Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Government Office Building For Sale Title is generated by Realmo AI

    1504 E MULBERRY ST, Angleton, TX 77515

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Office building leased to the State of Texas available for purchase.

    Type:Office
    Property size:
    11,156 SF
    Price / SF:
    $191/SF
    Added:
    May 12, 2026
    Days on Market:
    16
    Last Refresh:
    May 14 at 9:33 pm

    Property Features for 1504 E MULBERRY ST

    General Information

    Standard status
    Active
    Size
    11,156 SF
    Property subtype
    Office

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Brian Corriston
    Brian Corriston

    Listing agent Brian Corriston License #TX 516241

    Listing office Northmarq - Houston

    Listing date May 12, 2026

    Source Crexi

    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 Northmarq - Houston

    HighLights

    • Leased to the State of Texas.
    • Investment‑grade credit rating of AAA by Standard & Poor's.
    • Investment‑grade credit rating of Aaa by Moody's.
    • Fee simple interest acquisition opportunity.
    • Government office building.
    • Built in 1998.

    Overview

    Available for sale is a government office building leased to the State of Texas. The State of Texas has an investment-grade credit rating of AAA by Standard & Poor's and Aaa by Moody's. The property contains 11156 square feet and is located in Angleton, Texas.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $2.07M
    NOI $186,246 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.66M
    NOI $186,246 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.72M
    NOI $186,246 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $330.7k $29.64
    − Vacancy −$82.3k −$7.38
    EGI $248.3k $22.26
    − OpEx −$62.1k −$5.56
    NOI $186.2k $16.69
    11,156 SF · lease $29.64/SF/yr · vacancy 24.90% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $2.66M
    $2.33M – $3.10M (±1% cap)
    NOI $186,246 @ 7.0% cap · market cap 8.72%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $138.98M
    $121.60M – $162.14M (±1% cap)
    NOI $9,728,355 @ 7.0% cap · market cap 455.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Brazoria County Child ... Social Service Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Angleton
    County
    Brazoria
    State
    Texas
    Longitude
    -95.415099
    Latitude
    29.173305

    Nearby Similar for Sale

    • $625,000
      4,818 SF

      Angleton Multifamily Property For Sale

      Well-maintained multifamily property with spacious units and convenient amenities.
      1031 N Chenango Street, Angleton, TX 77515
      View Details
    • $525,000
      5,000 SF

      Angleton Commercial Building For Sale

      Multi-suite commercial building in Angleton, TX, suitable for various purposes.
      105 E Wilkins, Angleton, TX 77515
      View Details
    • $625,000
      4,818 SF

      Angleton Multifamily Property For Sale

      Well-maintained multifamily property with modern amenities and convenient parking.
      1039 N Chenango St., Angleton, TX 77515
      View Details
    • $395,000
      1,600 SF

      Angleton Retail Space on Acreage

      Retail property with expansion potential on 1.1 acres in Angleton.
      1739 E Mulberry, Angleton, TX 77515
      View Details
    • $300,000
      8,088 SF

      Angleton Commercial Property For Sale

      Versatile commercial building in Angleton, TX, suitable for various operations.
      611 N Velasco, Angleton, TX 77515
      View Details
    • $3,000
      1,800 SF

      Angleton Commercial Flex Space Available

      Commercial flex space featuring office, bathroom, and roll-up doors.
      129 N. Front Street, Angleton, TX 77515
      View Details
    • $999,000
      13,968 SF

      Angleton Warehouse on Velasco Highway

      Commercial warehouse property available for sale in Angleton, Texas.
      310 N VELASCO HWY 288B, Angleton, TX 77515
      View Details
    • $222,400
      48,438 SF

      Angleton, TX Land For Sale

      11.12 acre lot with 48,438 square foot warehouse.
      County Road 32, Angleton, TX 77515
      View Details
    • $499,000

      Angleton Multifamily Investment Opportunity

      Eight-unit complex near amenities with revitalization potential.
      708 N Velasco St N, Angleton, TX 77515
      View Details
    • $1,200,000
      1,800 SF

      Versatile Commercial Space for Sale

      Adaptable commercial property with flexible leasing and business options.
      2508-2512 N Velasco Street, Angleton, TX 77515
      View Details
    • $796,000

      Updated Ranch-Style Home on Acres

      Updated ranch home on 12+ acres of scenic countryside.
      3818 County Road 36, Angleton, TX 77515
      View Details
    • $525,000

      Multi-Suite Commercial Building For Sale

      Commercial building with eight suites, ideal for investors.
      1000 N Velasco St, Angleton, TX
      View Details

    FAQs

    What type of property is this?
    Office building - Office building leased to the State of Texas available for purchase.
    Where is this office building located?
    The property is located at 1504 E MULBERRY ST Angleton, TX.
    What is the asking price?
    The asking price for this property is $2,136,000.
    What are key features of this property?
    This property features: Leased to the State of Texas.; Investment‑grade credit rating of AAA by Standard & Poor's.; Investment‑grade credit rating of Aaa by Moody's.
    (832) 368-0374 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Corriston
    Brian Corriston
    Real Estate License ID: TX 516241
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1504 E MULBERRY ST, ANGLETON, TX
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!