Flex Space with Fenced
For Sale
Contact for pricing
12122 Knigge Cemetery Road, Cypress, TX 77429
Unrestricted flex space includes a fenced outdoor area and grade-level loading access.
Property Size4,650 SF
Price / SF$247.31
Days on Market17
Property Features for 12122 Knigge Cemetery Road
General Information
Standard status
Active
Size
4,650 SF
Class
B
Property subtype
Office, Mixed Use, Land
Zoning
unrestricted
Lease Type
Gross
Building Details
Year Built
1999
Year Renovated
1999
Buildings
1
Units
1
Listing Agency:
Revko Commercial Real Estate
(832) 748-1283
Listed By:
Jason Pate · License #0496521
Source:
Crexi
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 25 at 3:24PM
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 Revko Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 1999, this 4,650-square-foot flex property offers warehouse functionality with 12'–14' clear height and one 12' x 12' grade-level roll-up door. The property includes a well and septic system, along with a fully fenced yard that supports outdoor storage potential.
The site provides access to US-290, SH 99, FM 1960, and Beltway 8. Unrestricted zoning supports a range of commercial applications, subject to applicable approvals and requirements.
The site provides access to US-290, SH 99, FM 1960, and Beltway 8. Unrestricted zoning supports a range of commercial applications, subject to applicable approvals and requirements.
Key Highlights
- 4,650 SF flex property built in 1999
- 12'–14' warehouse clear height
- One 12' x 12' grade‑level roll‑up door
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
$48,417
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
4.21%
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%
$968,340
$968.3K
Cap Rate 7%
$691,671
$691.7K
Cap Rate 9%
$537,967
$538.0K
Market Conditions
NOI Build-Up for 4,650 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
$61.4K $13.20/SF
− Vacancy
−$4.4K −$0.95/SF
EGI
$57.0K $12.25/SF
− OpEx
−$8.5K −$1.84/SF
NOI
$48.4K $10.41/SF
Area
Harris County, TX
Vacancy
7.20%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
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%
$968,340
Cap Rate 7%
$691,671
Cap Rate 9%
$537,967
Alternative Uses
Best Use
Warehouse
$691.7K
$605.2K – $807.0K
NOI $48,417 @ 7.0% cap · market cap 4.21%
Second Best
Industrial
$569.6K
$498.4K – $664.5K
NOI $39,872 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,878 @ 7.0% cap · market cap 7.73%
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 - Unrestricted flex space includes a fenced outdoor area and grade-level loading access.
Where is this flex space located?
The property is located at 12122 Knigge Cemetery Road Cypress, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,650 SF flex property built in 1999; 12'–14' warehouse clear height; One 12' x 12' grade‑level roll‑up door
