Fully Leased Office
For Sale
Contact for pricing
10480 Grant Rd, Houston, TX 77070
Established office property with full occupancy, recent roof refinishing, parking, and landscaped outdoor space.
Property Size6,000 SF
Price / SF$216.67
Days on Market9
Property Features for 10480 Grant Rd
General Information
Standard status
Active
Size
6,000 SF
Class
B
Property subtype
Office
Occupancy
100%
Investment Type
Value Add
Amenities
outdoor green space
Building Details
Year Built
1986
Buildings
1
Stories
1
Listing Agency:
Cloud Team Realty
(832) 880-0905
Listed By:
Neel Patel · License #TX 602448
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 10 at 4:29AM
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 Cloud Team Realty
Investment Insights
Based on property information with market context.
This 6,000-square-foot office building in Houston was constructed in 1986 and is currently 100% leased. The property includes on-site parking and outdoor green space, providing functional amenities for the existing occupants.
Recent roof refinishing is a notable capital improvement. Located at 10480 Grant Rd, the property offers an income-producing office configuration with established occupancy and maintained exterior improvements.
Recent roof refinishing is a notable capital improvement. Located at 10480 Grant Rd, the property offers an income-producing office configuration with established occupancy and maintained exterior improvements.
Key Highlights
- 6,000 SF office building constructed in 1986
- 100% leased occupancy
- Recent roof refinishing
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
$69,984
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
5.38%
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%
$1,399,680
$1.4M
Cap Rate 7%
$999,771
$999.8K
Cap Rate 9%
$777,600
$777.6K
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$36.3K −$6.05/SF
EGI
$93.3K $15.55/SF
− OpEx
−$23.3K −$3.89/SF
NOI
$70.0K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$1,399,680
Cap Rate 7%
$999,771
Cap Rate 9%
$777,600
Alternative Uses
Best Use
Office B
$999.8K
$874.8K – $1.17M
NOI $69,984 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,710
Businesses Nearby
Explore this area
Business Placement
Demographics for 77070, TX
52,943
Population
23,272
Households
2.3
Avg Household Size
36
Median Age
38%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
4,073
Density / Sq Mi
$72,440
Median Household Income
$44,073
Median Earnings
$1,571
Median Rent
$264,300
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Established office property with full occupancy, recent roof refinishing, parking, and landscaped outdoor space.
Where is this office building located?
The property is located at 10480 Grant Rd Houston, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 6,000 SF office building constructed in 1986; 100% leased occupancy; Recent roof refinishing
