Industrial Property For
For Sale
Contact for pricing
21287 Foster Rd, Spring, TX 77388
24,375 SF industrial property available for purchase.
Property Size24,375 SF
Price / SF$106.26
Days on Market303
Property Features for 21287 Foster Rd
General Information
Standard status
Active
Size
24,375 SF
Property subtype
Industrial
Zoning
NZ
Listing Agency:
Lee & Associates - Houston
(713) 408-8898
Listed By:
Marko Milosavljevic · License #778666
Source:
Crexi
Added: Oct 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:39AM
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 Lee & Associates - Houston
Investment Insights
Based on property information with market context.
This commercial real estate property, categorized as warehouses and industrial, offers 24,375 square feet of space and is currently for sale.
Key Highlights
- No property information was provided to extract selling points.
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
$150,649
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
5.82%
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%
$3,012,980
$3.0M
Cap Rate 7%
$2,152,129
$2.2M
Cap Rate 9%
$1,673,878
$1.7M
Market Conditions
NOI Build-Up for 24,375 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
$189.2K $7.76/SF
− Vacancy
−$11.9K −$0.49/SF
EGI
$177.2K $7.27/SF
− OpEx
−$26.6K −$1.09/SF
NOI
$150.6K $6.18/SF
Area
Montgomery County, TX
Vacancy
6.30%
Lease Rate
$7.76 /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%
$3,012,980
Cap Rate 7%
$2,152,129
Cap Rate 9%
$1,673,878
Alternative Uses
Best Use
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,649 @ 7.0% cap · market cap 5.82%
Second Best
Industrial
$1.77M
$1.55M – $2.07M
NOI $124,063 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$6.15M
$5.38M – $7.18M
NOI $430,747 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77388, TX
51,483
Population
18,924
Households
2.7
Avg Household Size
37
Median Age
34%
College-Educated
92%
High-School Grad
13.4 sq mi
ZIP Area
3,842
Density / Sq Mi
$101,588
Median Household Income
$53,925
Median Earnings
$1,809
Median Rent
$264,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Extra Space Storage — 3325 Spring Cypress Rd, Spring, TX 77388
- Redline Storage — 3139 Spring Cypress Rd, Spring, TX 77388
Frequently Asked Questions
What type of property is this?
Warehouse - 24,375 SF industrial property available for purchase.
Where is this warehouse located?
The property is located at 21287 Foster Rd Spring, TX.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: No property information was provided to extract selling points.
