For Auction

REIT Sale | 1880 Dairy Ashford St | 66% Occupied | $749K NOI

1880 Dairy Ashford St,
Houston, TX 77077

Asset Snapshot

Real Estate
Asset Type
Office
Property Type
$748,990
NOI
1983
Year Built
6
Floor Count
1
Building Count
408
Parking Spots
5.08 Acres
Land Area
65.9%
Occupancy
158,451 SF
Property Size

Offering Summary

Investment Highlights

  • ±158,451 SF, Six-Story, Multi-Tenant Office Building with Covered Parking in Houston’s Dynamic Energy Corridor Submarket
  • 65.9% Occupied Providing Near-Term Value Add Potential with a Range of Suite Sizes Readily Available For Lease
  • Excellent Investment Opportunity with $748,990 NOI
  • Positioned on a ±5.08 Acre Parcel along S Dairy Ashford Rd and Minutes from Highway 6 South (±69K VPD), Westpark Tollway  (±68K VPD), and Sam Houston Tollway (±162K VPD)
  • Tremendous Residential Growth Due to Opening of Grand Parkway (Highway) Which Encircles Half of Houston MSA
  • Located Within a Densely Populated Area That Services ±390,171 Individuals in a 5-Mile Radius with an Average Household Income of ±$83,787
 

Offering Summary

Marcus & Millichap is pleased to offer for sale the fee simple interest in 1880 Dairy Ashford St, a ±158,451 SF, 65.9% occupied, multi-tenant office building located in Houston, Texas (the “Property”). This offering represents an opportunity to acquire a significant value-add office building located in west Houston’s I-10 West/Energy Corridor, one of the most active office submarkets for corporate relocations in the entire Houston MSA.
 
The Property sits on a 5.08-acre lot with ample covered parking. The building is located five minutes south of I-10 West aka the Katy Freeway, and ten minutes east of Highway 6 South, a six-lane major thoroughfare that connects the north part of the city with Houston’s far southwest. The Propery is in close proximity to some of Houston’s most popular and high-end hotels, retail, and entertainment venues. As of 2024, the Property’s demographics have ±390,171 individuals residing within a 5-mile radius, with an average household income of ±$83,787.

Due Diligence

Transaction Manager

Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Lamar P. Fisher
Fisher Auction Company Inc.
License: 10344

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Closed

This asset was part of the December 11th, 2024 auction event, resulting in a successful transaction that closed in just 33 days.
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Investment Sales Brokers

Keith Lloyd
Marcus & Millichap
TX License: 307120
(713) 927-4546keith.lloyd@marcusmillichap.com
Brad Mills
Marcus & Millichap
TX License: 732895
(972) 765-0095brad.mills@marcusmillichap.com
Adam Sklaver
Marcus & Millichap
(301) 706-4619adam.sklaver@marcusmillichap.com
Philip Kates
Marcus & Millichap
(305) 206-1286philip.kates@marcusmillichap.com
Kyle Hynes
Marcus & Millichap
(617) 699-0128kyle.hynes@marcusmillichap.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.