Insulated Industrial Building with
For Sale
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18120 W Bellfort Building I, Richmond, TX 77407
5,950 SF insulated industrial building with climate-controlled warehouse and office.
Property Size5,950 SF
Price / SF$210.08
Days on Market198
Property Features for 18120 W Bellfort Building I
General Information
Standard status
Active
Size
5,950 SF
Class
A
Property subtype
Industrial, Special Purpose
Zoning
SN
Building Details
Year Built
2024
Listing Agency:
Texas Premier Realty & Property Management
(832) 541-0263
Listed By:
Jauhar Mahmood · License #TX628913
Source:
Crexi
Added: Jan 25
Changed: Aug 8
Last Checked: Jul 19 at 6:28AM
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 Texas Premier Realty & Property Management
Investment Insights
Based on property information with market context.
Building I at 18120 West Bellfort Street is a fully insulated metal industrial building offering approximately 5,950 square feet of total space, including approximately 400 square feet of finished office. The warehouse features approximately 20-foot clear ceiling height, making it suitable for a wide range of industrial, service, storage, and distribution uses. The building is equipped with a recently installed HVAC system throughout the entire warehouse and office area, providing climate-controlled functionality. This allows for greater flexibility of use, including businesses that require temperature-controlled operations. The property offers direct access from West Bellfort Street with on-site parking and easy truck access. It is located in a strong growth corridor near the Grand Parkway (TX■99) and surrounded by expanding residential and commercial developments in the Richmond and Aliana areas. The property has no MUD tax and a favorable property tax rate, which significantly reduces operating costs for owner-users and investors. The building is well-suited for contractors, medical supply, light manufacturing, e-commerce, or service-oriented businesses seeking a functional industrial facility in a rapidly developing submarket.
Key Highlights
- Climate‑controlled warehouse and office space due to recently installed HVAC system throughout.
- Excellent location in a strong growth corridor near the Grand Parkway (TX‑99).
- Significant operating cost savings due to no MUD tax and a favorable property tax rate.
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
$36,774
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
2.94%
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%
$735,480
$735.5K
Cap Rate 7%
$525,343
$525.3K
Cap Rate 9%
$408,600
$408.6K
Market Conditions
NOI Build-Up for 5,950 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
$46.2K $7.76/SF
− Vacancy
−$2.9K −$0.49/SF
EGI
$43.3K $7.27/SF
− OpEx
−$6.5K −$1.09/SF
NOI
$36.8K $6.18/SF
Area
Fort Bend County, TX
Vacancy
6.30%
Lease Rate
$7.76 /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%
$735,480
Cap Rate 7%
$525,343
Cap Rate 9%
$408,600
Alternative Uses
Best Use
Warehouse
$525.3K
$459.7K – $612.9K
NOI $36,774 @ 7.0% cap · market cap 2.94%
Second Best
Industrial
$432.6K
$378.6K – $504.7K
NOI $30,284 @ 7.0% cap · market cap 2.42%
Theoretical Best
Multifamily LT 5
$74.12M
$64.86M – $86.48M
NOI $5,188,572 @ 7.0% cap · market cap 415.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77407, TX
74,657
Population
25,284
Households
3
Avg Household Size
34
Median Age
53%
College-Educated
91%
High-School Grad
20.0 sq mi
ZIP Area
3,733
Density / Sq Mi
$101,595
Median Household Income
$51,273
Median Earnings
$1,993
Median Rent
$353,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 5,950 SF insulated industrial building with climate-controlled warehouse and office.
Where is this flex space located?
The property is located at 18120 W Bellfort Building I Richmond, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Climate‑controlled warehouse and office space due to recently installed HVAC system throughout.; Excellent location in a strong growth corridor near the Grand Parkway (TX‑99).; Significant operating cost savings due to no MUD tax and a favorable property tax rate.
