Lake Conroe Triplex Investment
For Sale
Contact for pricing
14010 Longstreet Road Unit#2, Willis, TX 77318
Triplex near Lake Conroe with income potential and highway access.
Property Size4,098 SF
Price / SF$192.78
Days on Market98
Property Features for 14010 Longstreet Road Unit#2
General Information
Standard status
Active
Size
4,098 SF
Class
A
Property subtype
Multifamily
Zoning
Deed Restrictions
Investment Type
Net Lease
Building Details
Year Built
2025
Stories
2
Units
3
Listing Agency:
Blavesco Ltd
(936) 672-7671
Listed By:
Heather Carlile · License #TX 0443914
Source:
Crexi
Added: May 25
Changed: Aug 8
Last Checked: Aug 29 at 6:45AM
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 Blavesco Ltd
Investment Insights
Based on property information with market context.
The property is located within a gated community of 60 buildings near Lake Conroe, approximately 7 minutes from I-45. This triplex property features three units, each with three bedrooms and 2.5 bathrooms. The units have an open-concept kitchen, granite countertops, and include all appliances. Each unit also includes front and back porches, a private garage, and two dedicated parking spaces. The property offers a live-in-one, rent-two opportunity in a growing area. The location near Lake Conroe, the growing economy, and highway access contribute to rental demand.
Key Highlights
- Live in one unit, rent out the other two for immediate income.
- Located in a secure, gated community near Lake Conroe.
- Turnkey property with all appliances included and ready for tenants.
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
$45,704
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
5.79%
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%
$914,080
$914.1K
Cap Rate 7%
$652,914
$652.9K
Cap Rate 9%
$507,822
$507.8K
Market Conditions
NOI Build-Up for 4,098 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
$69.8K $17.04/SF
− Vacancy
−$4.5K −$1.11/SF
EGI
$65.3K $15.93/SF
− OpEx
−$19.6K −$4.78/SF
NOI
$45.7K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$914,080
Cap Rate 7%
$652,914
Cap Rate 9%
$507,822
Alternative Uses
Best Use
Multifamily LT 5
$652.9K
$571.3K – $761.7K
NOI $45,704 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$615.1K
$538.2K – $717.6K
NOI $43,058 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.03M
$905.2K – $1.21M
NOI $72,419 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 77318, TX
17,518
Population
8,654
Households
2
Avg Household Size
44
Median Age
30%
College-Educated
91%
High-School Grad
37.0 sq mi
ZIP Area
473
Density / Sq Mi
$90,246
Median Household Income
$51,428
Median Earnings
$1,209
Median Rent
$288,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex near Lake Conroe with income potential and highway access.
Where is this triplex located?
The property is located at 14010 Longstreet Road Unit#2 Willis, TX.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Live in one unit, rent out the other two for immediate income.; Located in a secure, gated community near Lake Conroe.; Turnkey property with all appliances included and ready for tenants.
