Multi-Tenant Office
For Sale
Contact for pricing
2210 N Frazier St, Conroe, TX 77303
Value-add office building with seller financing available.
Property Size9,000 SF
Price / SF$150
Days on Market180
Property Features for 2210 N Frazier St
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Office
Occupancy
55%
Investment Type
Value Add
Building Details
Year Built
1972
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Partners - Austin
Listed By:
Ryan McCullough, SIOR · License #TX 742422
Source:
Crexi
Added: Mar 4
Changed: Aug 27
Last Checked: Aug 29 at 12:58PM
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 Partners - Austin
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 9,000 square foot multi-tenant office building. This property presents a value-add opportunity with potential for various business uses. Seller financing is available.
Key Highlights
- Seller financing available
- Value‑add opportunity
- Multi‑tenant office building
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
$105,511
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
7.82%
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%
$2,110,220
$2.1M
Cap Rate 7%
$1,507,300
$1.5M
Cap Rate 9%
$1,172,344
$1.2M
Market Conditions
NOI Build-Up for 9,000 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
$180.4K $20.04/SF
− Vacancy
−$39.7K −$4.41/SF
EGI
$140.7K $15.63/SF
− OpEx
−$35.2K −$3.91/SF
NOI
$105.5K $11.72/SF
Area
Montgomery County, TX
Vacancy
22.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,110,220
Cap Rate 7%
$1,507,300
Cap Rate 9%
$1,172,344
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,511 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.27M
$1.99M – $2.65M
NOI $159,045 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 77303, TX
20,974
Population
9,516
Households
2.2
Avg Household Size
36
Median Age
14%
College-Educated
84%
High-School Grad
60.9 sq mi
ZIP Area
344
Density / Sq Mi
$72,827
Median Household Income
$42,956
Median Earnings
$1,157
Median Rent
$232,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Value-add office building with seller financing available.
Where is this office building located?
The property is located at 2210 N Frazier St Conroe, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Seller financing available; Value‑add opportunity; Multi‑tenant office building
