Last 12 Months' Income$505,000
Last 12 Months' Expenses$318,000
Annual Net Profit$187,000
Included Assets$122,000
Growth TrajectoryGrowing
Years in Operation3-5 years
Daily Operations Staffed
Neighborhood Urban
Remaining Time on LeaseLease 5+ years

Business & Space Overview

Central Houston location within the 610-loop on Washington Ave., just west of Downtown. Unique, historic building. Beautiful modern buildout but with exposed natural brick and open ceiling concept. On-site parking and several walkable amenities. 8,000 SF of occupied space on 2nd floor with a gym and cocktail bar on 1st floor. Long term lease with set renewal option. Good landlord response time for maintenance. 25 private offices, 2 meeting rooms, 2 phone booths, 20 hot-desk workstations, beautiful eye catching hospitality/coffee bar, event room. Fully occupied with 1 year agreements, a few 2 year. Great space for hot-desking/community feel. Strong demand with several inquiries per week about memberships. Solid profitability with strong future growth potential with rent bumps, hot desks, meeting room, event space, virtual office revenue.

Q Daily Operation

Office Manager manages space 8-4pm M-F. Contractor cleans space daily in morning and space is deep cleaned on the weekends. Owner (or could be supervisor) signs off on membership agreements and manages vendor/property related. Can be supervised with a one day visit per week.

Q Marketing

Mostly organic inquiries/traffic due primarily to location and signage. While not currently running ads,~$1k/month has been spent on Google/FB during original lease-up and post COVID ramp up.

Q Financials

Operation is generating ~$63 Revenue PSF/Year. Expenses, including lease, is ~$40 PSF/Year. Numbers here and in summary are annualized based on average current monthly income statement.

Q Opportunities for Growth

Good investment for operator/business investor seeking immediate cash flow with upside value potential. Strong demand in a great location. Foundation of private office revenue with a layout and location conducive for hot-desks memberships/community growth. Space requires minimal supervision, but for an aggressive operator, more value could be created from rent bumps, meetings space, daily office rentals, virtual offices, and events.

Q About The Seller

Owner/Operator is seeking to create a cash event.

Asking Price $1,250,000

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