Flex Space with Outdoor
For Sale
Contact for pricing
1235 Blalock Rd, Houston, TX 77055
Two metal buildings offer adaptable industrial space with paved areas for parking, storage, and day-to-day operations.
Property Size7,004 SF
Price / SF$256
Days on Market188
Property Features for 1235 Blalock Rd
General Information
Standard status
Active
Size
7,004 SF
Property subtype
Industrial, Retail
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Additional Details
Clear Height
15.8 ft
Building Details
Year Built
1977
Buildings
2
Construction
metal
Listing Agency:
Matthews
Listed By:
Dillon Mata · License #823074
Source:
Crexi
Added: Feb 24
Changed: Aug 30
Last Checked: Aug 30 at 5:43AM
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 Matthews
Investment Insights
Based on property information with market context.
This flex-space property includes two metal industrial buildings totaling 7,004 square feet. The larger building contains 4,004 square feet, while the second provides 3,000 square feet. Both structures offer approximately 15.8 feet of clear height, supporting equipment storage and operational needs. Concrete paving serves the frontage of the larger building, and the second building is accompanied by asphalt-paved areas.
The property is situated on Blalock Road in Houston’s Spring Branch submarket, inside the Beltway. Its access network includes Interstate 10, Highway 290, and Beltway 8, connecting the site with Houston employment centers and population areas. The paved exterior areas provide room for parking, outdoor storage, or fleet-related operations. Constructed in 1977, the property is suited to industrial, automotive, contractor, and service-oriented uses identified in the offering information.
The property is situated on Blalock Road in Houston’s Spring Branch submarket, inside the Beltway. Its access network includes Interstate 10, Highway 290, and Beltway 8, connecting the site with Houston employment centers and population areas. The paved exterior areas provide room for parking, outdoor storage, or fleet-related operations. Constructed in 1977, the property is suited to industrial, automotive, contractor, and service-oriented uses identified in the offering information.
Key Highlights
- 7,004 SF across two metal industrial buildings
- Building sizes of 4,004 SF and 3,000 SF
- Approximately 15.8 feet of clear height in each building
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
$72,933
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
4.05%
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%
$1,458,660
$1.5M
Cap Rate 7%
$1,041,900
$1.0M
Cap Rate 9%
$810,367
$810.4K
Market Conditions
NOI Build-Up for 7,004 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
$126.1K $18.00/SF
− Vacancy
−$13.9K −$1.98/SF
EGI
$112.2K $16.02/SF
− OpEx
−$39.3K −$5.61/SF
NOI
$72.9K $10.41/SF
Area
Houston, TX
Vacancy
11.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,458,660
Cap Rate 7%
$1,041,900
Cap Rate 9%
$810,367
Alternative Uses
Best Use
Flex RnD
$1.04M
$911.7K – $1.22M
NOI $72,933 @ 7.0% cap · market cap 4.05%
Second Best
Warehouse
$736.5K
$644.4K – $859.2K
NOI $51,552 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,072 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,114
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77055, TX
42,766
Population
17,845
Households
2.4
Avg Household Size
35
Median Age
40%
College-Educated
78%
High-School Grad
8.4 sq mi
ZIP Area
5,091
Density / Sq Mi
$73,297
Median Household Income
$41,443
Median Earnings
$1,239
Median Rent
$577,800
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two metal buildings offer adaptable industrial space with paved areas for parking, storage, and day-to-day operations.
Where is this flex space located?
The property is located at 1235 Blalock Rd Houston, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 7,004 SF across two metal industrial buildings; Building sizes of 4,004 SF and 3,000 SF; Approximately 15.8 feet of clear height in each building
