Flex Space with
For Sale
$660,000
1002 Henderson Avenue, Palacios, TX 77465
CommercialSale, Palacios, TX
Property Size4,500 SF
Lot Size1.83 Acres
Price / SF$146.67
Days on Market94
Property Features for 1002 Henderson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Parking features
Special Needs
Security features
Security
Interior features
Attic, PermanentAtticStairs, Storage
Lot features
One To Three Acres, City Lot, Level
Directions
On State Highway 35 near the corner of HWY 35 and Tenth ST. The Dragon Welding Building is across the street from Bayside Seafood.
Standard status
Active
APN
18519
Size
4,500 SF
Lot size
1.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AB 0162, L GOODWIN, TRACT ALL OF 6A & PART OF TRACT 6, ACRES 1.83, AB 162 SW 1/4 SEC 9
Tax Annual Amount
6090
Legal Description
AB 0162, L GOODWIN, TRACT ALL OF 6A & PART OF TRACT 6, ACRES 1.83, AB 162 SW 1/4 SEC 9
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2015
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
MetalFrame, MetalSiding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Wied Realty
(979) 543-2266
Listed By:
Becky B Wied · License #0480842
(979) 637-6371
Added: May 24
Changed: Aug 20
Last Checked: Aug 25 at 11:06PM
MLS# 614767
Copyright © 2026 Central Texas Multiple Listing Service. 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 2015, this 4,500-square-foot flex property combines a showroom, offices, kitchen, two restrooms, file rooms, shop space, and an upper loft. Central air conditioning serves the showroom, office areas, restrooms, file rooms, and kitchen, while the shop includes multiple roll-up doors. The loft adds accessible storage with lighting and floor-level AC plugs.
The property occupies 1.83 acres along Highway 35 in Palacios, with a large parking area, concrete apron, and handicap parking. The building is ADA compliant and includes public water and sewer, metal-frame construction, metal siding, a metal roof, and commercial zoning. Safety and security features include an OSHA-compliant flammables cabinet, first aid and eyewash stations, a maintained fire alarm system, and security cameras.
The property occupies 1.83 acres along Highway 35 in Palacios, with a large parking area, concrete apron, and handicap parking. The building is ADA compliant and includes public water and sewer, metal-frame construction, metal siding, a metal roof, and commercial zoning. Safety and security features include an OSHA-compliant flammables cabinet, first aid and eyewash stations, a maintained fire alarm system, and security cameras.
Key Highlights
- 4,500‑square‑foot flex building completed in 2015
- 1.83‑acre site with 132' of Highway 35 frontage
- Showroom, offices, kitchen, 2 restrooms, file rooms, shop, and upper loft
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
Well-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building with conditioned offices, customer-facing space, shop area, loft storage, and dedicated parking.
Where is this flex space located?
The property is located at 1002 Henderson Avenue 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: 4,500‑square‑foot flex building completed in 2015; 1.83‑acre site with 132' of Highway 35 frontage; Showroom, offices, kitchen, 2 restrooms, file rooms, shop, and upper loft
