Office
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1930 River Falls Dr, Kingwood, TX 77339
Office unit with an established construction date and commercial floor area.
Property Size2,388 SF
Price / SF$272.19
Days on Market79
Property Features for 1930 River Falls Dr
General Information
Standard status
Active
Size
2,388 SF
Class
C
Property subtype
Office
Investment Type
Institutional
Building Details
Year Built
1973
Stories
1
Listing Agency:
First Millennium Realty
(281) 465-9466
Listed By:
Charles Lee · License #TX
Source:
Crexi
Added: Jun 13
Changed: Aug 29
Last Checked: Aug 29 at 3:58PM
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 First Millennium Realty
Investment Insights
Based on property information with market context.
This office unit provides 2,388 square feet of commercial space within a property constructed in 1973. The asset is located at 1930 River Falls Dr in Kingwood, Texas 77339.
Key Highlights
- 2,388 square feet of office space
- Constructed in 1973
- Located at 1930 River Falls Dr, Kingwood, TX 77339
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
$27,854
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
4.29%
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%
$557,080
$557.1K
Cap Rate 7%
$397,914
$397.9K
Cap Rate 9%
$309,489
$309.5K
Market Conditions
NOI Build-Up for 2,388 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
$51.6K $21.60/SF
− Vacancy
−$14.4K −$6.05/SF
EGI
$37.1K $15.55/SF
− OpEx
−$9.3K −$3.89/SF
NOI
$27.9K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$557,080
Cap Rate 7%
$397,914
Cap Rate 9%
$309,489
Alternative Uses
Best Use
Office B
$397.9K
$348.2K – $464.2K
NOI $27,854 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.1K
$537.3K – $716.4K
NOI $42,984 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 77339, TX
43,076
Population
19,104
Households
2.3
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
16.1 sq mi
ZIP Area
2,676
Density / Sq Mi
$84,015
Median Household Income
$50,105
Median Earnings
$1,605
Median Rent
$274,900
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?
Office units - Office unit with an established construction date and commercial floor area.
Where is this office units located?
The property is located at 1930 River Falls Dr Kingwood, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,388 square feet of office space; Constructed in 1973; Located at 1930 River Falls Dr, Kingwood, TX 77339
