Renovated Industrial Warehouse with
For Sale
Contact for pricing
21410 West Hammond Drive, Porter, TX 77365
Recently renovated warehouse on a fenced lot with front office and showroom, new exterior, LED lighting, and epoxy floors.
Property Size20,000 SF
Lot Size1.76 Acres
Price / SF$119.75
Days on Market115
Property Features for 21410 West Hammond Drive
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.76 Acres
Property subtype
Retail, Office, Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Listing Agency:
Cameron Real Estate
Listed By:
Ethan Cameron · License #TX
(832) 579-7713
Source:
Crexi
Added: May 15
Changed: Jul 23
Last Checked: Sep 6 at 7:02PM
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 Cameron Real Estate
Investment Insights
Based on property information with market context.
This recently renovated industrial warehouse is set on a fenced 1.76-acre lot and presents a turn-key interior and exterior upgrade. Improvements include a brand new metal exterior, fresh insulation, LED lighting throughout, and epoxy floors designed for durability. Office and showroom space are built out at the front of the building, providing dedicated customer or administrative area alongside warehouse operations.
The property is positioned for access to major transportation corridors, located just minutes off HWY 59/I69 and south of Grand Parkway 99. It also offers proximity to IAH Airport and Beltway 8, supporting regional distribution and commuting needs.
For tenants or buyers seeking a renovated warehouse with on-site front office/showroom configuration, this facility combines modern building systems and finish upgrades with practical layout for business operations, storage, or distribution.
The property is positioned for access to major transportation corridors, located just minutes off HWY 59/I69 and south of Grand Parkway 99. It also offers proximity to IAH Airport and Beltway 8, supporting regional distribution and commuting needs.
For tenants or buyers seeking a renovated warehouse with on-site front office/showroom configuration, this facility combines modern building systems and finish upgrades with practical layout for business operations, storage, or distribution.
Key Highlights
- 1.76‑acre fenced lot with a recently renovated industrial warehouse building
- New metal exterior, fresh insulation, and LED lighting throughout the warehouse
- Epoxy floors for durable interior flooring
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
$123,609
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
5.16%
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%
$2,472,180
$2.5M
Cap Rate 7%
$1,765,843
$1.8M
Cap Rate 9%
$1,373,433
$1.4M
Market Conditions
NOI Build-Up for 20,000 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
$155.2K $7.76/SF
− Vacancy
−$9.8K −$0.49/SF
EGI
$145.4K $7.27/SF
− OpEx
−$21.8K −$1.09/SF
NOI
$123.6K $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%
$2,472,180
Cap Rate 7%
$1,765,843
Cap Rate 9%
$1,373,433
Alternative Uses
Best Use
Warehouse
$1.77M
$1.55M – $2.06M
NOI $123,609 @ 7.0% cap · market cap 5.16%
Second Best
Industrial
$1.45M
$1.27M – $1.70M
NOI $101,796 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$5.05M
$4.42M – $5.89M
NOI $353,434 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77365, TX
42,086
Population
15,442
Households
2.7
Avg Household Size
34
Median Age
24%
College-Educated
82%
High-School Grad
41.4 sq mi
ZIP Area
1,017
Density / Sq Mi
$96,093
Median Household Income
$50,248
Median Earnings
$1,381
Median Rent
$261,200
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
- Koda’s detailing — 24704 TX-494 Loop, Porter, TX 77365
Frequently Asked Questions
What type of property is this?
Flex space - Recently renovated warehouse on a fenced lot with front office and showroom, new exterior, LED lighting, and epoxy floors.
Where is this flex space located?
The property is located at 21410 West Hammond Drive Porter, TX.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 1.76‑acre fenced lot with a recently renovated industrial warehouse building; New metal exterior, fresh insulation, and LED lighting throughout the warehouse; Epoxy floors for durable interior flooring
