Industrial Warehouse with
For Sale
Contact for pricing
19268 Kickapoo Rd, Waller, TX 77484
Flexible industrial facility with rear loading, dedicated office space, and expansion yard availability.
Property Size10,000 SF
Price / SF$140
Days on Market392
Property Features for 19268 Kickapoo Rd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Drive-In Doors
2
Loading
Rear Load
Truck Court Depth
112 ft
Power
400 amps
Voltage
480 V
Three-Phase Power
Yes
Listing Agency:
Lee & Associates
(713) 744-7400
Listed By:
Clint Hankla · License #630029
(832) 684-5301
Source:
Moodyscre
Added: Aug 25, 2025
Changed: Sep 15
Last Checked: Sep 20 at 5:32AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This ±10,000-square-foot industrial facility includes approximately 10% BTS office space, two grade-level overhead doors measuring 12’ x 14’, rear loading, and a 20’ eave height. The layout supports drive-through capability, while an expansion yard is available for additional operational flexibility.
The property is located in a deed-restricted business park 0.50 miles from Highway 290. Site improvements include a 112’ truck apron, offsite detention, well and septic service, and 3-phase, 480-volt, 400-amp electrical service. The property has no city or MUD tax.
The property is located in a deed-restricted business park 0.50 miles from Highway 290. Site improvements include a 112’ truck apron, offsite detention, well and septic service, and 3-phase, 480-volt, 400-amp electrical service. The property has no city or MUD tax.
Key Highlights
- ±10,000 SF total with approximately 10% BTS office space
- Two grade 12’ x 14’ overhead doors with rear loading
- 20’ eave height and drive‑through capability
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
$104,122
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
7.44%
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%
$2,082,440
$2.1M
Cap Rate 7%
$1,487,457
$1.5M
Cap Rate 9%
$1,156,911
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$132.0K $13.20/SF
− Vacancy
−$9.5K −$0.95/SF
EGI
$122.5K $12.25/SF
− OpEx
−$18.4K −$1.84/SF
NOI
$104.1K $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%
$2,082,440
Cap Rate 7%
$1,487,457
Cap Rate 9%
$1,156,911
Alternative Uses
Best Use
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,122 @ 7.0% cap · market cap 7.44%
Second Best
Industrial
$1.22M
$1.07M – $1.43M
NOI $85,747 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,136 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77484, TX
13,449
Population
5,180
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
84%
High-School Grad
151.0 sq mi
ZIP Area
89
Density / Sq Mi
$71,446
Median Household Income
$35,091
Median Earnings
$1,075
Median Rent
$243,400
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 - Flexible industrial facility with rear loading, dedicated office space, and expansion yard availability.
Where is this flex space located?
The property is located at 19268 Kickapoo Rd Waller, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: ±10,000 SF total with approximately 10% BTS office space; Two grade 12’ x 14’ overhead doors with rear loading; 20’ eave height and drive‑through capability
