Multi-Building Flex
New
For Sale
$1,956,560
1122 County Road 129, Alvin, TX 77511
Three buildings combine office areas with predominantly warehouse-oriented space.
Property Size18,400 SF
Days on Market6
Property Features for 1122 County Road 129
General Information
Standard status
Active
Size
18,400 SF
Property subtype
Industrial
Zoning
No Zoning
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Building Size
18,400 SF
Buildings
3
Tenancy
Multi
Listing Agency:
Zann Commercial Brokerage
(281) 382-5460
Listed By:
Michael Gage · License #0614711
(281) 382-5460
Source:
Zann
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 1:48PM
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 Zann Commercial Brokerage
Investment Insights
Based on property information with market context.
This flex-space property comprises three separate buildings with multiple office-warehouse units in varying sizes. Individual layouts generally include a small office component, while most of each unit is configured for warehouse or industrial use. The property includes nine 12-by-12 overhead doors and one 10-by-10 overhead door, providing loading access across the buildings. In-place rental income is also identified in the property information.
Located at 1122 County Road 129 in Alvin, the site fronts FM 2351/CR 129, just west of Friendswood in Brazoria County. Highway 35 and FM 518 can be reached via CR 129. The property is in unincorporated Brazoria County with no zoning designation identified. Water service is provided by a well and wastewater by septic. Portions of the property are in flood hazard areas, subject to buyer verification.
Located at 1122 County Road 129 in Alvin, the site fronts FM 2351/CR 129, just west of Friendswood in Brazoria County. Highway 35 and FM 518 can be reached via CR 129. The property is in unincorporated Brazoria County with no zoning designation identified. Water service is provided by a well and wastewater by septic. Portions of the property are in flood hazard areas, subject to buyer verification.
Key Highlights
- Three separate buildings with multiple office‑warehouse units
- Nine 12x12 overhead doors and one 10x10 overhead door
- Property fronts FM 2351/CR 129 at 1122 County Road 129
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
$115,057
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
5.88%
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%
$2,301,140
$2.3M
Cap Rate 7%
$1,643,671
$1.6M
Cap Rate 9%
$1,278,411
$1.3M
Market Conditions
NOI Build-Up for 18,400 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
$147.9K $8.04/SF
− Vacancy
−$12.6K −$0.68/SF
EGI
$135.4K $7.36/SF
− OpEx
−$20.3K −$1.10/SF
NOI
$115.1K $6.25/SF
Area
Brazoria County, TX
Vacancy
8.50%
Lease Rate
$8.04 /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%
$2,301,140
Cap Rate 7%
$1,643,671
Cap Rate 9%
$1,278,411
Alternative Uses
Best Use
Office B
$4.39M
$3.84M – $5.12M
NOI $307,183 @ 7.0% cap · market cap 15.70%
Second Best
Warehouse
$1.64M
$1.44M – $1.92M
NOI $115,057 @ 7.0% cap · market cap 5.88%
Theoretical Best
Multifamily LT 5
$229.22M
$200.57M – $267.42M
NOI $16,045,332 @ 7.0% cap · market cap 820.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77511, TX
51,093
Population
20,499
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
83%
High-School Grad
150.1 sq mi
ZIP Area
340
Density / Sq Mi
$77,015
Median Household Income
$43,119
Median Earnings
$1,213
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Office 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 - Three buildings combine office areas with predominantly warehouse-oriented space.
Where is this flex space located?
The property is located at 1122 County Road 129 Alvin, TX.
What is the asking price?
The asking price for this property is $1,956,560.
What are key features of this property?
This property features: Three separate buildings with multiple office‑warehouse units; Nine 12x12 overhead doors and one 10x10 overhead door; Property fronts FM 2351/CR 129 at 1122 County Road 129
