Multi-Use Flex Warehouse with
For Sale
$280,000
2949 Main Ave, Groves, TX 77619
COMMERCIAL - Groves, TX
Property Size4,788 SF
Lot Size0.32 Acres
Price / SF$58.48
Days on Market50
Property Features for 2949 Main Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Freestanding
Subdivision
Groves 2
Standard status
Active
Size
4,788 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
TR 9-B REPLAT LTS 9 & 11 PEARL GARDENS .3211AC
Legal Description
TR 9-B REPLAT LTS 9 & 11 PEARL GARDENS .3211AC
Building Details
Floors in Building
1
Flooring type
Concrete
Building materials
Metal
Listing Agency:
JLA Realty
(409) 242-1900
Listed By:
John Altic · License #0572287
(281) 744-2611
Added: Jul 2
Changed: Aug 4
Last Checked: Aug 20 at 4:06PM
MLS# 267609
Copyright © 2026 Beaumont Board of REALTORS®. 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.
This multi-use commercial property includes office space with a small lobby area, an efficiency kitchen, and two separate shop units of approximately 2,088 and 2,700 square feet for a combined total of approximately 4,788 square feet. The flexible layout has been used for auto storage and a handyman business among other uses, and it is supported by a large parking area that can accommodate multiple vehicles and equipment. The property may require some TLC, but it offers substantial functional space for a variety of business operations.
The property is located at 2949 Main Ave in Groves, Texas. A dedicated parking area supports day-to-day access for staff and customers, and the separation into two shop units can support distinct workflows or multi-tenant use.
With built-in office and shop space plus vehicle and equipment parking, the layout can fit contractor businesses, fabrication and service industries, warehouse operations, and storage needs. For buyers or tenants looking for a flexible industrial-style setup with room for both workspace and administration, this property’s two-unit configuration and practical parking coverage make it a straightforward option to evaluate.
The property is located at 2949 Main Ave in Groves, Texas. A dedicated parking area supports day-to-day access for staff and customers, and the separation into two shop units can support distinct workflows or multi-tenant use.
With built-in office and shop space plus vehicle and equipment parking, the layout can fit contractor businesses, fabrication and service industries, warehouse operations, and storage needs. For buyers or tenants looking for a flexible industrial-style setup with room for both workspace and administration, this property’s two-unit configuration and practical parking coverage make it a straightforward option to evaluate.
Key Highlights
- Combined shop space of approximately 4,788 sqft.
- Large parking area for multiple vehicles, equipment, or fleet storage.
- Versatile layout suitable for automotive, warehouse, contractor, fabrication, service industries, storage, or multi‑tenant occupancy.
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
$24,370
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
8.70%
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%
$487,400
$487.4K
Cap Rate 7%
$348,143
$348.1K
Cap Rate 9%
$270,778
$270.8K
Market Conditions
NOI Build-Up for 4,788 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
$37.2K $7.76/SF
− Vacancy
−$2.3K −$0.49/SF
EGI
$34.8K $7.27/SF
− OpEx
−$10.4K −$2.18/SF
NOI
$24.4K $5.09/SF
Area
Jefferson County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
30.00%
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%
$487,400
Cap Rate 7%
$348,143
Cap Rate 9%
$270,778
Alternative Uses
Best Use
Flex RnD
$574.3K
$502.5K – $670.0K
NOI $40,200 @ 7.0% cap · market cap 14.36%
Second Best
Warehouse
$422.7K
$369.9K – $493.2K
NOI $29,592 @ 7.0% cap · market cap 10.57%
Theoretical Best
Multifamily LT 5
$53.80M
$47.07M – $62.76M
NOI $3,765,663 @ 7.0% cap · market cap 1,344.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77619, TX
17,349
Population
6,885
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
3,213
Density / Sq Mi
$70,485
Median Household Income
$43,314
Median Earnings
$1,247
Median Rent
$153,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with two shop units, office space, and parking suitable for contractor, service, and storage operations.
Where is this flex space located?
The property is located at 2949 Main Ave Groves, TX.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Combined shop space of approximately 4,788 sqft.; Large parking area for multiple vehicles, equipment, or fleet storage.; Versatile layout suitable for automotive, warehouse, contractor, fabrication, service industries, storage, or multi‑tenant occupancy.
