Industrial Warehouse
For Sale
Contact for pricing
11339 NEESHAW DR, Houston, TX 77065
For-sale industrial warehouse built for owners seeking a structured sale-leaseback arrangement.
Property Size31,900 SF
Price / SF$166.67
Days on Market74
Property Features for 11339 NEESHAW DR
General Information
Standard status
Active
Size
31,900 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Sale/Leaseback
Net Operating Income
$414,700
Building Details
Year Built
2004
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Ascension Advisory
Listed By:
Chelsea Mandel · License #NY
Source:
Crexi
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 12 at 11:33AM
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 Ascension Advisory
Investment Insights
Based on property information with market context.
This offering presents an industrial warehouse opportunity presented as a sale-leaseback. The property is marketed as a combined industrial real estate and tenant occupancy structure, designed for an owner looking to monetize the asset while maintaining continued use under a lease-back framework.
Located at 11339 Neeshaw Dr in Houston, Texas, the asset is positioned within the Houston industrial market. As presented in the materials, it is offered for sale, with the transaction positioned around the sale-leaseback format rather than a vacant acquisition.
For prospective buyers, this structure may be attractive when seeking an industrial warehouse investment where ownership and occupancy are tied together through the lease-back arrangement. For owner-operators or investors considering a repositioning or exit strategy, the sale-leaseback approach can provide a clear path to liquidity while retaining ongoing operational continuity through the lease terms. Interested parties should review the specific lease structure and financial details directly in the offering materials to confirm fit with their underwriting and ownership objectives.
Located at 11339 Neeshaw Dr in Houston, Texas, the asset is positioned within the Houston industrial market. As presented in the materials, it is offered for sale, with the transaction positioned around the sale-leaseback format rather than a vacant acquisition.
For prospective buyers, this structure may be attractive when seeking an industrial warehouse investment where ownership and occupancy are tied together through the lease-back arrangement. For owner-operators or investors considering a repositioning or exit strategy, the sale-leaseback approach can provide a clear path to liquidity while retaining ongoing operational continuity through the lease terms. Interested parties should review the specific lease structure and financial details directly in the offering materials to confirm fit with their underwriting and ownership objectives.
Key Highlights
- Industrial warehouse built in 2004
- For‑sale property described as an industrial sale‑leaseback opportunity in Houston, TX
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
$234,794
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
4.42%
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%
$4,695,880
$4.7M
Cap Rate 7%
$3,354,200
$3.4M
Cap Rate 9%
$2,608,822
$2.6M
Market Conditions
NOI Build-Up for 31,900 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
$306.2K $9.60/SF
− Vacancy
−$30.0K −$0.94/SF
EGI
$276.2K $8.66/SF
− OpEx
−$41.4K −$1.30/SF
NOI
$234.8K $7.36/SF
Area
Houston, TX
Vacancy
9.80%
Lease Rate
$9.60 /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%
$4,695,880
Cap Rate 7%
$3,354,200
Cap Rate 9%
$2,608,822
Alternative Uses
Best Use
Warehouse
$3.35M
$2.93M – $3.91M
NOI $234,794 @ 7.0% cap · market cap 4.42%
Second Best
Industrial
$2.57M
$2.25M – $3.00M
NOI $179,868 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$8.20M
$7.18M – $9.57M
NOI $574,200 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77065, TX
37,144
Population
17,110
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
89%
High-School Grad
8.2 sq mi
ZIP Area
4,530
Density / Sq Mi
$75,496
Median Household Income
$44,334
Median Earnings
$1,371
Median Rent
$257,800
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - For-sale industrial warehouse built for owners seeking a structured sale-leaseback arrangement.
Where is this warehouse located?
The property is located at 11339 NEESHAW DR Houston, TX.
What is the asking price?
The asking price for this property is $5,316,667.
What are key features of this property?
This property features: Industrial warehouse built in 2004; For‑sale property described as an industrial sale‑leaseback opportunity in Houston, TX
