Single-Tenant Warehouse with Outdoor
New
For Sale
$1,375,000
15520 Lee Rd, Humble, TX 77396
Fenced industrial storage, updated units, and grade-level loading support the existing commercial truck service operation.
Property Size8,300 SF
Lot Size1.07 Acres
Price / SF$165.66
Days on Market3
Property Features for 15520 Lee Rd
General Information
Standard status
Active
Size
8,300 SF
Lot size
1.07 Acres
Property subtype
Warehouse
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
5
Additional Details
Cap Rate
7.01%
Amenities
Single-Tenant 8,300-Square-Foot Industrial Building Situated on 1.07 Acres
Featuring Metal Construction, Three Updated Units, 14' Clear Height, Five Grade Doors, & 16% Building Coverage Ratio, Providing Ample Fenced-in IOS
NNN Lease at $11.61/SF Through November 2031 with 5% Escalations, Generating Initial 7.01% Cap Rate
100% Occupied by Eagles Fleet Service, Full-Service Commercial Truck & Trailer Repair Company with 24/7 Diesel Truck Mobile Mechanic
Located Less than One Mile from I-69 & Beltway 8 Interchange in Close Proximity to George Bush Intercontinental Airport
Building Details
Building Size
8,300 SF
Year Built
2000
Buildings
1
Construction
metal
Tenancy
Single
Listing Agency:
Houston Office
Listed By:
Grant Roosma · License #License(s): TX: 841845
(713) 452-4384
Source:
Marcusmillichap
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 4:39AM
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 Houston Office
Investment Insights
Based on property information with market context.
This single-tenant warehouse property in Humble includes approximately 8,300 square feet of industrial space on 1.07 acres. The 2000-built metal building contains three updated units, 14-foot clear height, and five grade-level doors. A 16 percent building coverage ratio leaves substantial fenced outdoor industrial storage area on the site.
The property is located at 15520 Lee Road, less than one mile from the Interstate 69 and Beltway 8 interchange. George Bush Intercontinental Airport is also nearby, providing access to regional transportation infrastructure. Eagles Fleet Service occupies the building under a triple-net lease extending through November 2031, with 5.0 percent annual escalations and an initial 7.01 percent cap rate. The tenant provides commercial truck and trailer repair along with 24/7 diesel truck mobile mechanic services.
The property is located at 15520 Lee Road, less than one mile from the Interstate 69 and Beltway 8 interchange. George Bush Intercontinental Airport is also nearby, providing access to regional transportation infrastructure. Eagles Fleet Service occupies the building under a triple-net lease extending through November 2031, with 5.0 percent annual escalations and an initial 7.01 percent cap rate. The tenant provides commercial truck and trailer repair along with 24/7 diesel truck mobile mechanic services.
Key Highlights
- Approximately 8,300 square feet of industrial space on 1.07 acres
- Three updated units in a metal building constructed in 2000
- 14' clear height with five grade‑level doors
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
$98,619
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
7.17%
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%
$1,972,380
$2.0M
Cap Rate 7%
$1,408,843
$1.4M
Cap Rate 9%
$1,095,767
$1.1M
Market Conditions
NOI Build-Up for 8,300 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
$149.4K $18.00/SF
− Vacancy
−$8.5K −$1.03/SF
EGI
$140.9K $16.97/SF
− OpEx
−$42.3K −$5.09/SF
NOI
$98.6K $11.88/SF
Area
Harris County, TX
Vacancy
5.70%
Lease Rate
$18.00 /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%
$1,972,380
Cap Rate 7%
$1,408,843
Cap Rate 9%
$1,095,767
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,619 @ 7.0% cap · market cap 7.17%
Second Best
Warehouse
$1.23M
$1.08M – $1.44M
NOI $86,421 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,643 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
5
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77396, TX
61,058
Population
20,532
Households
3
Avg Household Size
32
Median Age
25%
College-Educated
83%
High-School Grad
24.9 sq mi
ZIP Area
2,452
Density / Sq Mi
$76,506
Median Household Income
$45,385
Median Earnings
$1,459
Median Rent
$234,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- D&W Self Storage — 14655 Old Humble Rd, Humble, TX 77396
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- My Garage Self Storage — 15450 Lee Rd, Humble, TX 77396
- Bounce Luggage Storage - Houston Airport (George Bush) — 15935 Lee Rd B, Houston, TX 77032
- AAA Affordable Storage — 5880 Greens Rd, Humble, TX 77396
Frequently Asked Questions
What type of property is this?
Warehouse - Fenced industrial storage, updated units, and grade-level loading support the existing commercial truck service operation.
Where is this warehouse located?
The property is located at 15520 Lee Rd Humble, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Approximately 8,300 square feet of industrial space on 1.07 acres; Three updated units in a metal building constructed in 2000; 14' clear height with five grade‑level doors
