Freestanding Industrial
New
For Sale
$4,917,073
2211 Genoa Red Bluff Rd, Pasadena, TX 77507
Newly constructed distribution facility with dock access, truck court, office space, and a five-year NNN lease.
Property Size28,000 SF
Lot Size2.03 Acres
Price / SF$175.61
Days on Market3
Property Features for 2211 Genoa Red Bluff Rd
General Information
Standard status
Active
Size
28,000 SF
Total Parking Spaces
27
Lot size
2.03 Acres
Property subtype
Industrial
Net Operating Income
$302,400
Warehouse & Industrial
Clear Height
28 ft
Office Build-Out
2,837 SF
Dock-High Doors
8
Drive-In Doors
1
Truck Court Depth
140 ft
Power
800 amps
Sprinkler System
Yes
Additional Details
Asking Price
$4,917,073
Building Details
Buildings
1
Building Size
28,000 SF
Tenancy
Single
Listing Agency:
Houston
(713) 835-0077
Listed By:
Austin Bartula · License #773129
(713) 835-0077
Source:
Colliers
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 10:49PM
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 Houston
Investment Insights
Based on property information with market context.
This newly constructed industrial facility contains 28,000 SF on 2.03 acres, including 2,837 SF of office space. The building provides eight dock-high doors, one drive-in ramp, 28’ clear height, a 140’ truck court, and 27 auto parks. Additional features include 800-amp service, ESFR sprinklers, and natural gas connected to the building.
Located at 2211 Genoa Red Bluff Rd in Pasadena, Texas, the property is served by City of Pasadena utilities. The existing five-year NNN lease assigns responsibility for the roof, foundation, and structure to the landlord, providing a defined lease structure for the asset.
Located at 2211 Genoa Red Bluff Rd in Pasadena, Texas, the property is served by City of Pasadena utilities. The existing five-year NNN lease assigns responsibility for the roof, foundation, and structure to the landlord, providing a defined lease structure for the asset.
Key Highlights
- 28,000 SF industrial building on 2.03 acres
- 2,837 SF of office space within the facility
- Eight dock‑high doors and one drive‑in ramp
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
$378,306
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
7.69%
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%
$7,566,120
$7.6M
Cap Rate 7%
$5,404,371
$5.4M
Cap Rate 9%
$4,203,400
$4.2M
Market Conditions
NOI Build-Up for 28,000 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
$497.3K $17.76/SF
− Vacancy
−$52.2K −$1.86/SF
EGI
$445.1K $15.90/SF
− OpEx
−$66.8K −$2.38/SF
NOI
$378.3K $13.51/SF
Area
Pasadena, TX
Vacancy
10.50%
Lease Rate
$17.76 /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%
$7,566,120
Cap Rate 7%
$5,404,371
Cap Rate 9%
$4,203,400
Alternative Uses
Best Use
Warehouse
$5.40M
$4.73M – $6.31M
NOI $378,306 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.24M
$8.09M – $10.78M
NOI $646,827 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
28 ft
Clear height
8
Dock-high doors
1
Drive-in doors
Single-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77507, TX
770
Population
387
Households
2
Avg Household Size
30
Median Age
55%
College-Educated
100%
High-School Grad
16.3 sq mi
ZIP Area
47
Density / Sq Mi
$74,536
Median Household Income
$46,068
Median Earnings
$1,693
Median Rent
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
- SiteBox Storage — 1518 Genoa Red Bluff Rd, Houston, TX 77034
- Pasadena Truck Parking — 2080 Genoa Red Bluff Rd, Houston, TX 77034
Frequently Asked Questions
What type of property is this?
Warehouse - Newly constructed distribution facility with dock access, truck court, office space, and a five-year NNN lease.
Where is this warehouse located?
The property is located at 2211 Genoa Red Bluff Rd Pasadena, TX.
What is the asking price?
The asking price for this property is $4,917,073.
What are key features of this property?
This property features: 28,000 SF industrial building on 2.03 acres; 2,837 SF of office space within the facility; Eight dock‑high doors and one drive‑in ramp
