FM 1960 / Hwy 249
Chase Bank Tower
616 FM 1960 W Rd, Houston, TX 77090
- TypeOffice
- Size142,194 SF
- Cap rate7.00% (OM)
- Occupancy89.5%
- PriceWith OM
Office · Greenspoint / North Houston · 7.00% cap (OM)
396 Tower — 189,900 SF Multi-Tenant Office Building for Sale, Greenspoint, Houston
A 12-story, small-suite Class A office tower at 88.4% physical occupancy across 363 suites, with lease-up to 95% lifting NOI to about $1,827,623 at the same expense load (OM estimate).
| Address | 396 W Greens Rd, Houston, TX 77067 | OM |
|---|---|---|
| Type | Class A multi-tenant, small-suite office | OM |
| Building | 189,900 SF gross building area, 12 stories | OM |
| Site | 9.06 acres (394,654 SF) | OM |
| Built / renovated | 1980 / 2017 | OM |
| Occupancy | 88.4% physical (321 of 363 suites); 83.1% economic | OM |
| In-place NOI | $1,598,566 (expenses estimated at 42% of EGI pending T-12) | OM |
| Cap rate | 7.00% on in-place NOI at the OM offering price | OM |
| Parking | 1,148 spaces (1,028 structured garage + 120 surface) | OM |
| Access | I-45 and Beltway 8 | OM |
| Price | Provided with the confidential OM to qualified buyers | — |
Market context
Greenspoint holds about 10.05M SF of office with 45.7% availability and an all-class asking rent of $19.56/SF (Q1 2026, per the OM market section). 396 Tower's in-place revenue of about $26.52 per occupied SF is in line with Greenspoint Class A asking rent of $26.71/SF.
Due diligence available to qualified buyers
Rent roll, trailing-12 operating statement, leases and estoppels, survey and title, and third-party reports, after a confidentiality agreement.
Questions
What is the cap rate on 396 Tower?
7.00% on in-place NOI of $1,598,566 at the OM offering price. If the confirmed price changes, the cap rate changes with it.
What due diligence is available for 396 Tower?
Qualified buyers who sign a confidentiality agreement receive the rent roll, trailing-12 operating statement, leases and estoppels, survey and title, and third-party reports.
All figures from owner-provided rent rolls and offering memoranda; buyer to verify. Not an offer of securities. Marketed by Mark N Noor, licensed Texas real estate sales agent, Coldwell Banker Commercial Universal.
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