New Industrial Flex
For Sale
Contact for pricing
17977 Shaw Rd Bldg E, Cypress, TX 77429
New 2024 delivery flex warehouse shell with six 14’ x 12’ grade level overhead doors.
Property Size10,075 SF
Price / SF$192.32
Days on Market40
Property Features for 17977 Shaw Rd Bldg E
General Information
Standard status
Active
Size
10,075 SF
Property subtype
Industrial
Occupancy
66%
Investment Type
Stabilized
Net Operating Income
$95,962
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Clark Gaines Properties
Listed By:
Nathan Gaines · License #TX
(713) 204-8334
Source:
Crexi
Added: Jul 27
Changed: Sep 3
Last Checked: Sep 1 at 9:22PM
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 Clark Gaines Properties
Investment Insights
Based on property information with market context.
New construction slated for 2024 Q1 delivery. The facility is delivered in shell condition with office to suit, and includes spaces ranging from 1,680 SF to 10,075 SF. The warehouse features (6) 14’ H x 12’ W grade level overhead doors, supporting straightforward loading and distribution needs.
Set within a business park setting, the property is conveniently located minutes from SH 249 and Grand Parkway, offering practical regional access for day-to-day operations.
This offering is best suited for users seeking a newly delivered industrial flex/warehouse building where office improvements can be tailored after delivery.
Set within a business park setting, the property is conveniently located minutes from SH 249 and Grand Parkway, offering practical regional access for day-to-day operations.
This offering is best suited for users seeking a newly delivered industrial flex/warehouse building where office improvements can be tailored after delivery.
Key Highlights
- New construction with 2024 Q1 delivery
- Flex warehouse shell delivered in shell condition (office to suit)
- Available spaces range from 1,680 SF to 10,075 SF
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
$104,903
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
5.41%
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%
$2,098,060
$2.1M
Cap Rate 7%
$1,498,614
$1.5M
Cap Rate 9%
$1,165,589
$1.2M
Market Conditions
NOI Build-Up for 10,075 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
$133.0K $13.20/SF
− Vacancy
−$9.6K −$0.95/SF
EGI
$123.4K $12.25/SF
− OpEx
−$18.5K −$1.84/SF
NOI
$104.9K $10.41/SF
Area
Harris County, TX
Vacancy
7.20%
Lease Rate
$13.20 /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%
$2,098,060
Cap Rate 7%
$1,498,614
Cap Rate 9%
$1,165,589
Alternative Uses
Best Use
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,903 @ 7.0% cap · market cap 5.41%
Second Best
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,390 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,570 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77429, TX
94,176
Population
33,137
Households
2.8
Avg Household Size
36
Median Age
49%
College-Educated
93%
High-School Grad
37.8 sq mi
ZIP Area
2,491
Density / Sq Mi
$117,931
Median Household Income
$60,862
Median Earnings
$1,684
Median Rent
$342,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - New 2024 delivery flex warehouse shell with six 14’ x 12’ grade level overhead doors.
Where is this flex space located?
The property is located at 17977 Shaw Rd Bldg E Cypress, TX.
What is the asking price?
The asking price for this property is $1,937,600.
What are key features of this property?
This property features: New construction with 2024 Q1 delivery; Flex warehouse shell delivered in shell condition (office to suit); Available spaces range from 1,680 SF to 10,075 SF
