Listing Agency: Zann Commercial Brokerage Show Phone

Listed By: Jason Kieschnick · License ##512911 Show Phone

Source: Moodyscre

Added: Aug 13, 2024 Changed: Oct 25 Last Checked: Oct 30 at 5:20PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This is an 8,564 square-foot office building located in Webster, Texas.

Key Highlights

• 8,564 SF office building
• Located in Webster, Texas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$112,173

Cap Rate

3.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,243,460 $2.2M

Cap Rate 7%

$1,602,471 $1.6M

Cap Rate 9%

$1,246,367 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,564 SF

Gross rent

$197.3K $23.04/SF

− Vacancy

−$47.8K −$5.58/SF

EGI

$149.6K $17.46/SF

− OpEx

−$37.4K −$4.37/SF

NOI

$112.2K $13.10/SF

Area

Harris County, TX

Vacancy

24.20%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,243,460

Cap Rate 7%

$1,602,471

Cap Rate 9%

$1,246,367

Alternative Uses

Best Use

Office B

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,173 @ 7.0% cap · market cap 3.40%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.34M

$2.05M – $2.73M (±1% cap)

NOI $163,689 @ 7.0% cap · market cap 4.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Garden Center Plumbing Service Electrical Service Veterinary Clinic Catering Service Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,816

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - 8,564 SF office building in Webster, Texas.

Where is this office building located?

The property is located at 17300 Mercury Drive Webster, TX.

What is the asking price?

The asking price for this property is $3,296,914.

What are key features of this property?

This property features: 8,564 SF office building; Located in Webster, Texas