Value-Add | Multi-Tenant Medical Office 17270 Red Oak Dr 48,698 SF 42% Leased Office Building Online Auction Sale Houston, TX 77090
INVESTMENT HIGHLIGHTS
- Value-add medical/office building with upcoming vacancy, allowing for investors or owners/users to poach on a coveted asset.
- Excellent area medical synergy with HCA Houston Healthcare Northwest, Sanavate, Tops Surgical Specialty Hospital, and Red Oak Hospital all nearby.
- Tours by appointment only. Contact Bracket to schedule.
- Connectivity is a breeze as the building is located just northwest of Downtown Houston with speedy access via I-45 and FM 1960.
- Surrounded by a wealth of retailers, including Starbucks, Smoothie King, Kroger, Chick-fil-A, Chase Bank, CVS, and many more.
EXECUTIVE SUMMARY
KSF Orthopaedic Center, located at 17270 Red Oak Drive, is a prime investment in the prestigious Houston, Texas, medical and office market. The two-story, 48,698-square-foot facility features a sleek, modern façade with lush landscaping and building signage potential. Perched on 3.5 acres, the property provides ample and plentiful parking for employees and visitors alike. This asset offers convenience with several covered drop-off spots for patients and covered parking for doctors. Built in 1985, the asset has modern updates throughout and has maintained its upscale appearance. This is an exciting opportunity for both owners/users and investors. At 42% occupancy, this asset provides exceptional value-add optionality. New ownership can utilize the space for their business or alternatively lease out at market rates.
Houston, Texas, is the place to be when it comes to medical investment. Houston is home to the world's largest medical center. The TMC3 project currently under construction is the linchpin in the Texas Medical Center's plan to establish Texas as the Third Coast for commercial life sciences and biotechnology research to compete directly with Cambridge, Massachusetts, and Mission Bay in San Francisco. TMC3 is expected to create 26,000 jobs and generate $5.2 billion in economic benefits in Houston. In addition, there are several million square feet of new life science-oriented mixed-use projects either under construction or planned along a 2-mile stretch of Holcombe Boulevard in the Texas Medical Center.
KSF Orthopaedic Center is strategically positioned within Houston. Just northwest of Downtown Houston, this asset is easily accessible via Interstate 45 and FM 1960. Connectivity is a breeze to nearby neighborhoods like Uptown and Midtown. There is excellent area synergy with hospitals and outpatient offices, including CHA Houston Healthcare Northwest, Sanavate, Red Oak, Millenium Physicians – Oncology, Northwest Pediatric Dental, Houston Cancer Institute PA, Texas Children’s Pediatrics Nanes, and countless others. Additionally, area demographics bode well for investors. The population is expected to grow over the next five years in Northwest Houston as it is home to several prominent neighborhoods. This area attracts residents due to its park-like setting. Spending on healthcare in a 2-mile radius is noteworthy, ringing in at over $21.2 million annually.
For a value-add opportunity, excellent connectivity, and a beautifully maintained asset, look no further than KSF Orthopaedic Center.
Property tours are available on Thursday, March 6th from 10AM-2PM by appointment only. Please contact the listing broker to schedule.
Houston, Texas, is the place to be when it comes to medical investment. Houston is home to the world's largest medical center. The TMC3 project currently under construction is the linchpin in the Texas Medical Center's plan to establish Texas as the Third Coast for commercial life sciences and biotechnology research to compete directly with Cambridge, Massachusetts, and Mission Bay in San Francisco. TMC3 is expected to create 26,000 jobs and generate $5.2 billion in economic benefits in Houston. In addition, there are several million square feet of new life science-oriented mixed-use projects either under construction or planned along a 2-mile stretch of Holcombe Boulevard in the Texas Medical Center.
KSF Orthopaedic Center is strategically positioned within Houston. Just northwest of Downtown Houston, this asset is easily accessible via Interstate 45 and FM 1960. Connectivity is a breeze to nearby neighborhoods like Uptown and Midtown. There is excellent area synergy with hospitals and outpatient offices, including CHA Houston Healthcare Northwest, Sanavate, Red Oak, Millenium Physicians – Oncology, Northwest Pediatric Dental, Houston Cancer Institute PA, Texas Children’s Pediatrics Nanes, and countless others. Additionally, area demographics bode well for investors. The population is expected to grow over the next five years in Northwest Houston as it is home to several prominent neighborhoods. This area attracts residents due to its park-like setting. Spending on healthcare in a 2-mile radius is noteworthy, ringing in at over $21.2 million annually.
For a value-add opportunity, excellent connectivity, and a beautifully maintained asset, look no further than KSF Orthopaedic Center.
Property tours are available on Thursday, March 6th from 10AM-2PM by appointment only. Please contact the listing broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Broker Offering Memorandum
- Operating and Financial
- Purchase Agreement
- Third Party Reports
- Title and Insurance
MARKET ANALYTICS Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
12 Month Sales Volume
Total
Lowest
Highest
Transactions
999
-
-
Sales Volume
$99,999
$99,999
$99,999
Properties Sold
999
-
-
Transacted SF
999
999
999
Average SF
999
999
999
9.9%
Market Cap Rate
9.9%
Market Sale Price/SF Change (YOY)
12 Month Sales Price
Average
Lowest
Highest
Market
Cap Rate
9.9%
9.9%
9.9%
9.9%
Sale Price/SF
$99,999
$99,999
$99,999
$99,999
Sale Price
$99,999
$99,999
-
-
Sale vs Asking Price
-9.9%
-9.9%
-9.9%
-
% Leased at Sale
9.9%
9.9%
9.9%
-
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
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Property Subtype
Medical
Building Size
48,698 SF
Building Class
B
Year Built
1985
Percent Leased
42%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
24,349 SF
Slab to Slab
11 ft
Building FAR
0.32
Lot Size
3.50 AC
Zoning
Commercial - Commercial
Parking
99 Spaces (3.5 Spaces per 1,000 SF Leased)
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Tenant street signage available
Tenant street signage available
Tenant street signage available
Tenant street signage available
Tenant street signage available
Tenant street signage available
Tenant street signage available
Tenant street signage available
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 100 | 3,681 SF | Medical | Full Build-Out | 30 Days |
| 1st Fl-Ste 104 | 6,875 SF | Medical | Full Build-Out | 30 Days |
| 1st Fl-Ste 110 | 1,852 SF | Medical | Full Build-Out | 30 Days |
| 1st Fl-Ste 115 | 1,344 SF | Medical | Full Build-Out | 30 Days |
| 1st Fl-Ste 120 | 1,641 SF | Medical | Full Build-Out | 30 Days |
| 1st Fl-Ste 170 | 2,429 SF | Medical | Full Build-Out | 30 Days |
| 2nd Fl-Ste 205 | 2,495 SF | Medical | Full Build-Out | 30 Days |
| 2nd Fl-Ste 260 | 7,188 SF | Medical | Full Build-Out | 30 Days |
1st Fl-Ste 100
| Size |
| 3,681 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Fl-Ste 104
| Size |
| 6,875 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Fl-Ste 110
| Size |
| 1,852 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Fl-Ste 115
| Size |
| 1,344 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Fl-Ste 120
| Size |
| 1,641 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Fl-Ste 170
| Size |
| 2,429 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
2nd Fl-Ste 205
| Size |
| 2,495 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
2nd Fl-Ste 260
| Size |
| 7,188 SF |
| Space Use |
| Medical |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
ABOUT FM 1960/I-45 NORTH
Cypress Station is located close to parts of Houston that have experienced significant population and employment growth, including Springwoods Village, Cypress, Tomball, and the Lake Houston areas. It is centrally located along Interstate 45 between Beltway 8 and the Grand Parkway, some of Houston’s key arteries. It is also close to Houston’s largest airport, Bush Intercontinental, which recently ranked as the second-best airport in the U.S. at the 2023 Skytrax World Airport Awards.
Job growth has been strong in the area, in part as a result of nearby developments such as Data Foundry’s new data centers; Grocers Supply and Conns HomePlus’ distribution centers; and Pinto Business Park, which is home to Amazon, Coca-Cola, and other large employers. Corporate tenants such as ABS, HPE, and HPI also recently relocated to large new office campuses in Springwoods Village.
Over the past 15 years, more than 80% of the population growth that has occurred in Harris County has been in its unincorporated areas, not far from Cypress Station. And the area’s energy, business services, and healthcare tenants can draw from the labor pool and customer base of residents and commuters who take Interstate 45 to and from work.
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 still below the Houston region’s average and at a significant discount to neighboring The Woodlands and Kingwood/Humble.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
19,927
112,499
294,498
2020 Population
19,379
112,939
299,377
2029 Population
20,457
114,825
299,869
2024-2029 Projected Population Growth
2.7%
2.1%
1.8%
Daytime Employees
11,634
36,193
90,702
Total Businesses
1,360
4,430
11,797
Average Household Income
$57,503
$81,079
$84,785
Median Household Income
$42,729
$57,051
$62,426
Total Consumer Spending
$163.2M
$1.1B
$3B
Median Age
31.4
33.8
34.2
2024 Households
7,771
40,404
100,693
Percent College Degree or Above
14%
18%
17%
Average Home Value
$201,236
$239,220
$236,528
$ values in USD
PROPERTY TAXES
| Parcel Number | 1163080000001 | Improvements Assessment | £3,411,688 |
| Land Assessment | £811,030 | Total Assessment | £4,222,718 |
SALE ADVISORS
SALE ADVISORS
Jonathan Diamond, Director of Sales- Southwest
(214) 707-8009
Contact
Jonathan has amassed a wealth of experience in the real estate industry, spanning various roles over the years. Starting as a Retail Investment Sales specialist at KLNB in Washington D.C., he quickly honed his skills before transitioning to CoStar Group in Dallas as a Sales Representative. His dedication and strategic acumen propelled him to Ten-X, where he excelled as a Sales Executive in the Dallas-Fort Worth Metroplex. Most recently, Jonathan assumed the role of Trusted Advisor at Bracket Real Estate, Inc. in Dallas, where he continues to leverage his extensive background to provide invaluable insights and guidance to his clients.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Casey Harrell
Contact
Auctioneer License:
Ten-X Commercial, LLC Todd Siegel RE Brkr 9004662
