Flex Space with Grade-Level
For Sale
Contact for pricing
17977 Shaw Rd, Cypress, TX 77429
Office and warehouse areas are paired with multiple grade-level overhead doors.
Property Size10,075 SF
Price / SF$192.32
Days on Market13
Property Features for 17977 Shaw Rd
General Information
Standard status
Active
Size
10,075 SF
Property subtype
INDUSTRIAL
Occupancy
66%
Net Operating Income
$95,961
Additional Details
Drive-In Doors
6
Building Details
Buildings
1
Building Size
10,075 SF
Listing Agency:
Clark Gaines Properties
(713) 204-8334
Listed By:
Nathan Gaines, CCIM, SIOR
(713) 204-8334
Source:
Moodyscre
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 21 at 2:49PM
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.
Building E at 17977 Shaw Rd combines office and warehouse space within a 10,075 SF commercial building. The property includes six grade-level overhead doors measuring 14’x12’ W, supporting practical loading and access for industrial or flex-space operations.
Located in Cypress along the 249 Corridor, the building is 66% leased. The leased portion reflects a 7.2 cap rate, providing an existing occupancy and income profile for review.
Located in Cypress along the 249 Corridor, the building is 66% leased. The leased portion reflects a 7.2 cap rate, providing an existing occupancy and income profile for review.
Key Highlights
- 10,075 SF office warehouse
- Six 14’x12’ W grade‑level overhead doors
- 66% leased
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
$131,965
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
6.81%
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%
$2,639,300
$2.6M
Cap Rate 7%
$1,885,214
$1.9M
Cap Rate 9%
$1,466,278
$1.5M
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
$232.1K $23.04/SF
− Vacancy
−$56.2K −$5.58/SF
EGI
$176.0K $17.46/SF
− OpEx
−$44.0K −$4.37/SF
NOI
$132.0K $13.10/SF
Area
Harris County, TX
Vacancy
24.20%
Lease Rate
$23.04 /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%
$2,639,300
Cap Rate 7%
$1,885,214
Cap Rate 9%
$1,466,278
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $131,965 @ 7.0% cap · market cap 6.81%
Second Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,903 @ 7.0% cap · market cap 5.41%
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
Lease Details
6
Drive-in doors
66%
Occupancy
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas are paired with multiple grade-level overhead doors.
Where is this flex space located?
The property is located at 17977 Shaw Rd 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: 10,075 SF office warehouse; Six 14’x12’ W grade‑level overhead doors; 66% leased
