Office Building for
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12022 Knigge Cemetery Rd, Cypress, TX 77429
Office building offered for sale totaling 30,801 square feet.
Property Size30,801 SF
Price / SF$128.24
Days on Market146
Property Features for 12022 Knigge Cemetery Rd
General Information
Standard status
Active
Size
30,801 SF
Property subtype
Office, Industrial, Special Purpose
Occupancy
90%
Building Details
Tenancy
Multi
Listing Agency:
Advisors Commercial RE
Listed By:
David Hummel · License #TX
(972) 387-0300
Source:
Crexi
Added: Apr 16
Changed: Aug 16
Last Checked: Sep 7 at 11:02AM
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 Advisors Commercial RE
Investment Insights
Based on property information with market context.
This office building is offered for sale and totals 30,801 square feet. It is listed as a 30,801-square-foot office property, positioned for businesses seeking a dedicated office space within a flex/office market.
The property is located at 12022 Knigge Cemetery Rd in Cypress, Texas (77429).
The property is located at 12022 Knigge Cemetery Rd in Cypress, Texas (77429).
Key Highlights
- Office building for sale totaling 30,801 sq ft
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
$264,110
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%
$5,282,200
$5.3M
Cap Rate 7%
$3,773,000
$3.8M
Cap Rate 9%
$2,934,556
$2.9M
Market Conditions
NOI Build-Up for 30,801 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
$406.6K $13.20/SF
− Vacancy
−$29.3K −$0.95/SF
EGI
$377.3K $12.25/SF
− OpEx
−$113.2K −$3.67/SF
NOI
$264.1K $8.57/SF
Area
Harris County, TX
Vacancy
7.20%
Lease Rate
$13.20 /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%
$5,282,200
Cap Rate 7%
$3,773,000
Cap Rate 9%
$2,934,556
Alternative Uses
Best Use
Industrial
$3.77M
$3.30M – $4.40M
NOI $264,110 @ 7.0% cap · market cap 6.69%
Second Best
Flex RnD
$2.09M
$1.83M – $2.44M
NOI $146,323 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$8.41M
$7.36M – $9.81M
NOI $588,718 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77429, TX
94,176
Population
33,137
Households
2.8
Avg Household Size
36
Median Age
49%
College-Educated
93%
High-School Grad
37.8 sq mi
ZIP Area
2,491
Density / Sq Mi
$117,931
Median Household Income
$60,862
Median Earnings
$1,684
Median Rent
$342,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office building offered for sale totaling 30,801 square feet.
Where is this flex space located?
The property is located at 12022 Knigge Cemetery Rd Cypress, TX.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Office building for sale totaling 30,801 sq ft
