Armand Plaza

Scaled Yield with Institutional Profile: A ±63,895 SF multi-tenant asset with projected NOI of roughly $1.21M in Year 1, offering immediate yield with institutional-quality deal size in a high-demand submarket.
Long-Term Lease Security with Built-In Growth: ±7-year WALT anchored by multiple new 10-year leases with 2.5% annual escalations, creating a predictable income stream with built-in NOI growth and inflation hedge.
High Medical Tenancy with Essential-Service Demand: 59% medical tenancy provides exposure to necessity-based users, historically demonstrating stronger performance and retention through economic cycles.
Diversified Rent Roll Reducing Risk: Nine tenants across medical, behavioral health, and professional services minimizes reliance on any single operator and enhances income stability.
Attractive Basis Below Replacement Cost: Houston construction costs are estimated to be roughly $350/SF for medical office in 2025. The Armand Plaza offered at roughly $230/SF, provides investors with an opportunity to acquire a stabilized healthcare-oriented asset well below today’s construction costs.
Mark-to-Market Upside and Value-Add on Select Leases: In-place rents on certain tenants remain below market, creating an opportunity to organically grow NOI through renewals and lease roll.
High-Visibility Location Supported by Strong Traffic & Affluent Demographics: Fronting Space Center Blvd (±18,000 VPD) and near Bay Area Blvd (±34,400 VPD), the property benefits from consistent traffic flow, strong visibility, and convenient access via I-45, while serving an affluent consumer base with average household incomes of approximately $116K within a 5-mile radius, supporting strong tenant performance and healthcare demand.
Surrounded by Major Employment and Demand Drivers (Healthcare, Education & Aerospace): Located near HCA Houston Healthcare Clear Lake (532 beds), Houston Methodist Clear Lake Hospital (178 beds), the University of Houston – Clear Lake, and NASA’s Johnson Space Center, one of the region’s largest employment hubs, driving consistent patient demand, strong tenant performance, and long-term leasing stability.
Houston MSA Tailwinds Driving Demand: Located in one of the fastest-growing U.S. metros with strong population growth, a diversified economy, and world-renowned healthcare infrastructure supporting long-term tenant demand.

Navigation Menu

Key Information

Highlights

Photos

Location

Agents

Broker of Record

Patrick Graham