Warehouse with Showroom and
For Sale
$660,000
1002 Henderson Ave, Palacios, TX 77465
Multi-use warehouse building with air-conditioned showroom and office space plus an unconditioned shop with roll-up doors.
Property Size4,500 SF
Lot Size1.83 Acres
Price / SF$146.67
Days on Market69
Property Features for 1002 Henderson Ave
General Information
Standard status
Active
Size
4,500 SF
Lot size
1.83 Acres
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
4,500 SF
Year Built
2015
Stories
1
Listing Agency:
Wied Realty
(979) 637-6371
Listed By:
Becky B Wied · License #0480842
(979) 637-6371
Source:
Elliman
Added: Jun 1
Changed: Aug 8
Last Checked: Jul 12 at 4:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wied Realty
Investment Insights
Based on property information with market context.
This property offers a 4,500-square-foot building designed for mixed warehouse, showroom, and office use. The facility includes a showroom, office areas, a kitchen, two restrooms, and a shop space with multiple roll-up doors. The showroom, office restrooms, file rooms, and kitchen are air conditioned. An upper loft provides open, accessible storage supported by lighting and floor-level AC plugs. The building is ADA compliant and includes a professionally maintained fire alarm system, security systems, and cameras. For worker safety and compliance, the property features an OSHA compliant steel flammables storage cabinet, first aid station, and eye wash station.
Set on a 1.83-acre lot, the building has approximately 132 feet of frontage on Highway 35. On-site parking is provided with a large parking lot, a concrete apron, and handicap parking.
The layout supports tenants or buyers needing both a front-facing showroom and back-of-house storage or light industrial operations. With air-conditioned office and customer-facing areas alongside a roll-up door shop, the space can accommodate businesses that require separate work and customer functions under one roof.
Set on a 1.83-acre lot, the building has approximately 132 feet of frontage on Highway 35. On-site parking is provided with a large parking lot, a concrete apron, and handicap parking.
The layout supports tenants or buyers needing both a front-facing showroom and back-of-house storage or light industrial operations. With air-conditioned office and customer-facing areas alongside a roll-up door shop, the space can accommodate businesses that require separate work and customer functions under one roof.
Key Highlights
- 1.83‑acre lot with 132' frontage on Hwy 35
- 4,500 SF multi‑use building with showroom, office, kitchen, 2 restrooms, shop, and upper loft
- Showroom, office, restrooms, file rooms, and kitchen are air conditioned
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
$27,812
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
4.21%
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%
$556,240
$556.2K
Cap Rate 7%
$397,314
$397.3K
Cap Rate 9%
$309,022
$309.0K
Market Conditions
NOI Build-Up for 4,500 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
$34.9K $7.76/SF
− Vacancy
−$2.2K −$0.49/SF
EGI
$32.7K $7.27/SF
− OpEx
−$4.9K −$1.09/SF
NOI
$27.8K $6.18/SF
Area
Matagorda County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
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%
$556,240
Cap Rate 7%
$397,314
Cap Rate 9%
$309,022
Alternative Uses
Best Use
Warehouse
$397.3K
$347.7K – $463.5K
NOI $27,812 @ 7.0% cap · market cap 4.21%
Second Best
Industrial
$327.2K
$286.3K – $381.7K
NOI $22,904 @ 7.0% cap · market cap 3.47%
Theoretical Best
Multifamily LT 5
$50.45M
$44.15M – $58.86M
NOI $3,531,616 @ 7.0% cap · market cap 535.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77465, TX
7,137
Population
3,793
Households
1.9
Avg Household Size
41
Median Age
20%
College-Educated
76%
High-School Grad
232.4 sq mi
ZIP Area
31
Density / Sq Mi
$69,500
Median Household Income
$41,914
Median Earnings
$748
Median Rent
$170,600
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 - Multi-use warehouse building with air-conditioned showroom and office space plus an unconditioned shop with roll-up doors.
Where is this flex space located?
The property is located at 1002 Henderson Ave Palacios, TX.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 1.83‑acre lot with 132' frontage on Hwy 35; 4,500 SF multi‑use building with showroom, office, kitchen, 2 restrooms, shop, and upper loft; Showroom, office, restrooms, file rooms, and kitchen are air conditioned
