Updated Office Building For
16850 Diana Ln, Houston, TX 77058
For Sale
Contact for pricing
Updated office building with flexible tenancy and parking.
Property Size17,250 SF
Lot Size1.20 Acres
Price / SF$173.91
Days on Market897
Property Features for 16850 Diana Ln
General Information
Standard status
Size
Class
Lot size
Property subtype
Occupancy
Lease Type
Site & Location
Neighborhood
Building Details
Tenancy
Listing Agency:
KW Commercial Houston Clear Lake
Listed By:
Jeff George · License TX #0463308
(281) 336-3122
Source:
Crexi
Added: May 30, 2024
Changed: Aug 8
Last Checked: Apr 11 at 12:01AM
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 KW Commercial Houston Clear Lake
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Investment Insights
Based on property information with market context.
This updated, single-story office building, constructed in 1983, offers 17,250 square feet of space on a 1.20-acre lot. The property features 63 surface parking spaces and 15 covered spaces, resulting in a parking ratio of 4.52 spaces per 1,000 square feet. Currently, the building is occupied by three tenants. The owner is willing to lease back half of the building for a 10-year term, divided into two 5-year terms. This arrangement allows a new owner to lease out or occupy the remaining space, potentially qualifying for an SBA loan or retaining existing tenants. Fully leased at fair market rental rates, the property is projected to generate approximately a 9.5% capitalization rate. There are no zoning restrictions on the property.
Key Highlights
- Projected 9.5% capitalization rate at fair market rental rates.
- Owner willing to lease back half of the building for 10 years (two 5‑year terms).
- No zoning restrictions.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,204
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,024,080
$4.0M
Cap Rate 7%
$2,874,343
$2.9M
Cap Rate 9%
$2,235,600
$2.2M
Market Conditions
NOI Build-Up for 17,250 SF
Gross rent
$372.6K $21.60/SF
− Vacancy
−$104.3K −$6.05/SF
EGI
$268.3K $15.55/SF
− OpEx
−$67.1K −$3.89/SF
NOI
$201.2K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,024,080
Cap Rate 7%
$2,874,343
Cap Rate 9%
$2,235,600
Alternative Uses
Best Use
Office B
$2.87M
$2.52M – $3.35M
NOI $201,204 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.44M
$3.88M – $5.18M
NOI $310,500 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
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Business Placement
Demographics for 77058, TX
19,442
Population
11,203
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
95%
High-School Grad
8.4 sq mi
ZIP Area
2,315
Density / Sq Mi
$66,471
Median Household Income
$51,423
Median Earnings
$1,362
Median Rent
$244,800
Median Home Value
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Market
Properties on Market for Office buildings in Houston
Vacancy Rate% for Office in Houston, TX
Frequently Asked Questions
What type of property is this?
Office building - Updated office building with flexible tenancy and parking.
Where is this office building located?
The property is located at 16850 Diana Ln Houston, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Projected **9.5% capitalization rate** at fair market rental rates.; Owner willing to lease back half of the building for 10 years (two 5‑year terms).; No zoning restrictions.
