Warehouse with Additional
For Sale
$505,000
1939 Hopper Rd, Houston, TX 77093
Warehouse and office building with development potential near downtown.
Property Size5,128 SF
Lot Size0.43 Acres
Price / SF$157.81
Days on Market139
Property Features for 1939 Hopper Rd
General Information
Standard status
Active
Size
5,128 SF
Lot size
0.43 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,739
Building Details
Building Size
5,128 SF
Year Built
1980
Stories
2
Listing Agency:
KW Commercial Houston Metropolitan
(713) 614-5888
Listed By:
Otto Muniz · License #766823
(713) 614-5888
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 8 at 2:34PM
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 KW Commercial Houston Metropolitan
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 = 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
$37,325
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
7.39%
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%
$746,500
$746.5K
Cap Rate 7%
$533,214
$533.2K
Cap Rate 9%
$414,722
$414.7K
Market Conditions
NOI Build-Up for 3,200 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
$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 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%
$746,500
Cap Rate 7%
$533,214
Cap Rate 9%
$414,722
Alternative Uses
Best Use
Office B
$533.2K
$466.6K – $622.1K
NOI $37,325 @ 7.0% cap · market cap 7.39%
Second Best
Warehouse
$336.5K
$294.4K – $392.6K
NOI $23,553 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$822.9K
$720.0K – $960.0K
NOI $57,600 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Similar Off Market Nearby
- NATION STORAGE LLC. — 1542 Mesquite St, Houston, TX 77093
- David & Son Storage — 11946 Aldine Westfield Rd, Houston, TX 77093
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
