Two-Story Office
For Sale
$1,995,000
1645 Greens Prairie Road W, College Station, TX 77845
COMMERCIAL - College Station, TX
Property Size5,362 SF
Lot Size0.22 Acres
Price / SF$372.06
Days on Market210
Property Features for 1645 Greens Prairie Road W
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C18
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Highway 6, exit William D Fitch Pkwy. Headed West on William D Fitch Parkway, turn Left onto Arrington Road. Turn Right onto Greens Prairie Rd. Complex and Units will be on your Right
Standard status
Active
APN
1645 Greens Prairie C18
Size
5,362 SF
Lot size
0.22 Acres
Amenities
conference room
kitchen
storage closets
high ceilings
Building Details
Year built
2018
Listing Agency:
Walsh &Mangan Premier RE Group
(979) 690-9977
Listed By:
Morgan Mangan
(979) 587-8626
Added: Jan 15
Changed: Aug 4
Last Checked: Aug 13 at 8:06AM
MLS# 26000641
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2018, this 5,362-square-foot office building provides two levels of professionally configured workspace. The layout includes 13 private offices, a conference room with two walls of windows, and an open bull-pen area on the main floor. Two bathrooms, a working kitchen, and two walk-in storage closets support daily operations, while high ceilings and an industrial-style interior complete the workplace design.
The property sits on a 0.2179-acre lot at 1645 Greens Prairie Road W in College Station, Texas. C18 zoning is in place, and the building offers a combination of private, collaborative, meeting, service, and storage areas within a single office property.
The property sits on a 0.2179-acre lot at 1645 Greens Prairie Road W in College Station, Texas. C18 zoning is in place, and the building offers a combination of private, collaborative, meeting, service, and storage areas within a single office property.
Key Highlights
- 5,362‑square‑foot office building completed in 2018
- 13 private offices across a two‑story layout
- Conference room with two walls of windows
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
$70,517
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
3.53%
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%
$1,410,340
$1.4M
Cap Rate 7%
$1,007,386
$1.0M
Cap Rate 9%
$783,522
$783.5K
Market Conditions
NOI Build-Up for 5,362 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
$112.6K $21.00/SF
− Vacancy
−$18.6K −$3.47/SF
EGI
$94.0K $17.54/SF
− OpEx
−$23.5K −$4.38/SF
NOI
$70.5K $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%
$1,410,340
Cap Rate 7%
$1,007,386
Cap Rate 9%
$783,522
Alternative Uses
Best Use
Office B
$1.01M
$881.5K – $1.18M
NOI $70,517 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,424 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
602
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 building - Flexible professional workspace with private offices, conference facilities, kitchen, storage, and open work areas.
Where is this office building located?
The property is located at 1645 Greens Prairie Road W College Station, TX.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 5,362‑square‑foot office building completed in 2018; 13 private offices across a two‑story layout; Conference room with two walls of windows
