Flex Space with Detached
For Sale
$475,000
18702 HWY 62 S, Orange, TX 77632
Orange, TX
Property Size1,440 SF
Lot Size0.46 Acres
Price / SF$329.86
Days on Market70
Property Features for 18702 HWY 62 S
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Freestanding, Freeway
Elementary school district
Orangefield ISD
Middle school district
Orangefield ISD
High school district
Orangefield ISD
Subdivision
Orange
Standard status
Active
Size
1,440 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
LITTLE FARMS, SECTION 2, ACRES 0.46, UNNUMBERED LOT
Legal Description
LITTLE FARMS, SECTION 2, ACRES 0.46, UNNUMBERED LOT
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Floors in Building
1
Flooring type
Tile
Building materials
Metal
Roof type
Metal
Listing Agency:
Southeast Texas 1st Realty
(409) 242-8836
Listed By:
Jessica Wyble · License #0675311
(409) 860-3170
Added: Jul 18
Changed: Sep 16
Last Checked: Sep 25 at 11:06PM
MLS# 268629
Copyright © 2026 Beaumont Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines a well-maintained office building with a separate metal shop on approximately 0.46 acres. The office layout includes four private offices, two restrooms, and a kitchen/break area. The detached shop measures 60' x 40' and has four overhead doors for equipment access, storage, fleet maintenance, or warehouse functions. Tile flooring, central air, and electric heating support the office improvements.
Located at 18702 HWY 62 S in Orange, Texas, the property offers highway frontage and convenient access. The combination of enclosed workspace, shop capacity, and yard area supports a range of contractor, service, automotive, and light industrial uses described for the property.
Located at 18702 HWY 62 S in Orange, Texas, the property offers highway frontage and convenient access. The combination of enclosed workspace, shop capacity, and yard area supports a range of contractor, service, automotive, and light industrial uses described for the property.
Key Highlights
- Separate 60' x 40' metal shop with four overhead doors
- Office building includes four private offices, two restrooms, and a kitchen/break area
- Approximately 0.46 acres with office, shop, and yard space
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
$16,680
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
3.51%
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%
$333,600
$333.6K
Cap Rate 7%
$238,286
$238.3K
Cap Rate 9%
$185,333
$185.3K
Market Conditions
NOI Build-Up for 1,440 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
$28.5K $19.80/SF
− Vacancy
−$6.3K −$4.36/SF
EGI
$22.2K $15.44/SF
− OpEx
−$5.6K −$3.86/SF
NOI
$16.7K $11.58/SF
Area
Orange County, TX
Vacancy
22.00%
Lease Rate
$19.80 /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%
$333,600
Cap Rate 7%
$238,286
Cap Rate 9%
$185,333
Alternative Uses
Best Use
Office B
$238.3K
$208.5K – $278.0K
NOI $16,680 @ 7.0% cap · market cap 3.51%
Second Best
Flex RnD
$204.4K
$178.9K – $238.5K
NOI $14,310 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$340.1K
$297.6K – $396.8K
NOI $23,805 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77632, TX
22,487
Population
9,568
Households
2.4
Avg Household Size
41
Median Age
21%
College-Educated
92%
High-School Grad
130.5 sq mi
ZIP Area
172
Density / Sq Mi
$82,828
Median Household Income
$50,807
Median Earnings
$1,037
Median Rent
$184,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 shop improvements provide a practical setup for service, contractor, and light industrial operations.
Where is this flex space located?
The property is located at 18702 HWY 62 S Orange, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Separate 60' x 40' metal shop with four overhead doors; Office building includes four private offices, two restrooms, and a kitchen/break area; Approximately 0.46 acres with office, shop, and yard space
