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    Tomball Industrial Space For Lease Title is generated by Realmo AI

    Grand Parkway & Highway 249, Tomball, TX

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    127,768 SF industrial space with direct highway access.

    Type:INDUSTRIAL
    Property size:
    127,768 SF
    Lot size:
    240.12 Acres
    Added:
    Sep 27, 2022
    Days on Market:
    1346
    Last Refresh:
    May 20 at 9:30 pm

    Property Features for Grand Parkway & Highway 249

    General Information

    Standard status
    Active
    Size
    127,768 SF
    Lot size
    240.12 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at Grand Parkway & Highway 249 Contact us

    We can help!

    Listing Contact
    Jim Foreman
    Jim Foreman

    Listing agent Jim Foreman

    Listing office Cushman & Wakefield - Houston

    Listing date Sep 27, 2022

    Source Moodyscre

    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 Cushman & Wakefield - Houston

    HighLights

    • Direct access to Grand Parkway 99 and Highway 249 in Northwest Houston
    • 127,768 SF Available
    • Benefit from 32’ Clear Height
    • Located in Class A+ master planned institutional industrial park
    • Features (42) 9 x 10 OH doors and (2) 16 x 18 OH doors w/ ramp
    • ESFR Sprinklers

    Overview

    Located in a master-planned industrial park in Northwest Houston, this property offers 127,768 square feet of available space. It features direct access to Grand Parkway 99 and Highway 249. The property is designed as a rear-load facility with a 32-foot clear height and ESFR sprinklers. It includes 276 car parking spaces. The slab thickness is 8 inches. Column spacing is 52 feet by 60 feet, with 60-foot speed bays. The property has 42 dock-high doors measuring 9 feet by 10 feet, and 2 oversized doors measuring 16 feet by 18 feet with a ramp. The property is pursuing LEED certification.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • CubeSmart Self Storage — 24210 Hufsmith - Kohrville Rd, Tomball, TX 77375
    • Tomball Lock Storage — 1210 E Hufsmith Rd, Tomball, TX 77375
    • TTX Storage — 24735 Stanolind Rd, Tomball, TX 77375

    Map

    City
    Tomball
    County
    Harris
    State
    Texas
    Longitude
    -95.6
    Latitude
    30.12

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    FAQs

    What type of property is this?
    Warehouse - 127,768 SF industrial space with direct highway access.
    Where is this warehouse located?
    The property is located at Grand Parkway & Highway 249 Tomball, TX.
    What are key features of this property?
    This property features: Direct access to Grand Parkway 99 and Highway 249 in Northwest Houston; 127,768 SF Available; Benefit from **32’ Clear Height**
    (713) 963-2824 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jim Foreman
    Jim Foreman
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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