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Unoccupied Behavioral Health Hospital

$4,900,000

11500 Space Center Blvd, Houston, TX 77059

Cap Rate

N/A

Square Feet

45083

Year Built/Renovated

2008/2021

INVESTMENT HIGHLIGHTS

• Priced Significantly Below Replacement Cost

• Proven History of Successful Demand of Behavioral Health Services at Location

• Minimal Buildout Needed Versus Ground Up Development of Similar Facility

• High-End Buildout and Furnishings

• Building and Mechanical Components in Great Condition

• High Income Demographic Location and Close Proximity to Variety of Submarkets

• Buildout Layout is Excellent for Variety of Medical Uses

• Extensive Parking

PROPERTY DESCRIPTION

Marcus & Millichap is pleased to exclusively list for sale a 45,083 square feet Unoccupied Behavioral Health Hospital, located at 11500 Space Center Boulevard in Houston, Texas. The building was initially built in 2008 as a steakhouse and event center, which was then converted into a behavioral health facility in 2015-2016 and has recently been renovated in 2020 and 2021.

The building has two phases with varying completion status. Phase One is ready for operation, assuming proper permitting and licensing of an operator. It houses ten rooms with twenty beds, medical evaluation rooms, conference rooms, nurse station, offices, commercial kitchen, dining facilities, outdoor and indoor common areas, and other essential rooms needed to operate a behavioral health facility. Phase Two is incomplete, with all drawings and plans completed and buildout started, but approximately an additional two million dollars of improvements are needed to finish the addition.

The facility’s location, buildout, layout, and infrastructure make it a candidate to be converted into a variety of medical uses aside from behavioral health services.

The offering is located in Clear Lake City and is in close proximity to many submarkets including, South Houston, Pasadena, Deer Park, La Porte, Webster, Seabrook, and Friendswood. It is located within the Village at Clear Point Crossing development, a medical office park with major operators such as UT Physicians, Memorial Hermann, Quest Diagnostics, Bayshore Pediatrics, Retna Consultants of Houston, Bailey Orthodontics, Clearpoint Dentistry, Houston ENT Clinic, and more.

The property is located within a Commercial Owner’s Association, which, according to the landlord, is administrative, without annual fees due.

Alex Wolansky

FIRST VICE PRESIDENT
N/A
713-452-4292

Gus N. Lagos

SENIOR VICE PRESIDENT
gus.lagos@marcusmillichap.com
713-452-4257

EXCLUSIVELY
LISTED BY
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