Two-Story Office
For Sale
$1,995,000
1645 Greens Prairie Road W, College Station, TX 77845
Commercial, College Station, TX
Property Size5,362 SF
Lot Size0.22 Acres
Price / SF$372.06
Days on Market239
Property Features for 1645 Greens Prairie Road W
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C18
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Highway 6, exit William D Fitch Pkwy. Headed West on William D Fitch Parkway, turn Left onto Arrington Road. Turn Right onto Greens Prairie Rd. Complex and Units will be on your Right
Standard status
Active
APN
1645 Greens Prairie C18
Size
5,362 SF
Lot size
0.22 Acres
Amenities
private offices
conference room
bull-pen work area
bathrooms
working kitchen
walk-in storage closets
high ceilings
Building Details
Year built
2018
Listing Agency:
Walsh &Mangan Premier RE Group
(979) 690-9977
Listed By:
Morgan Mangan
(979) 587-8626
Added: Jan 15
Changed: Sep 4
Last Checked: Sep 11 at 6:06PM
MLS# 26000641
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2018, this 5,362-square-foot office building offers a two-level layout with 13 private offices and a dedicated conference room. The main floor combines an expansive bullpen workspace with a working kitchen, two bathrooms, and two walk-in storage closets. High ceilings and conference-room windows add to the building’s functional office configuration.
The property occupies 0.2179 acres at 1645 Greens Prairie Road W in College Station, Texas, within Brazos County. C18 zoning is identified for the site, and the address is in the 77845 postal area. The interior arrangement provides a mix of enclosed offices, collaborative workspace, meeting space, and support areas within one commercial property.
The property occupies 0.2179 acres at 1645 Greens Prairie Road W in College Station, Texas, within Brazos County. C18 zoning is identified for the site, and the address is in the 77845 postal area. The interior arrangement provides a mix of enclosed offices, collaborative workspace, meeting space, and support areas within one commercial property.
Key Highlights
- 5,362 square feet of office space
- 13 private offices
- Conference room with two walls of windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,517
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,410,340
$1.4M
Cap Rate 7%
$1,007,386
$1.0M
Cap Rate 9%
$783,522
$783.5K
Market Conditions
NOI Build-Up for 5,362 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$112.6K $21.00/SF
− Vacancy
−$18.6K −$3.47/SF
EGI
$94.0K $17.54/SF
− OpEx
−$23.5K −$4.38/SF
NOI
$70.5K $13.15/SF
Area
College Station, TX
Vacancy
16.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,410,340
Cap Rate 7%
$1,007,386
Cap Rate 9%
$783,522
Alternative Uses
Best Use
Office B
$1.01M
$881.5K – $1.18M
NOI $70,517 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,424 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 77845, TX
70,108
Population
31,464
Households
2.2
Avg Household Size
30
Median Age
61%
College-Educated
96%
High-School Grad
142.5 sq mi
ZIP Area
492
Density / Sq Mi
$90,434
Median Household Income
$46,532
Median Earnings
$1,384
Median Rent
$349,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - C18-zoned office property includes private offices, meeting space, kitchen facilities, bathrooms, and dedicated storage.
Where is this office building located?
The property is located at 1645 Greens Prairie Road W College Station, TX.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 5,362 square feet of office space; 13 private offices; Conference room with two walls of windows
