Freestanding Office with Flexible
For Sale
Contact for pricing
13700 LAKEWOOD FOREST DR, Houston, TX 77070
Neighborhood office property with multiple rooms, dedicated parking, and unrestricted zoning for varied commercial or live/work applications.
Property Size4,024 SF
Price / SF$163.77
Days on Market62
Property Features for 13700 LAKEWOOD FOREST DR
General Information
Standard status
Active
Size
4,024 SF
Class
B
Total Parking Spaces
10
Property subtype
Office, Mixed Use, Special Purpose
Zoning
Unrestricted
Investment Type
Owner/User
Additional Details
Road Access
Yes
Amenities
visible street signage
attractive front entry
spacious backyard
reception/lounge area
conference room
breakroom/kitchen
restrooms
Building Details
Year Built
1982
Year Renovated
2013
Buildings
1
Stories
2
Units
1
Building Size
4,024 SF
Listing Agency:
Walzel Properties LLC
Listed By:
Shayan Malayeri · License #720736-BB
Source:
Crexi
Added: Jul 3
Changed: Sep 2
Last Checked: Sep 1 at 11:31AM
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 Walzel Properties LLC
Investment Insights
Based on property information with market context.
This freestanding office property contains approximately 4,024 SF arranged across 11 rooms or offices, along with a reception and lounge area, conference room, breakroom with kitchen, and multiple restrooms. The building was constructed in 1982 and includes 10 dedicated parking spaces, visible street signage, a front entry, and a spacious backyard.
Positioned in Lakewood Forest adjacent to Moore Elementary School, the property offers access to Grant Road, Jones Road, and Tomball Parkway. Unrestricted zoning supports office, commercial, residential, and live/work use, with the existing configuration accommodating a range of neighborhood-serving operations, including education, tutoring, childcare support, therapy, counseling, professional office, and medical or wellness services.
Positioned in Lakewood Forest adjacent to Moore Elementary School, the property offers access to Grant Road, Jones Road, and Tomball Parkway. Unrestricted zoning supports office, commercial, residential, and live/work use, with the existing configuration accommodating a range of neighborhood-serving operations, including education, tutoring, childcare support, therapy, counseling, professional office, and medical or wellness services.
Key Highlights
- 4,024 SF freestanding office building constructed in 1982
- 11 rooms or offices plus reception, conference, kitchen, and multiple restrooms
- 10 dedicated parking spaces with visible street signage
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
$53,117
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
8.06%
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%
$1,062,340
$1.1M
Cap Rate 7%
$758,814
$758.8K
Cap Rate 9%
$590,189
$590.2K
Market Conditions
NOI Build-Up for 4,024 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
$96.6K $24.00/SF
− Vacancy
−$11.6K −$2.88/SF
EGI
$85.0K $21.12/SF
− OpEx
−$31.9K −$7.92/SF
NOI
$53.1K $13.20/SF
Area
Houston, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,062,340
Cap Rate 7%
$758,814
Cap Rate 9%
$590,189
Alternative Uses
Best Use
Mixed Use
$758.8K
$664.0K – $885.3K
NOI $53,117 @ 7.0% cap · market cap 8.06%
Second Best
Office B
$670.5K
$586.7K – $782.3K
NOI $46,936 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.03M
$905.4K – $1.21M
NOI $72,432 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
338
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 - Neighborhood office property with multiple rooms, dedicated parking, and unrestricted zoning for varied commercial or live/work applications.
Where is this office building located?
The property is located at 13700 LAKEWOOD FOREST DR Houston, TX.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: 4,024 SF freestanding office building constructed in 1982; 11 rooms or offices plus reception, conference, kitchen, and multiple restrooms; 10 dedicated parking spaces with visible street signage
