Improved Commercial
For Sale
Contact for pricing
1810 Strickland Dr, Orange, TX 77630
Improved acreage with an existing building and canopy in a light industrial and retail corridor.
Property Size7,348 SF
Price / SF$141.54
Days on Market120
Property Features for 1810 Strickland Dr
General Information
Standard status
Active
Size
7,348 SF
Property subtype
INDUSTRIAL
Listing Agency:
J.M. Prewitt Company
(409) 658-1189
Listed By:
J Milton Prewitt, SIOR
(409) 658-1189
Source:
Moodyscre
Added: May 5
Changed: Aug 30
Last Checked: Aug 30 at 8:11AM
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 J.M. Prewitt Company
Investment Insights
Based on property information with market context.
This 4.22-acre commercial land property includes 7,348± SF of improvements and a separate 2,300± SF canopy. The existing improvements provide a substantial base for continued use, building repurposing, or future site redevelopment, as supported by the property configuration.
The tract has 58 feet of frontage on Strickland and sits within a light industrial and retail corridor. Access is available to Interstate 10 and Highway 87, with CP Chem Golden Triangle Polymers located nearby. The combination of acreage, existing improvements, covered area, and corridor access creates a flexible commercial land profile.
The tract has 58 feet of frontage on Strickland and sits within a light industrial and retail corridor. Access is available to Interstate 10 and Highway 87, with CP Chem Golden Triangle Polymers located nearby. The combination of acreage, existing improvements, covered area, and corridor access creates a flexible commercial land profile.
Key Highlights
- 4.22± acres of commercial land
- 7,348± SF of existing improvements
- 2,300± SF canopy
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
$85,231
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
8.20%
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%
$1,704,620
$1.7M
Cap Rate 7%
$1,217,586
$1.2M
Cap Rate 9%
$947,011
$947.0K
Market Conditions
NOI Build-Up for 7,348 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
$158.7K $21.60/SF
− Vacancy
−$16.7K −$2.27/SF
EGI
$142.1K $19.33/SF
− OpEx
−$56.8K −$7.73/SF
NOI
$85.2K $11.60/SF
Area
Orange County, TX
Vacancy
10.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,704,620
Cap Rate 7%
$1,217,586
Cap Rate 9%
$947,011
Alternative Uses
Best Use
Healthcare Medical
$1.22M
$1.07M – $1.42M
NOI $85,231 @ 7.0% cap · market cap 8.20%
Second Best
Office B
$1.22M
$1.06M – $1.42M
NOI $85,112 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$1.74M
$1.52M – $2.02M
NOI $121,471 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Explore this area
Business Placement
Demographics for 77630, TX
29,317
Population
13,127
Households
2.2
Avg Household Size
39
Median Age
16%
College-Educated
90%
High-School Grad
95.8 sq mi
ZIP Area
306
Density / Sq Mi
$63,588
Median Household Income
$37,307
Median Earnings
$1,033
Median Rent
$163,700
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?
Commercial land - Improved acreage with an existing building and canopy in a light industrial and retail corridor.
Where is this commercial land located?
The property is located at 1810 Strickland Dr Orange, TX.
What is the asking price?
The asking price for this property is $1,040,000.
What are key features of this property?
This property features: 4.22± acres of commercial land; 7,348± SF of existing improvements; 2,300± SF canopy
