Renovated Warehouse with Fenced
For Sale
Contact for pricing
Pending
15719 Seedling Dr, Houston, TX 77032
Renovated 2,000 SF warehouse with office, restroom, fenced yard.
Property Size2,000 SF
Days on Market171
Property Features for 15719 Seedling Dr
General Information
Standard status
Pending
Size
2,000 SF
Class
C
Property subtype
Industrial
Building Details
Year Built
1982
Year Renovated
2026
Buildings
1
Stories
1
Listing Agency:
RE/MAX SIGNATURE
Listed By:
Schuyler "Sky" Pulford · License #TX 391182
(713) 202-3779
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Jul 24 at 2:30PM
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 RE/MAX SIGNATURE
Investment Insights
Based on property information with market context.
This is a 2,000 square foot renovated warehouse. It includes a small office and restroom. The property is fenced and gated, with lighting. It is located one block from Hardy and minutes from the North Beltway.
Key Highlights
- Renovated 2,000 sqft warehouse
- For lease at $2,250 p/mo or for sale at $265,000
- Fenced/Gated/Lighting
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
$14,721
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
5.56%
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%
$294,420
$294.4K
Cap Rate 7%
$210,300
$210.3K
Cap Rate 9%
$163,567
$163.6K
Market Conditions
NOI Build-Up for 2,000 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
$19.2K $9.60/SF
− Vacancy
−$1.9K −$0.94/SF
EGI
$17.3K $8.66/SF
− OpEx
−$2.6K −$1.30/SF
NOI
$14.7K $7.36/SF
Area
Houston, TX
Vacancy
9.80%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$294,420
Cap Rate 7%
$210,300
Cap Rate 9%
$163,567
Alternative Uses
Best Use
Warehouse
$210.3K
$184.0K – $245.4K
NOI $14,721 @ 7.0% cap · market cap 5.56%
Second Best
Industrial
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$514.3K
$450.0K – $600.0K
NOI $36,000 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77032, TX
13,497
Population
4,843
Households
2.8
Avg Household Size
29
Median Age
8%
College-Educated
64%
High-School Grad
23.1 sq mi
ZIP Area
584
Density / Sq Mi
$36,731
Median Household Income
$30,574
Median Earnings
$1,148
Median Rent
$122,900
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Renovated 2,000 SF warehouse with office, restroom, fenced yard.
Where is this warehouse located?
The property is located at 15719 Seedling Dr Houston, TX.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Renovated 2,000 sqft warehouse; For lease at $2,250 p/mo or for sale at $265,000; Fenced/Gated/Lighting
