Frontage Flex
For Sale
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21755 I-45 Building 1, Spring, TX 77388
Multi-functional flex space with Commercial / Industrial zoning and direct frontage along Interstate 45 S.
Property Size8,570 SF
Price / SF$200
Days on Market78
Property Features for 21755 I-45 Building 1
General Information
Standard status
Active
Size
8,570 SF
Class
B
Property subtype
Office, Industrial
Zoning
Commercial / Industrial
Lease Type
Gross
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2000
Year Renovated
2023
Buildings
1
Stories
1
Tenancy
Multi
Building Size
8,570 SF
Listing Agency:
SVN | J. Beard Real Estate
Listed By:
Jeff Beard · License #0400693
(281) 367-2220
Source:
Crexi
Added: Aug 6
Changed: Oct 17
Last Checked: Oct 20 at 6:26PM
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 SVN | J. Beard Real Estate
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Investment Insights
Based on property information with market context.
This 8,570 SF flex building combines adaptable commercial space with a multi-functional layout. Constructed in 2000, the property is zoned Commercial / Industrial and is suited to flexible business operations supported by that designation.
The building occupies frontage along Interstate 45 S in Spring, Texas, less than one mile from the Grand Parkway and just north of FM 2920. Its position along the interstate frontage provides a clearly identified transportation-oriented setting for the property.
The building occupies frontage along Interstate 45 S in Spring, Texas, less than one mile from the Grand Parkway and just north of FM 2920. Its position along the interstate frontage provides a clearly identified transportation-oriented setting for the property.
Key Highlights
- 8,570 SF multi‑functional flex building
- Commercial / Industrial zoning
- Frontage along Interstate 45 S
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,252
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,245,040
$2.2M
Cap Rate 7%
$1,603,600
$1.6M
Cap Rate 9%
$1,247,244
$1.2M
Market Conditions
NOI Build-Up for 8,570 SF
Gross rent
$197.5K $23.04/SF
− Vacancy
−$47.8K −$5.58/SF
EGI
$149.7K $17.46/SF
− OpEx
−$37.4K −$4.37/SF
NOI
$112.3K $13.10/SF
Area
Harris County, TX
Vacancy
24.20%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,245,040
Cap Rate 7%
$1,603,600
Cap Rate 9%
$1,247,244
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.87M
NOI $112,252 @ 7.0% cap · market cap 6.55%
Second Best
Industrial
$1.05M
$918.6K – $1.22M
NOI $73,485 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,804 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
960
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Event Elementz — 25444 Aldine Westfield Rd, Spring, TX 77373
- Elm & Magnolia — 206 Magnolia St, Spring, TX 77373
- Jlo's Kitchen Catering — 22526 Spence Park Ct, Spring, TX 77373
Frequently Asked Questions
What type of property is this?
Flex space - Multi-functional flex space with Commercial / Industrial zoning and direct frontage along Interstate 45 S.
Where is this flex space located?
The property is located at 21755 I-45 Building 1 Spring, TX.
What is the asking price?
The asking price for this property is $1,714,000.
What are key features of this property?
This property features: 8,570 SF multi‑functional flex building; Commercial / Industrial zoning; Frontage along Interstate 45 S
