palmer Capital, Inc. for focusing on retail, office, and industrial investment sales transactions. Marc has participated in over $2 Billion in transactions in 26 states working on single-tenant to very multi-tenanted properties including ground leases, sale leasebacks, and forward commitments. As a licensed General Appraiser, Marc was engaged in valuations of office, retail, industrial, and apartment properties with a cumulative value over $500 Million.
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Value-Add Greenspoint Office Tower w/ Income | 397 N Sam Houston Pky E
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