Flex Building with Warehouse
For Sale
$299,900
5908 FM 517 Road East, Dickinson, TX 77539
Brick commercial building with office areas, a reception setting, support amenities, storage, and customer parking.
Property Size1,720 SF
Days on Market195
Property Features for 5908 FM 517 Road East
General Information
Standard status
Active
Size
1,720 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
1,000 SF
Building Details
Building Size
1,720 SF
Construction
brick
Listing Agency:
Brockway Commercial
(832) 547-4054
Listed By:
Houston Wier · License #687516
(832) 547-4054
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 3:08AM
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 Brockway Commercial
Investment Insights
Based on property information with market context.
This brick flex property combines a front-facing entry with an open reception area, multiple office rooms, and support space for day-to-day operations. The office layout can accommodate four offices or be arranged as three offices with a conference room. A restroom, kitchen and break area, warehouse, and storage space are also included. The warehouse measures about 1000 sq. ft. and features substantial electrical outlet capacity and bright lighting.
Customer parking is positioned in front of the building. The property is located along FM 517 Road East in San Leon, with access to I-45 and 146. Its combination of office, warehouse, and storage areas supports a range of flex-space configurations.
Customer parking is positioned in front of the building. The property is located along FM 517 Road East in San Leon, with access to I-45 and 146. Its combination of office, warehouse, and storage areas supports a range of flex-space configurations.
Key Highlights
- About 1000 sq. ft. of warehouse space
- Flexible layout with 4 offices or 3 offices and a conference room
- Open reception area with front entry
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
$22,019
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
7.34%
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%
$440,380
$440.4K
Cap Rate 7%
$314,557
$314.6K
Cap Rate 9%
$244,656
$244.7K
Market Conditions
NOI Build-Up for 1,720 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
$39.8K $23.16/SF
− Vacancy
−$10.5K −$6.09/SF
EGI
$29.4K $17.07/SF
− OpEx
−$7.3K −$4.27/SF
NOI
$22.0K $12.80/SF
Area
Galveston County, TX
Vacancy
26.30%
Lease Rate
$23.16 /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%
$440,380
Cap Rate 7%
$314,557
Cap Rate 9%
$244,656
Alternative Uses
Best Use
Office B
$314.6K
$275.2K – $367.0K
NOI $22,019 @ 7.0% cap · market cap 7.34%
Second Best
Warehouse
$151.9K
$132.9K – $177.2K
NOI $10,630 @ 7.0% cap · market cap 3.54%
Theoretical Best
Multifamily LT 5
$19.28M
$16.87M – $22.50M
NOI $1,349,862 @ 7.0% cap · market cap 450.10%
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
49
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77539, TX
48,183
Population
18,725
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
84%
High-School Grad
48.4 sq mi
ZIP Area
996
Density / Sq Mi
$85,263
Median Household Income
$49,580
Median Earnings
$1,370
Median Rent
$246,400
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 - Brick commercial building with office areas, a reception setting, support amenities, storage, and customer parking.
Where is this flex space located?
The property is located at 5908 FM 517 Road East Dickinson, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: About 1000 sq. ft. of warehouse space; Flexible layout with 4 offices or 3 offices and a conference room; Open reception area with front entry
