Live-Work Office
For Sale
Contact for pricing
408 Wilson Rd, Conroe, TX 77301
Recently renovated live-work property with paved parking and a spacious backyard on an 11,000+ square-foot lot.
Property Size2,100 SF
Lot Size0.25 Acres
Price / SF$189.52
Days on Market174
Property Features for 408 Wilson Rd
General Information
Standard status
Active
Size
2,100 SF
Lot size
0.25 Acres
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Renovated
1
Listing Agency:
eXp Realty
(888) 519-7431
Listed By:
Bill Smith · License #291078
(281) 723-3336
Source:
Moodyscre
Added: Mar 16
Changed: Aug 23
Last Checked: Aug 14 at 7:51AM
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
Investment Insights
Based on property information with market context.
This recently renovated live-work property includes a flexible interior that has most recently operated as a commercial office and previously as a salon. The home sits on an 11,000+ square-foot lot and features a spacious backyard with room for potential expansion, along with a paved parking area designed to support both residential and commercial needs.
The property is located in Conroe and is described as being less than 1 mile from I-45, with close proximity to the Montgomery County Courthouse and Downtown Conroe Square. Easy access to The Woodlands, Houston, and surrounding communities is also noted in the remarks.
With its on-site outdoor space and paved parking, the property may fit buyers seeking a combined live and work configuration, supported by recent renovations and a layout accommodating office use.
The property is located in Conroe and is described as being less than 1 mile from I-45, with close proximity to the Montgomery County Courthouse and Downtown Conroe Square. Easy access to The Woodlands, Houston, and surrounding communities is also noted in the remarks.
With its on-site outdoor space and paved parking, the property may fit buyers seeking a combined live and work configuration, supported by recent renovations and a layout accommodating office use.
Key Highlights
- Recently renovated 2,100 SF live‑work property in Conroe with flexible residential or commercial use
- Over 11,000 SF lot with a spacious backyard for expansion or customization
- Paved parking area sized for residential and commercial needs
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
$24,619
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
6.19%
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%
$492,380
$492.4K
Cap Rate 7%
$351,700
$351.7K
Cap Rate 9%
$273,544
$273.5K
Market Conditions
NOI Build-Up for 2,100 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
$42.1K $20.04/SF
− Vacancy
−$9.3K −$4.41/SF
EGI
$32.8K $15.63/SF
− OpEx
−$8.2K −$3.91/SF
NOI
$24.6K $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%
$492,380
Cap Rate 7%
$351,700
Cap Rate 9%
$273,544
Alternative Uses
Best Use
Office B
$351.7K
$307.7K – $410.3K
NOI $24,619 @ 7.0% cap · market cap 6.19%
Second Best
Mixed Use
$310.5K
$271.7K – $362.3K
NOI $21,735 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$530.2K
$463.9K – $618.5K
NOI $37,111 @ 7.0% cap · market cap 9.32%
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
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 77301, TX
35,923
Population
12,854
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
75%
High-School Grad
20.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$64,885
Median Household Income
$35,575
Median Earnings
$1,229
Median Rent
$193,500
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?
Live-work space - Recently renovated live-work property with paved parking and a spacious backyard on an 11,000+ square-foot lot.
Where is this live-work space located?
The property is located at 408 Wilson Rd Conroe, TX.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Recently renovated 2,100 SF live‑work property in Conroe with flexible residential or commercial use; Over 11,000 SF lot with a spacious backyard for expansion or customization; Paved parking area sized for residential and commercial needs
