Turn-Key Mechanic Shop For
For Sale
Contact for pricing
21123 RHODES RD, Spring, TX
Mechanic shop on fenced lot near major roads.
Property Size4,108 SF
Lot Size1.00 Acre
Price / SF$413.83
Days on Market392
Property Features for 21123 RHODES RD
General Information
Standard status
Active
Size
4,108 SF
Lot size
1.00 Acre
Property subtype
RETAIL
Listing Agency:
Texas Prominent Realty, Inc.
(832) 628-5950
Listed By:
Miriam Ramirez · License #9007479
(832) 628-5950
Source:
Moodyscre
Added: Aug 4, 2025
Changed: Aug 8
Last Checked: Aug 29 at 2:23PM
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 Texas Prominent Realty, Inc.
Investment Insights
Based on property information with market context.
This is a turn-key mechanic shop situated on a spacious, fully fenced lot. The property includes its own septic system and private water well. It is conveniently located near major roads, providing easy access to surrounding neighborhoods, retail centers, and community parks. The property benefits from excellent visibility and offers ample space for parking, equipment, or future expansion. Zoned for commercial use, the property is ready for immediate occupancy and is suitable for a variety of automotive or service-related businesses. The location benefits from strong area growth and consistent traffic, positioning it for long-term success. The property size is 4,108 square feet.
Key Highlights
- Turn‑key mechanic shop ready for immediate occupancy.
- Spacious, fully fenced lot with ample space for parking, equipment, or expansion.
- Convenient location near major roads, retail centers, and community parks.
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
$55,703
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
3.28%
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%
$1,114,060
$1.1M
Cap Rate 7%
$795,757
$795.8K
Cap Rate 9%
$618,922
$618.9K
Market Conditions
NOI Build-Up for 4,108 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
$84.3K $20.52/SF
− Vacancy
−$4.7K −$1.15/SF
EGI
$79.6K $19.37/SF
− OpEx
−$23.9K −$5.81/SF
NOI
$55.7K $13.56/SF
Area
Montgomery County, TX
Vacancy
5.60%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
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%
$1,114,060
Cap Rate 7%
$795,757
Cap Rate 9%
$618,922
Alternative Uses
Best Use
Retail
$795.8K
$696.3K – $928.4K
NOI $55,703 @ 7.0% cap · market cap 3.28%
Second Best
Industrial
$298.7K
$261.4K – $348.5K
NOI $20,909 @ 7.0% cap · market cap 1.23%
Theoretical Best
Specialty Retail
$1.04M
$907.4K – $1.21M
NOI $72,595 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
168k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Dining 23%
Shops & Services 20%
Home Improvements & Furnishings 1%
H-E-B
Groceries
89,427 visits/mo
0.2 miles
H-E-B Fuel
Shops & Services
18,114 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
15,892 visits/mo
0.3 miles
Circle K
Shops & Services
13,593 visits/mo
0.2 miles
Shipley Do-Nuts
Dining
5,511 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 247 Tow — 20603 Rhodes Rd, Spring, TX 77388
- Express Oil Change & Tire Engineers — 20611 Kuykendahl Rd, Spring, TX 77379
- Fresh Windshield Replacement Houston — 20708 kuykendahl rd, spring, tx 77379
- G & H Automotive — 21123 Rhodes Rd, Spring, TX 77388
- JC Paint Body — 21123 Rhodes Rd, Spring, TX 77388
Frequently Asked Questions
What type of property is this?
Auto shop - Mechanic shop on fenced lot near major roads.
Where is this auto shop located?
The property is located at 21123 RHODES RD Spring, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Turn‑key mechanic shop ready for immediate occupancy.; Spacious, fully fenced lot with ample space for parking, equipment, or expansion.; Convenient location near major roads, retail centers, and community parks.
