1939 Hopper Rd, Houston, TX 77093

Building Details

Building Size 5,128 SF More

Year Built 1980 More

Stories 2 More

Listing Agency: Keller Williams Realty Metropolitan

Listed By: Otto Muniz · License TX #766823 Show Phone

Source: Elliman

Added: Mar 24 Changed: Aug 10 Last Checked: Aug 25 at 4:25AM

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Investment Insights

Based on property information with market context.

This property features a 3,200-square-foot metal warehouse and a 1,928-square-foot stone building. Constructed in 1980, the single dwelling includes 2 bedrooms, 1 bathroom, storage space, and central air conditioning. The 18,884-square-foot lot is fenced and provides ample space for additions or parking. The warehouse has a metal roof, while the dwelling has a composition roof. The property is located 15 minutes from downtown, 10 minutes from IAH, and 5 minutes from Keith Weiss Park. It is metered for water and electricity and has no HOA.

Key Highlights

• Two Units: 3,200sf Warehouse and 1,928sf House/Office
• Large Fenced Lot: 18,884sf with Space for Additions/Parking**
• Excellent Location: 15 Mins from Downtown, 10 Mins from IAH, 5 from Keith Weiss Park

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,325

Cap Rate

7.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$746,500 $746.5K

Cap Rate 7%

$533,214 $533.2K

Cap Rate 9%

$414,722 $414.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$69.1K $21.60/SF

− Vacancy

−$19.4K −$6.05/SF

EGI

$49.8K $15.55/SF

− OpEx

−$12.4K −$3.89/SF

NOI

$37.3K $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 Rate 5%

$746,500

Cap Rate 7%

$533,214

Cap Rate 9%

$414,722

Alternative Uses

Best Use

Office B

$533.2K

$466.6K – $622.1K (±1% cap)

NOI $37,325 @ 7.0% cap · market cap 7.39%

Second Best

Warehouse

$336.5K

$294.4K – $392.6K (±1% cap)

NOI $23,553 @ 7.0% cap · market cap 4.66%

Theoretical Best

Office A

$822.9K

$720.0K – $960.0K (±1% cap)

NOI $57,600 @ 7.0% cap · market cap 11.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Pharmacy Daycare Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

580

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 77093, TX

47,736

Population

14,671

Households

3.3

Avg Household Size

31

Median Age

5%

College-Educated

51%

High-School Grad

12.0 sq mi

ZIP Area

3,978

Density / Sq Mi

$41,958

Median Household Income

$28,493

Median Earnings

$1,102

Median Rent

$122,400

Median Home Value

Market

Properties on Market for Warehouses in Houston

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Houston, TX

21.3% 2019

24.5% 2020

25.2% 2021

26% 2022

25.3% 2023

25.5% 2024

24.8% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse and office building with development potential near downtown.

Where is this warehouse located?

The property is located at 1939 Hopper Rd Houston, TX.

What is the asking price?

The asking price for this property is $505,000.

What are key features of this property?

This property features: Two Units: **3,200sf Warehouse and 1,928sf House/Office**; Large Fenced Lot: 18,884sf with Space for Additions/Parking**; Excellent Location: 15 Mins from Downtown, 10 Mins from IAH, 5 from Keith Weiss Park