Cap rates on Houston inner loop area?

[Account Closed]

I am planning to buy a 20-30 units class B building in Houston inner loop area as a land play. What are the cap rates that you have been seeing in that area. 

[Fred Heller]

@Account Closed    In that area you're probably looking in the upper 3s to the upper 4s. I've seen them as low as the upper 2s and as high as the lower 5s. But generally, that 3-4 range seems to be the norm from my experience.