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    Multi-Tenant Industrial Asset For Sale Title is generated by Realmo AI

    16820 Lee Rd, Humble, TX 77396

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    For Sale
    $2,700,000

    24,750 SF multi-tenant industrial asset on 2.05 acres.

    Type:Warehouse
    Property size:
    24,750 SF
    Lot size:
    2.05 Acres
    Price / SF:
    $109/SF
    Added:
    Apr 4, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 4 at 8:02 pm

    Property Features for 16820 Lee Rd

    General Information

    Standard status
    Active
    Size
    24,750 SF
    Lot size
    2.05 Acres
    Property subtype
    Warehouse

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Grant Roosma
    Grant Roosma

    Listing agent Grant Roosma License #TX: 841845

    Listing office Houston Office

    Listing date Apr 4, 2026

    Source Marcusmillichap

    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

    HighLights

    • 100% occupancy: enjoy immediate and stable income.
    • $234,000 annualized gross income: a substantial return on investment.
    • Prime location: direct access to Hardy Toll Road and close to George Bush Intercontinental Airport.
    • Value‑add opportunity: potential to convert to triple‑net lease.
    • Below‑average vacancy rate: located in a strong submarket.
    • Industrial features: includes 15‑foot clear height and 300‑amp power.

    Overview

    The property is a 24,750-square-foot multi-tenant industrial asset situated on 2.05 acres of land. This industrial property features 15-foot clear height, 300-amp power, and approximately 16 percent of finished office space. The property is currently 100 percent occupied by two tenants, generating $234,000 in current annualized gross income. The tenants are a significant source of revenue for the property, and their occupancy ensures a stable income stream. The property's occupancy rate and revenue generation make it an attractive investment opportunity. The property's current lease terms present a value-add opportunity for investors, as there is potential to convert to triple-net lease terms. This conversion could increase the property's revenue and attractiveness to potential buyers. The location of the property is also a major advantage, with direct access to the Hardy Toll Road and proximity to George Bush Intercontinental Airport. This prime location provides easy access to major transportation routes and infrastructure. The North Hardy Toll Road submarket, where the property is located, has a below-national-average vacancy rate of 6.3 percent in the first quarter of 2026. The limited supply of multi-tenant industrial properties in the area also contributes to the property's value.
    Location Intelligence

    Current Use by Public Records

    Houston Deli Provisions Big Box & Wholesale Store Alexander Tent Rentals Rental Equipment Company Cakeboard Games Arcade & Gaming Center Brinkman Consulting Marketing & Advertising Cakeboard Designs Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Big Box & Wholesale Store Accounting Firm Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Humble
    County
    Harris
    State
    Texas
    Longitude
    -95.306714
    Latitude
    29.964347

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    FAQs

    What type of property is this?
    Warehouse - 24,750 SF multi-tenant industrial asset on 2.05 acres.
    Where is this warehouse located?
    The property is located at 16820 Lee Rd Humble, TX.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: 100% occupancy: enjoy immediate and stable income.; $234,000 annualized gross income: a substantial return on investment.; Prime location: direct access to Hardy Toll Road and close to George Bush Intercontinental Airport.
    (713) 452-4384
    We can help!
    Listing Contact
    Grant Roosma
    Grant Roosma
    Real Estate License ID: TX: 841845
    Learn More
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    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
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