Six-Building Small-Bay Warehouse
For Sale
Contact for pricing
19954 Franz Road, Katy, TX 77449
The portfolio combines industrial buildings with grade-level loading and three-phase heavy power.
Property Size41,675 SF
Lot Size3.36 Acres
Price / SF$225.55
Days on Market56
Property Features for 19954 Franz Road
General Information
Standard status
Active
Size
41,675 SF
Class
B
Lot size
3.36 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Net Operating Income
$657,914
Warehouse & Industrial
Drive-In Doors
11
Voltage
480 V
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2018
Year Renovated
2022
Buildings
6
Tenancy
Single
Construction
metal
Listing Agency:
Marcus & Millichap - Dallas
Listed By:
Adam Abushagur · License #TX 661916
(972) 755-5200
Source:
Crexi
Added: Jul 31
Changed: Sep 17
Last Checked: Sep 24 at 9:21AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This six-building warehouse portfolio contains approximately 41,675 square feet of small-bay industrial space across a combined 3.36 acres. Individual buildings range from 4,800 to 10,625 square feet and were developed between 2018 and 2022. Improvements feature metal construction, 18' to 24' clear heights, 11 grade-level doors, and three-phase heavy power ranging from 200 to 400 amps at 480 volts.
The properties are distributed across Hockley, Cypress, Katy, and Houston within Northwest Houston. Access is positioned near Interstate 10, State Highway 99, U.S. Route 290, and Texas State Highway 6, providing proximity to major regional thoroughfares. The portfolio spans three Northwest Houston submarkets and includes a property at 19954 Franz Road in Katy, Texas.
The properties are distributed across Hockley, Cypress, Katy, and Houston within Northwest Houston. Access is positioned near Interstate 10, State Highway 99, U.S. Route 290, and Texas State Highway 6, providing proximity to major regional thoroughfares. The portfolio spans three Northwest Houston submarkets and includes a property at 19954 Franz Road in Katy, Texas.
Key Highlights
- Six‑building portfolio with approximately 41,675 square feet of small‑bay industrial space
- Combined land area of 3.36 acres
- Buildings range from 4,800 to 10,625 square feet
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
$433,927
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
4.62%
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%
$8,678,540
$8.7M
Cap Rate 7%
$6,198,957
$6.2M
Cap Rate 9%
$4,821,411
$4.8M
Market Conditions
NOI Build-Up for 41,675 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
$550.1K $13.20/SF
− Vacancy
−$39.6K −$0.95/SF
EGI
$510.5K $12.25/SF
− OpEx
−$76.6K −$1.84/SF
NOI
$433.9K $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%
$8,678,540
Cap Rate 7%
$6,198,957
Cap Rate 9%
$4,821,411
Alternative Uses
Best Use
Warehouse
$6.20M
$5.42M – $7.23M
NOI $433,927 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.38M
$9.96M – $13.28M
NOI $796,559 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
11
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77449, TX
128,180
Population
40,773
Households
3.1
Avg Household Size
32
Median Age
28%
College-Educated
86%
High-School Grad
27.0 sq mi
ZIP Area
4,747
Density / Sq Mi
$85,934
Median Household Income
$42,015
Median Earnings
$1,755
Median Rent
$236,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Tufstorage — 19934 Franz Rd, Katy, TX 77449
- storage — 19934 Franz Rd, Katy, TX 77449
- Saums Road Self Storage — 19936 Saums Rd, Katy, TX 77449
- Katy Auto Storage — 20090 Franz Rd, Katy, TX 77449
- Katy Boat and RV Storage — 20002 Franz Rd, Katy, TX 77449
Frequently Asked Questions
What type of property is this?
Warehouse - The portfolio combines industrial buildings with grade-level loading and three-phase heavy power.
Where is this warehouse located?
The property is located at 19954 Franz Road Katy, TX.
What is the asking price?
The asking price for this property is $9,400,000.
What are key features of this property?
This property features: Six‑building portfolio with approximately 41,675 square feet of small‑bay industrial space; Combined land area of 3.36 acres; Buildings range from 4,800 to 10,625 square feet
