Industrial Warehouse with Multiple Grade
For Sale
$2,900,000
222 Wynne St, Houston, TX 77009
Metal industrial facility with 16’ clear height, office space, and five grade-level doors, featuring a partial five-year leaseback.
Property Size28,748 SF
Lot Size2.06 Acres
Price / SF$100.88
Days on Market69
Property Features for 222 Wynne St
General Information
Standard status
Active
Size
28,748 SF
Lot size
2.06 Acres
Property subtype
Warehouse
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
5
Additional Details
Cap Rate
3.49%
Amenities
28,748-Square-Foot Industrial Asset Situated on 2.06 Acres
Functional Metal Industrial Facility Featuring Five Grade-Level Doors, 18' Clear Height, And Approximately 3,000 Square Feet Of Office Space
Strategically Located Along I-45 in North Inner Loop Submarket with Below-Market 4.3% Vacancy Rate
Existing Tenant Occupies 11,008 Square Feet on a Month-to-Month Basis, Providing Near-Term Income with Flexibility for an Owner-User or Investor
Occupied by, AztexFresh Produce LLC, Wholesale Provider to Restaurants, Supermarkets, Convenience Stores, Meat Markets, Bars, & Residential Homes
17,740 Square Feet of Vacant Space Creates Partial Owner-User or Lease-Up Investment Opportunity
Building Details
Building Size
28,748 SF
Year Built
1972
Tenancy
Single
Listing Agency:
Marcus & Millichap - Dallas
(713) 452-4384
Listed By:
Grant Roosma · License #License(s): TX: 841845
(713) 452-4384
Source:
Marcusmillichap
Added: Jun 1
Changed: Aug 8
Last Checked: Jun 3 at 2:24AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This functional metal industrial facility totals 28,748 square feet on 2.06 acres and is designed for flexible warehouse and manufacturing-related operations. The building includes five grade-level doors, 16’ clear height, and approximately 3,000 square feet of office space. In addition to supporting a range of industrial uses, the property also presents an investment component with vacant warehouse space available for lease-up or for an owner-operator’s needs.
Located along Interstate 45 in the North Inner Loop submarket, the property is positioned for strong access and visibility to major transportation routes. The area’s below-market 4.3% vacancy rate underscores demand for industrial space, which can be beneficial when planning lease-up strategies for the available portion of the building.
The property is occupied by Aztex Fresh Produce LLC, a wholesale provider to restaurants, supermarkets, convenience stores, meat markets, bars, and residential homes. Upon closing, the seller will enter into a partial five-year triple-net sale-leaseback agreement covering 11,008 square feet at $13.08 per square foot, with 3.0% annual escalations, providing the buyer with stable income from a continuing operating tenant. With 17,740 square feet vacant, buyers can pursue either additional leasing to new tenants or use the space for their own operations, potentially improving cash flow through lease-up and any facility upgrades.
Located along Interstate 45 in the North Inner Loop submarket, the property is positioned for strong access and visibility to major transportation routes. The area’s below-market 4.3% vacancy rate underscores demand for industrial space, which can be beneficial when planning lease-up strategies for the available portion of the building.
The property is occupied by Aztex Fresh Produce LLC, a wholesale provider to restaurants, supermarkets, convenience stores, meat markets, bars, and residential homes. Upon closing, the seller will enter into a partial five-year triple-net sale-leaseback agreement covering 11,008 square feet at $13.08 per square foot, with 3.0% annual escalations, providing the buyer with stable income from a continuing operating tenant. With 17,740 square feet vacant, buyers can pursue either additional leasing to new tenants or use the space for their own operations, potentially improving cash flow through lease-up and any facility upgrades.
Key Highlights
- 28,748 SF metal industrial facility on 2.06 acres with 16’ clear height and five grade‑level doors
- Includes approx. 3,000 SF office space within the 28,748 SF facility
- Seller‑occupied: Aztex Fresh Produce LLC (wholesale provider to restaurants, supermarkets, convenience stores, meat markets, bars, and residential homes)
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
$211,594
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
7.30%
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%
$4,231,880
$4.2M
Cap Rate 7%
$3,022,771
$3.0M
Cap Rate 9%
$2,351,044
$2.4M
Market Conditions
NOI Build-Up for 28,748 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
$276.0K $9.60/SF
− Vacancy
−$27.0K −$0.94/SF
EGI
$248.9K $8.66/SF
− OpEx
−$37.3K −$1.30/SF
NOI
$211.6K $7.36/SF
Area
Houston, TX
Vacancy
9.80%
Lease Rate
$9.60 /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%
$4,231,880
Cap Rate 7%
$3,022,771
Cap Rate 9%
$2,351,044
Alternative Uses
Best Use
Warehouse
$3.02M
$2.64M – $3.53M
NOI $211,594 @ 7.0% cap · market cap 7.30%
Second Best
Industrial
$2.32M
$2.03M – $2.70M
NOI $162,096 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$7.39M
$6.47M – $8.62M
NOI $517,464 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
5
Drive-in doors
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Metal industrial facility with 16’ clear height, office space, and five grade-level doors, featuring a partial five-year leaseback.
Where is this warehouse located?
The property is located at 222 Wynne St Houston, TX.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 28,748 SF metal industrial facility on 2.06 acres with 16’ clear height and five grade‑level doors; Includes approx. 3,000 SF office space within the 28,748 SF facility; Seller‑occupied: Aztex Fresh Produce LLC (wholesale provider to restaurants, supermarkets, convenience stores, meat markets, bars, and residential homes)
