Freestanding Office Building in
For Sale
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16610 Sea Lark Rd, Houston, TX 77062
Recently renovated office building near Clear Lake Medical Center.
Property Size6,745 SF
Price / SF$222.39
Days on Market701
Property Features for 16610 Sea Lark Rd
General Information
Standard status
Active
Size
6,745 SF
Class
B
Property subtype
Office
Zoning
No Zoning
Building Details
Year Built
1975
Year Renovated
2019
Buildings
1
Stories
1
Listing Agency:
KW Commercial Houston Clear Lake
Listed By:
Chaundra Hugel Broughton, CCIM · License #667270-SA
(917) 743-6241
Source:
Crexi
Added: Oct 3, 2024
Changed: Sep 2
Last Checked: Sep 1 at 10:48PM
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 KW Commercial Houston Clear Lake
Investment Insights
Based on property information with market context.
The subject property is a freestanding office building situated on Sea Lark Road in Clear Lake, Texas. Located just off El Camino Real, the property offers convenient access to Bay Area Blvd and I-45. Its location provides proximity to Clear Lake Medical Center, the University of Houston-Clear Lake, and NASA’s Johnson Space Center. The building, with a property size of 6745 square feet, has been recently renovated and is suitable for professional office or medical use. Nearby retailers include Kroger, ALDI, HEB, Spec’s, CVS, Walgreens, and Office Depot.
Key Highlights
- Recently renovated for professional office or medical use.
- Prime location in Clear Lake, Texas, just off El Camino Real.
- Convenient access to Bay Area Blvd and I‑45.
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
$78,674
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
5.24%
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%
$1,573,480
$1.6M
Cap Rate 7%
$1,123,914
$1.1M
Cap Rate 9%
$874,156
$874.2K
Market Conditions
NOI Build-Up for 6,745 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
$145.7K $21.60/SF
− Vacancy
−$40.8K −$6.05/SF
EGI
$104.9K $15.55/SF
− OpEx
−$26.2K −$3.89/SF
NOI
$78.7K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$1,573,480
Cap Rate 7%
$1,123,914
Cap Rate 9%
$874,156
Alternative Uses
Best Use
Office B
$1.12M
$983.4K – $1.31M
NOI $78,674 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,410 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 77062, TX
25,095
Population
10,150
Households
2.5
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
5.8 sq mi
ZIP Area
4,327
Density / Sq Mi
$105,824
Median Household Income
$59,776
Median Earnings
$1,376
Median Rent
$280,400
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 - Recently renovated office building near Clear Lake Medical Center.
Where is this office building located?
The property is located at 16610 Sea Lark Rd Houston, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Recently renovated for professional office or medical use.; Prime location in Clear Lake, Texas, just off El Camino Real.; Convenient access to Bay Area Blvd and I‑45.
