359 Old Underwood Rd, La Porte, TX 77571 – Distr/Transit/Warehouse/Truck Terminal

Warehouse and StorageYear Built 2007Total Assessed Value $93,672,000County Harris

Property Details

The Warehouse and Storage property 359 Old Underwood Rd, La Porte, TX 77571 is located in Harris County. The specific property type is Distr/Transit/Warehouse/Truck Terminal. The total assessed value of this property is $93,672,000.

The gross building area is 900,000 square feet and the land area is 1,867,675 square feet for this Distr/Transit/Warehouse/Truck Terminal built in 2007.

Legal description: Res H & B1 Underwood Business Park

$93,672,000

Market Value

N/A

Cap Rate

N/A

NOI

N/A

Occupancy

Avg Rent

Property Image of 359 Old Underwood Rd, La Porte, TX 77571, Warehouse and Storage

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Property Information

Property TypeWarehouse and Storage

Sub Property TypeDistr/Transit/Warehouse/Truck Terminal

Building Area900,000

Land Size1,867,675

Land Value$4,688,711

Improved Value$88,983,289

Total Assessed Value$93,672,000

Year Built2007

County NameHarris

Account Number1296360000012

Cap RateN/A

Very Walkable

Good Transit

Bikeable

Amenities

Air ConditioningNone

HeatingNone

Type ConstructionSteel

No of Stories1

Garage TypeYes 78

Exterior WallsConcrete block

Sales History

12/18/2024

Arms-length$210,805,000

Buyer

Sp Independence Park Owner 1 Lp

Seller

Sreit Underwood Industrial Park Llc

Book Number

2024.472416

Recording Date

12/18/2024

Transaction Details

Sp Independence Park Owner 1 Lp acquired the property from Sreit Underwood Industrial Park Llc through a Arms-length transaction on 12/18/2024 for $210,805,000.

4/29/2021

Arms-length$195,000,000

Buyer

Sreit Underwood Industrial Park L L C

Seller

Hrus Underwood Llc

Book Number

Recording Date

4/29/2021

Transaction Details

Sreit Underwood Industrial Park L L C acquired the property from Hrus Underwood Llc through a Arms-length transaction on 4/29/2021 for $195,000,000.

2/15/2017

Arms-length$155,000,000

Buyer

Hrus Underwood Llc

Seller

Granite Underwood Distribution Center Gp Llc

Book Number

RP-2017-67297

Recording Date

2/15/2017

Transaction Details

Hrus Underwood Llc acquired the property from Granite Underwood Distribution Center Gp Llc through a Arms-length transaction on 2/15/2017 for $155,000,000.

Property constructed in 2007

YSale Price (USD) byXSales Year

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Mortgage History

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Assessment History

Assessment Year ↓	Assessed Land Value ↕	Assessed Improved Value ↕	Assessed Total Value ↕	Market Value ↕	Owner Name ↕	Owner Address ↕	Legal Description ↕	Neighborhood Code ↕	Sub Division ↕	Land Size (SF) ↕	GBA (SF) ↕
2026	$4,688,711	$90,510,467	$95,199,178	$95,199,178	Sp Independence Park...	55 Hudson Yards 550 ...	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000
2025	$4,688,711	$88,983,289	$93,672,000	$93,672,000	Sp Independence Park...	55 Hudson Yards 550 ...	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000
2024	$4,688,711	$76,768,578	$81,457,289	$81,457,289	Sreit Underwood Indu...	609 Main St Ste 2400	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000
2023	$4,688,711	$68,866,834	$73,555,545	$73,555,545	Sreit Underwood Indu...	609 Main St Ste 2400	Res H & B1 Underwood...	5980.27	ENOCH BRINSON ABS 5	1,867,675	900,000
2022	$4,688,711	$64,675,704	$69,364,415	$69,364,415	Sreit Underwood Indu...	609 Main St Ste 2400	Res H & B1 Underwood...	5980.27	ENOCH BRINSON ABS 5	1,867,675	900,000
2021	$4,688,711	$65,486,539	$70,175,250	$70,175,250	Sreit Underwood Indu...	609 Main St Ste 2400	Res H & B1 Underwood...	5980.27	ENOCH BRINSON ABS 5	1,867,675	900,000
2020	$4,688,711	$54,346,577	$59,035,288	$59,035,288	Hrus Underwood Llc	609 Main St Ste 2400	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000
2019	$4,688,711	$52,958,487	$57,647,198	$57,647,198	Hrus Underwood Llc	609 Main St Ste 2400	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000
2018	$4,688,711	$50,911,330	$55,600,041	$55,600,041	Hrus Underwood Llc	811 Main St Ste 4100	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000
2017	$4,688,711	$47,480,726	$52,169,437	$52,169,437	Hrus Underwood Llc	811 Main St Ste 4100	Res H & B1 Underwood...	5980.27	-	1,867,675	900,000

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Rent & Occupancy

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Comparables

Address ↕	Assessors Parcel Number ↕	Property Type ↕	Property Sub Type ↕	Owner Name ↕	County ↕	Miles ↕	Sale Price ↕	Sale Date ↕	Price / SF ↕	Year Built ↕	GBA ↕	Units ↕
359 Old Underwood Rd, La Porte, TX 77571	1296360000012	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Sreit Underwood Industrial Park Llc	Harris	-	$ 210,805,000	2024-12-18	$ 234.23	2007	900,000	-
8230 Stedman St 100, Houston, TX 77029	1409330010001	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Npov Houston Industrial Llc	Harris	12.3	$ 87,500,000	2025-02-19	$ 62.83	2019	1,392,720	100
4925 Underwood Rd, Pasadena, TX 77507	1005150000957	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Bayport North Owner Lp	Harris	3.7	$ 51,072,000	2024-07-25	$ 138.09	2017	369,855	-
2304 Reed Rd, Houston, TX 77045	1453360010001	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Reed Road Logistics Llc	Harris	18.7	$ 59,850,000	2025-02-11	$ 91.86	2023	651,551	-
10433 Ella Blvd, Houston, TX 77038	1399130010001	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Tsp Pinto Business Park Llc	Harris	26.4	$ 35,910,000	2023-12-05	$ 58.46	2018	614,256	-
13393 Main, Houston, TX 77085	1334270010001	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Bgoglp South Main Owner Lp	Harris	24.0	$ 45,294,860	2023-11-02	$ 84.69	2023	534,800	-
17654 Ben E Keith Way, San Antonio, TX 78266	452193	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Exeter 17654 Ben E Keith Lp	Comal	194.5	$ 36,650,000	2024-10-17	$ 119.29	2022	307,240	-
7015 Lancer Blvd, San Antonio, TX 78219	1351671	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Mohr Foster Ridge Llc	Bexar	198.2	$ 37,240,000	2023-03-01	$ 85.49	2021	435,592	-
30 Esplanade Blvd, Houston, TX 77060	1155630000015	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	B10 Nhlcc G Tx Owner Lp	Harris	25.6	$ 32,688,688	2023-06-13	$ 93.26	2019	350,500	-
6851 Cal Turner, San Antonio, TX 78220	1365339	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Connection Park Propco Llc	Bexar	198.6	$ 45,299,800	2023-08-07	$ 92.43	2022	490,083	-
901 Distribution Dr, Wilmer, TX 75172	540151500B03R0000	Warehouse and Storage	Distr/Transit/Warehouse/Truck Terminal	Usicvi 901 Distribution Drive Inc	Dallas	223.6	$ 25,536,000	2024-09-03	$ 76.27	2022	334,800	1

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Nearby Lenders

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Lender Name ↕	Property Address ↕	Loan Date ↕	Mortgage Amount ↕	Land Size (SF) ↕	Year Built ↕	GBA (SF) ↕	Total Assessed Value ↕	Land Assessed Value ↕	Borrower ↕
—	359 Old Underwood Rd, La Porte, TX 77571	—	-	1,867,675	2007	900,000	$ 93,672,000	$ 4,688,711	-
New York Life Insurance Co	9990 E Fwy, Houston, TX 77029	09/05/2025	$ 10,470,000	382,548	1970	179,536	$ 11,696,797	$ 1,147,644	-
Bank Of America Na	5800 Mesa Dr, Houston, TX 77078	08/28/2025	$ 540,000,000	3,915,211	1977	438,196	$ 25,567,976	$ 7,399,547	Lba Ncccompany Xxxi Llc
Ares Cre Lender Ii Llc	10591 Red Bluff Rd, Pasadena, TX 77507	08/07/2025	$ 250,000	1,809,744	2019	642,432	$ 70,961,625	$ 9,435,114	P9 Bayport South Lp
New York Life Insurance Co	9990 E Fwy, Houston, TX 77029	08/01/2025	$ 27,685,000	382,548	1970	179,536	$ 11,696,797	$ 1,147,644	8786 Wallisville Road Owner Ll
Morgan Stanley Mtg Cap Holding	8790 Wallisville Rd, Houston, TX 77029	07/09/2025	$ 1,000,000,000	291,199	1972	166,047	$ 7,538,526	$ 727,998	Gki Industrial Houston Llc
Hfb Mosley Ltd	8220 Mosley Rd, Houston, TX 77075	06/27/2025	$ 425,000	209,959	1967	75,000	-	-	Furniture Bank
M & T Bank	4811 Underwood Rd, Pasadena, TX 77507	06/26/2025	$ 15,500,000	478,363	2020	177,350	$ 19,484,614	$ 1,782,772	4811 Underwood Llc
Regions Bank	8705 Citypark Loop, Houston, TX 77013	06/03/2025	$ 10,000,000	307,559	1980	191,567	$ 12,452,487	$ 1,537,795	Activa Citypark Loop Llc
Rankin Midtown Lp	6654 Gulf Fwy, Houston, TX 77087	05/15/2025	$ 2,800,000	105,542	1965	49,700	-	-	N & S Madera Way Llc
Capital Bank	1360 Boyles St, Houston, TX 77020	04/29/2025	$ 500,000	160,972	1971	110,702	$ 5,061,806	$ 965,832	Akah Enterprises Llc

Mean$ 86,348,013

Median$ 10,235,000.0

Loan Amount Range$ 150,000 - $ 1,000,000,000

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Tenant Details

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Property Address ↕	Owner Name ↕	Phone ↕	Industry Description ↕
359 OLD UNDERWOOD RD STE E, LA PORTE, TX 77571-7600	IRONWEAR	2814712187	UNCLASSIFIED ESTABLISHMENTS
359 OLD UNDERWOOD RD STE D, LA PORTE, TX 77571-9668	NOV WILSON	2818673600	DISTRIBUTION SERVICES
359 OLD UNDERWOOD RD STE A, LA PORTE, TX 77571-7600	NOW DISTRIBUTION	2814211319	DISTRIBUTION SERVICES
359 OLD UNDERWOOD RD STE A, LA PORTE, TX 77571-7600	DISTRIBUTION NOW	2818673600	IMPORTERS (WHLS)

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License Details

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