Office-Warehouse Live/Work
For Sale
$2,200,000
1231 Pruitt Road, Spring, TX 77380
Two-story office and warehouse setup with conference rooms, full kitchen, multiple offices, and large parking.
Property Size8,640 SF
Lot Size5.50 Acres
Price / SF$254.63
Days on Market148
Property Features for 1231 Pruitt Road
General Information
Standard status
Active
Size
8,640 SF
Lot size
5.50 Acres
Property subtype
Farm / Detached
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
6
Taxes and HOA fees
Annual Taxes
$6,118
Amenities
Full Kitchen
Conference Room
Computer/Tech Room
Executive Offices
Two
Central Air, Electric
Central, Electric
2
Tile, Wood
Entry Foyer, Game Room, Office
Dishwasher, Electric Cooktop, Electric Oven, Free Standing Range, Microwave, Oven, Refrigerator
Yes
13
1
4
5
Window Coverings
Window Treatments
No
House
Guest House, Sheds
Smoke Detectors
Slab
Other, Stone
Building Details
Year Built
1983
Listing Agency:
eXp Realty LLC
(281) 723-3336
Listed By:
Bill Smith · License #0291078
(281) 723-3336
Source:
Compass
Added: Mar 13
Changed: Aug 7
Last Checked: Aug 7 at 7:36AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
The offering includes 1227 & 1231 Pruitt and features a two-story office building alongside a two-story warehouse building. The office space is currently arranged for workplace use with a conference room for 30 attendees, additional conference areas for 6 and 12, a full kitchen, two large executive offices, and multiple office spaces upstairs next to the conference room. The layout also includes private and additional bathrooms, as well as a computer/tech room. A small 1-bedroom, 1-bath home is also on site and can be used as an office. The warehouse component is configured as a two-story warehouse.
The property is described as being strategically located at the elbow of Interstate 45 and Loop 99 just outside of The Woodlands, in Montgomery County, on a dead-end cul-de-sac. The site includes a large parking lot and is described as unrestricted, with no city or subdivision restrictions mentioned. Independent water supply is provided via a well and septic.
The overall site is described as 5± acres and includes separate tracts identified in the remarks.
The property is described as being strategically located at the elbow of Interstate 45 and Loop 99 just outside of The Woodlands, in Montgomery County, on a dead-end cul-de-sac. The site includes a large parking lot and is described as unrestricted, with no city or subdivision restrictions mentioned. Independent water supply is provided via a well and septic.
The overall site is described as 5± acres and includes separate tracts identified in the remarks.
Key Highlights
- Two‑story office/warehouse setup with 3,840 SF office and 4,800 SF warehouse
- Office configuration includes conference rooms for 30, 6, and 12 attendees plus full kitchen
- 5 bedrooms with 5 total bathrooms (1 full and 4 half) and multiple upstairs office 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
$101,290
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
4.60%
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%
$2,025,800
$2.0M
Cap Rate 7%
$1,447,000
$1.4M
Cap Rate 9%
$1,125,444
$1.1M
Market Conditions
NOI Build-Up for 8,640 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
$173.1K $20.04/SF
− Vacancy
−$38.1K −$4.41/SF
EGI
$135.1K $15.63/SF
− OpEx
−$33.8K −$3.91/SF
NOI
$101.3K $11.72/SF
Area
Montgomery County, TX
Vacancy
22.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,025,800
Cap Rate 7%
$1,447,000
Cap Rate 9%
$1,125,444
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,290 @ 7.0% cap · market cap 4.60%
Second Best
Warehouse
$762.8K
$667.5K – $890.0K
NOI $53,399 @ 7.0% cap · market cap 2.43%
Theoretical Best
Specialty Retail
$2.18M
$1.91M – $2.54M
NOI $152,683 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77380, TX
27,651
Population
16,232
Households
1.7
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
2,230
Density / Sq Mi
$84,468
Median Household Income
$51,286
Median Earnings
$1,607
Median Rent
$343,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story office and warehouse setup with conference rooms, full kitchen, multiple offices, and large parking.
Where is this flex space located?
The property is located at 1231 Pruitt Road Spring, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two‑story office/warehouse setup with 3,840 SF office and 4,800 SF warehouse; Office configuration includes conference rooms for 30, 6, and 12 attendees plus full kitchen; 5 bedrooms with 5 total bathrooms (1 full and 4 half) and multiple upstairs office spaces
