Adaptable Building in Historic
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105 S 2nd St, Richmond, TX
Versatile commercial property in Richmond's vibrant Downtown Historic District.
Property Size2,940 SF
Lot Size0.18 Acres
Price / SF$202.38
Days on Market551
Property Features for 105 S 2nd St
General Information
Standard status
Active
Size
2,940 SF
Lot size
0.18 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Coldwell Banker Commercial Realty
(281) 304-5900
Listed By:
Quenton Rockwell · License #0641265
(832) 877-2703
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Sep 6
Last Checked: Sep 19 at 6:53AM
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 Commercial Realty
Investment Insights
Based on property information with market context.
Located in the Downtown Richmond Historic District, the Foxfire Studios Building offers a commercial property with character, functionality, and a prime location. The mixed-use building spans 2,940 square feet on a 7,729 square foot lot, presenting opportunities for businesses seeking to establish themselves in a dynamic community. The building's layout is suitable for various business types, including industrial operations, call centers, educational institutions, churches, or retail establishments. The property includes 20 designated parking spaces, with fourteen spaces securely gated and six street-side spaces. The building features a fully built-out garage/warehouse area designed for practical use, suitable for inventory management, storage, or operational workshops. A comprehensive camera security system is installed. The location in the Downtown Richmond Historic District offers exposure and accessibility, with cultural heritage, shopping destinations, and dining experiences attracting foot traffic and visitors. The property is suitable for expanding a business, establishing a new venture, or investing in a property.
Key Highlights
- Prime location in the vibrant Downtown Richmond Historic District, offering high visibility and foot traffic.
- Versatile 2,940 sq ft mixed‑use building suitable for various business types.
- Ample parking with 20 designated spaces, including 14 gated for enhanced security, plus 6 street‑side spaces.
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
$39,823
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
6.69%
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%
$796,460
$796.5K
Cap Rate 7%
$568,900
$568.9K
Cap Rate 9%
$442,478
$442.5K
Market Conditions
NOI Build-Up for 2,940 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
$60.3K $20.52/SF
− Vacancy
−$3.4K −$1.17/SF
EGI
$56.9K $19.35/SF
− OpEx
−$17.1K −$5.81/SF
NOI
$39.8K $13.55/SF
Area
Fort Bend County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
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%
$796,460
Cap Rate 7%
$568,900
Cap Rate 9%
$442,478
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,823 @ 7.0% cap · market cap 6.69%
Second Best
Industrial
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 2.51%
Theoretical Best
Multifamily LT 5
$36.63M
$32.05M – $42.73M
NOI $2,563,765 @ 7.0% cap · market cap 430.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Industrial property - Versatile commercial property in Richmond's vibrant Downtown Historic District.
Where is this industrial property located?
The property is located at 105 S 2nd St Richmond, TX.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Prime location in the vibrant Downtown Richmond Historic District, offering high visibility and foot traffic.; Versatile 2,940 sq ft mixed‑use building suitable for various business types.; Ample parking with **20 designated spaces**, including 14 gated for enhanced security, plus 6 street‑side spaces.
