Mixed-Use Property with
New
For Sale
Contact for pricing
1105 N HWY 288B, Richwood, TX 77531
Office, workshop, paved yard, and cleared acreage support administrative and service-oriented operations.
Property Size3,465 SF
Lot Size2.94 Acres
Price / SF$172.87
Days on Market4
Property Features for 1105 N HWY 288B
General Information
Standard status
Active
Size
3,465 SF
Class
B
Lot size
2.94 Acres
Property subtype
Office, Mixed Use, Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,040 SF
Drive-In Doors
4
Additional Details
Asking Price
$599,000
Building Details
Year Built
1985
Buildings
2
Units
1
Listing Agency:
Coldwell Banker Ultimate
Listed By:
Lanita Koppe · License #565030
Source:
Crexi
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:10PM
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 Coldwell Banker Ultimate
Investment Insights
Based on property information with market context.
This mixed-use property includes 3,465 SF of improvements on a 2.943-acre site. The front office contains seven private offices, a waiting room, break room, half bath, and storage. Behind it, two workshop buildings provide 2,040 SF of space and four roll-up bays, including a 40' x 30' shop with two roll-up doors and a 28' x 30' shop with two additional bays. Workshop utilities include water, electric, and plumbing.
The site offers approximately 262 feet of frontage along 288-B, with three driveways and asphalt paving across the operating yard. Drive-around circulation connects the office and workshop areas, while cleared acreage provides additional site area. Recent improvements include new office subflooring and flooring, plumbing work, a rebuilt front porch and steps, replacement front and rear doors, painted exterior trim, and concrete anchoring. The roof, HVAC, and electrical systems are reported in good condition. The property can be acquired with the existing improvements, additional land, or the full site.
The site offers approximately 262 feet of frontage along 288-B, with three driveways and asphalt paving across the operating yard. Drive-around circulation connects the office and workshop areas, while cleared acreage provides additional site area. Recent improvements include new office subflooring and flooring, plumbing work, a rebuilt front porch and steps, replacement front and rear doors, painted exterior trim, and concrete anchoring. The roof, HVAC, and electrical systems are reported in good condition. The property can be acquired with the existing improvements, additional land, or the full site.
Key Highlights
- 2.943‑acre mixed‑use site with office, workshop, paved yard, and cleared acreage
- Approximately 262 feet of frontage along 288‑B with three available driveways
- Office layout includes seven private offices, waiting room, break room, half bath, and storage
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
$28,586
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
4.77%
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%
$571,720
$571.7K
Cap Rate 7%
$408,371
$408.4K
Cap Rate 9%
$317,622
$317.6K
Market Conditions
NOI Build-Up for 3,465 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
$52.0K $15.00/SF
− Vacancy
−$6.2K −$1.80/SF
EGI
$45.7K $13.20/SF
− OpEx
−$17.2K −$4.95/SF
NOI
$28.6K $8.25/SF
Area
Brazoria County, TX
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$571,720
Cap Rate 7%
$408,371
Cap Rate 9%
$317,622
Alternative Uses
Best Use
Office B
$826.4K
$723.1K – $964.1K
NOI $57,847 @ 7.0% cap · market cap 9.66%
Second Best
Mixed Use
$408.4K
$357.3K – $476.4K
NOI $28,586 @ 7.0% cap · market cap 4.77%
Theoretical Best
Multifamily LT 5
$43.17M
$37.77M – $50.36M
NOI $3,021,580 @ 7.0% cap · market cap 504.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 77531, TX
15,666
Population
7,502
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
83%
High-School Grad
11.7 sq mi
ZIP Area
1,339
Density / Sq Mi
$71,583
Median Household Income
$40,817
Median Earnings
$1,217
Median Rent
$236,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, workshop, paved yard, and cleared acreage support administrative and service-oriented operations.
Where is this mixed-use property located?
The property is located at 1105 N HWY 288B Richwood, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2.943‑acre mixed‑use site with office, workshop, paved yard, and cleared acreage; Approximately 262 feet of frontage along 288‑B with three available driveways; Office layout includes seven private offices, waiting room, break room, half bath, and storage
