Corner Office Condo with Two-Story
New
For Sale
$975,000
1645 Greens Prairie Rd W Unit 204, College Station, TX 77845
Fully built suite with private offices, conference room, break room, and surface parking directly outside.
Property Size2,815 SF
Price / SF$346.36
Days on Market2
Property Features for 1645 Greens Prairie Rd W Unit 204
General Information
Standard status
Active
Size
2,815 SF
Amenities
two-story reception area
floor-to-ceiling windows
tinted glass
ceiling fans
conference room
open work area
full break room with quartz counters and stainless steel appliances
tiled walk-in shower
luxury vinyl plank flooring
Building Details
Year Built
2018
Listing Agency:
The Arena Group
Listed By:
Ronnie Jimenez
(888) 567-5757
Source:
Doorstephomegroup
Added: Sep 18
Last Checked: Sep 18 at 2:38PM
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 The Arena Group
Investment Insights
Based on property information with market context.
Suite 204 is a 2,815-square-foot corner office condo built in 2018 and maintained in fully finished condition. The entry reception area rises two stories and features floor-to-ceiling windows on two sides with tinted glass. The layout includes multiple private offices, a conference room, open work space, a full break room with quartz countertops and full-size stainless appliances, and a bathroom with a tiled walk-in shower. Luxury vinyl plank flooring and ceiling fans are installed throughout the office areas.
The property is located at 1645 Greens Prairie Road West in south College Station. Surface parking is positioned immediately outside the suite. Casa do Brasil, Marfa, Mr. G's Southside Italian Cafe, Blue Baker, and La Bodega are within walking distance, while H-E-B, Starbucks, and Dutch Bros are a short drive away. Texas A&M is accessible via Highway 6.
The property is located at 1645 Greens Prairie Road West in south College Station. Surface parking is positioned immediately outside the suite. Casa do Brasil, Marfa, Mr. G's Southside Italian Cafe, Blue Baker, and La Bodega are within walking distance, while H-E-B, Starbucks, and Dutch Bros are a short drive away. Texas A&M is accessible via Highway 6.
Key Highlights
- 2,815 SF corner office condo built in 2018
- Two‑story reception area with floor‑to‑ceiling windows on two sides
- Private offices, conference room, and open work area
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
$37,021
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
3.80%
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%
$740,420
$740.4K
Cap Rate 7%
$528,871
$528.9K
Cap Rate 9%
$411,344
$411.3K
Market Conditions
NOI Build-Up for 2,815 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
$59.1K $21.00/SF
− Vacancy
−$9.8K −$3.47/SF
EGI
$49.4K $17.54/SF
− OpEx
−$12.3K −$4.38/SF
NOI
$37.0K $13.15/SF
Area
College Station, TX
Vacancy
16.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$740,420
Cap Rate 7%
$528,871
Cap Rate 9%
$411,344
Alternative Uses
Best Use
Office B
$528.9K
$462.8K – $617.0K
NOI $37,021 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$693.2K
$606.5K – $808.7K
NOI $48,522 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 77845, TX
70,108
Population
31,464
Households
2.2
Avg Household Size
30
Median Age
61%
College-Educated
96%
High-School Grad
142.5 sq mi
ZIP Area
492
Density / Sq Mi
$90,434
Median Household Income
$46,532
Median Earnings
$1,384
Median Rent
$349,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully built suite with private offices, conference room, break room, and surface parking directly outside.
Where is this office units located?
The property is located at 1645 Greens Prairie Rd W Unit 204 College Station, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 2,815 SF corner office condo built in 2018; Two‑story reception area with floor‑to‑ceiling windows on two sides; Private offices, conference room, and open work area
