Single-Story Office
For Sale
Contact for pricing
12623 Jones Rd, Houston, TX 77070
Remodeled Class B property with private offices, open workspace, conference room, and client-oriented reception areas.
Property Size5,070 SF
Lot Size0.60 Acres
Price / SF$215.98
Days on Market135
Property Features for 12623 Jones Rd
General Information
Standard status
Active
Size
5,070 SF
Class
B
Total Parking Spaces
36
Lot size
0.60 Acres
Property subtype
Office
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
private offices
bullpen/open work area
conference room
lobby
reception area with granite counters
kitchen/break area
private restrooms
Building Details
Year Built
1981
Year Renovated
2016
Buildings
1
Stories
1
Tenancy
Single
Building Size
5,070 SF
Parking Ratio
7.1 per 1,000 SF
Listing Agency:
Marcus & Millichap - Houston
Listed By:
Keith Lloyd · License #TX 307120
Source:
Crexi
Added: Apr 21
Changed: Sep 1
Last Checked: Aug 31 at 11:46PM
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 Marcus & Millichap - Houston
Investment Insights
Based on property information with market context.
Remodeled in 2016, this 5,070-square-foot Class B office building was constructed in 1981 and occupies approximately 0.6 acres. The single-story layout includes multiple private offices, an open bullpen area, conference room, lobby, reception with granite counters, kitchen and break space, and private restrooms. The configuration supports medical, professional office, legal, insurance, education, and childcare-related operations.
Approximately 36 surface parking spaces provide a ratio of roughly 7.1 spaces per 1,000 square feet. The property has approximately 105 feet of frontage on Jones Road, with access to FM 1960, Hwy 249, and Hwy 290. Jones Road carries reported daily traffic of 35,022 vehicles. The surrounding area includes established neighborhoods, retail centers, office and medical developments, Hewlett-Packard facilities, Methodist Willowbrook Hospital, St. Luke’s at The Vintage, and Vintage Park retail and dining.
Approximately 36 surface parking spaces provide a ratio of roughly 7.1 spaces per 1,000 square feet. The property has approximately 105 feet of frontage on Jones Road, with access to FM 1960, Hwy 249, and Hwy 290. Jones Road carries reported daily traffic of 35,022 vehicles. The surrounding area includes established neighborhoods, retail centers, office and medical developments, Hewlett-Packard facilities, Methodist Willowbrook Hospital, St. Luke’s at The Vintage, and Vintage Park retail and dining.
Key Highlights
- 5,070 SF single‑story Class B office and medical building
- Approximately 0.6‑acre site with 105 feet of frontage on Jones Road
- Remodeled in 2016; originally constructed in 1981
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
$68,993
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
6.30%
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%
$1,379,860
$1.4M
Cap Rate 7%
$985,614
$985.6K
Cap Rate 9%
$766,589
$766.6K
Market Conditions
NOI Build-Up for 5,070 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
$127.8K $25.20/SF
− Vacancy
−$12.8K −$2.52/SF
EGI
$115.0K $22.68/SF
− OpEx
−$46.0K −$9.07/SF
NOI
$69.0K $13.61/SF
Area
Houston, TX
Vacancy
10.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$1,379,860
Cap Rate 7%
$985,614
Cap Rate 9%
$766,589
Alternative Uses
Best Use
Healthcare Medical
$985.6K
$862.4K – $1.15M
NOI $68,993 @ 7.0% cap · market cap 6.30%
Second Best
Office B
$844.8K
$739.2K – $985.6K
NOI $59,136 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,260 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 77070, TX
52,943
Population
23,272
Households
2.3
Avg Household Size
36
Median Age
38%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
4,073
Density / Sq Mi
$72,440
Median Household Income
$44,073
Median Earnings
$1,571
Median Rent
$264,300
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Remodeled Class B property with private offices, open workspace, conference room, and client-oriented reception areas.
Where is this office building located?
The property is located at 12623 Jones Rd Houston, TX.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 5,070 SF single‑story Class B office and medical building; Approximately 0.6‑acre site with 105 feet of frontage on Jones Road; Remodeled in 2016; originally constructed in 1981
