Versatile Building in Webster,
For Sale
Contact for pricing
218 W NASA RD 1, Webster, TX 77598
Adaptable building suitable for medical, office, flex, or industrial use.
Property Size19,182 SF
Price / SF$161.61
Days on Market155
Property Features for 218 W NASA RD 1
General Information
Standard status
Active
Size
19,182 SF
Class
B
Total Parking Spaces
70
Property subtype
Office
Zoning
NP - NASA Parkway District
Occupancy
20%
Investment Type
Value Add
Building Details
Year Built
1983
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
CBRE - Houston Galleria
Listed By:
Nelson Udstuen · License #TX 299995
(713) 577-1716
Source:
Crexi
Added: May 13
Changed: Oct 7
Last Checked: Oct 12 at 5:48PM
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 CBRE - Houston Galleria
Investment Insights
Based on property information with market context.
This 19,182-square-foot building features a combination of finished medical and general office areas, along with approximately 4,812 square feet of unfinished space that can be divided into two separate units with minimal investment. The property includes 3,316 square feet of owner-occupied medical space and a 3,313-square-foot common area, originally designed for bank use, which can be repurposed into leasable space. The building's flexible design makes it suitable for various medical practices, biotech or laboratory facilities, general office purposes, and flex space users.
Key Highlights
- Versatile building suitable for medical, biotech/lab, general office, and flex users.
- Existing medical space (3,316 SF) provides immediate income potential.
- Significant unfinished space (+/- 4,812 SF) offers customization or subdivision opportunities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$251,250
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,025,000
$5.0M
Cap Rate 7%
$3,589,286
$3.6M
Cap Rate 9%
$2,791,667
$2.8M
Market Conditions
NOI Build-Up for 19,182 SF
Gross rent
$442.0K $23.04/SF
− Vacancy
−$107.0K −$5.58/SF
EGI
$335.0K $17.46/SF
− OpEx
−$83.8K −$4.37/SF
NOI
$251.3K $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%
$5,025,000
Cap Rate 7%
$3,589,286
Cap Rate 9%
$2,791,667
Alternative Uses
Best Use
Healthcare Medical
$4.31M
$3.77M – $5.03M
NOI $301,589 @ 7.0% cap · market cap 9.73%
Second Best
Office B
$3.59M
$3.14M – $4.19M
NOI $251,250 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$5.24M
$4.58M – $6.11M
NOI $366,637 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,966
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77598, TX
25,620
Population
13,337
Households
1.9
Avg Household Size
32
Median Age
30%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
2,100
Density / Sq Mi
$59,758
Median Household Income
$45,190
Median Earnings
$1,279
Median Rent
$228,700
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Adaptable building suitable for medical, office, flex, or industrial use.
Where is this medical office space located?
The property is located at 218 W NASA RD 1 Webster, TX.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Versatile building suitable for medical, biotech/lab, general office, and flex users.; Existing medical space (3,316 SF) provides immediate income potential.; Significant unfinished space (+/- 4,812 SF) offers customization or subdivision opportunities.
