Versatile Retail
For Sale
$1,200,000
119 Old River Rd, Montgomery, TX 77356
A well-maintained, 2003-built building offering ample flexible space and zoning for commercial dog boarding.
Property Size3,960 SF
Price / SF$303.03
Days on Market48
Property Features for 119 Old River Rd
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Retail
Zoning
3
Building Details
Building Size
3,960 SF
Year Built
2003
Listing Agency:
The Commercial Professionals
(713) 614-2670
Listed By:
Adam Olsen, CCIM · License #TX #0642075
Source:
Thecommercialprofessionals
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 11 at 6:43AM
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 The Commercial Professionals
Investment Insights
Based on property information with market context.
This for-sale commercial property includes a 3,960 SF building with modern construction dating to 2003. The existing facilities and infrastructure are in place to support an operational use, with a well-maintained condition and a versatile layout designed to accommodate a range of building needs. The property also allows for customization based on how an owner plans to use the space.
The building is located at 119 Old River Rd in Montgomery, TX 77356. It is situated on land described as well-positioned with excellent visibility, supported by the existing improvements that can support continued use or future redevelopment.
Zoning is identified as commercial dog boarding (zoned 3), which may align well with owner-users or investors seeking a property built to support that type of operation. More broadly, the combination of a relatively recent build date, on-site infrastructure, and flexible interior configuration can support tenants looking for an adaptable commercial footprint, subject to zoning and use requirements.
The building is located at 119 Old River Rd in Montgomery, TX 77356. It is situated on land described as well-positioned with excellent visibility, supported by the existing improvements that can support continued use or future redevelopment.
Zoning is identified as commercial dog boarding (zoned 3), which may align well with owner-users or investors seeking a property built to support that type of operation. More broadly, the combination of a relatively recent build date, on-site infrastructure, and flexible interior configuration can support tenants looking for an adaptable commercial footprint, subject to zoning and use requirements.
Key Highlights
- 3,960 SF commercial building built in 2003
- Zoned for commercial dog boarding (zoned 3)
- Well‑maintained property with existing facilities and infrastructure in place
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
$53,696
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
4.47%
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%
$1,073,920
$1.1M
Cap Rate 7%
$767,086
$767.1K
Cap Rate 9%
$596,622
$596.6K
Market Conditions
NOI Build-Up for 3,960 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
$81.3K $20.52/SF
− Vacancy
−$4.6K −$1.15/SF
EGI
$76.7K $19.37/SF
− OpEx
−$23.0K −$5.81/SF
NOI
$53.7K $13.56/SF
Area
Montgomery County, TX
Vacancy
5.60%
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%
$1,073,920
Cap Rate 7%
$767,086
Cap Rate 9%
$596,622
Alternative Uses
Best Use
Retail
$767.1K
$671.2K – $894.9K
NOI $53,696 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$999.7K
$874.8K – $1.17M
NOI $69,980 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 19%
Dining 15%
Home Improvements & Furnishings 6%
Spec's
Groceries
11,060 visits/mo
0.3 miles
The UPS Store
Shops & Services
3,726 visits/mo
0.4 miles
SUBWAY
Dining
1,607 visits/mo
0.4 miles
City Electric Supply
Home Improvements & Furnishings
1,152 visits/mo
0.2 miles
Verizon
Electronics
923 visits/mo
0.1 miles
Demographics for 77356, TX
32,136
Population
14,982
Households
2.1
Avg Household Size
49
Median Age
44%
College-Educated
95%
High-School Grad
127.1 sq mi
ZIP Area
253
Density / Sq Mi
$113,750
Median Household Income
$55,533
Median Earnings
$1,608
Median Rent
$369,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Retail space - A well-maintained, 2003-built building offering ample flexible space and zoning for commercial dog boarding.
Where is this retail space located?
The property is located at 119 Old River Rd Montgomery, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,960 SF commercial building built in 2003; Zoned for commercial dog boarding (zoned 3); Well‑maintained property with existing facilities and infrastructure in place
