Two-Building Flex Space
For Sale
Contact for pricing
22219 Mueschke Road, Tomball, TX 77377
Two industrial buildings combine office and warehouse space with grade-level overhead doors.
Property Size11,200 SF
Price / SF$176.70
Days on Market55
Property Features for 22219 Mueschke Road
General Information
Standard status
Active
Size
11,200 SF
Property subtype
Industrial
Zoning
Commercial
Occupancy
50%
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Buildings
2
Tenancy
Multi
Building Size
11,200 SF
Owner Occupied
No
Listing Agency:
Cross Capital Realty
Listed By:
Vicky Cedillo · License #607705
Source:
Crexi
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 29 at 3:46PM
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 Cross Capital Realty
Investment Insights
Based on property information with market context.
This flex space portfolio includes two industrial buildings totaling 11,200 SF, with each building measuring 5,600 SF. The property is 50% occupied and includes a combination of office and warehouse areas, grade-level overhead doors, individual utilities, and ample parking. Available shell space supports continued leasing or owner occupancy within the existing improvements. The site is zoned Commercial.
The buildings are located at 22219 and 22235 Mueschke Road in Tomball, Texas, within Mueschke Business Park. Access is provided to Mueschke Road, SH 249, Grand Parkway (99), and FM 2920, placing the portfolio within the Northwest Houston commercial market. The current configuration accommodates both occupied space and additional suites for future use.
With 50% occupancy across the two-building portfolio, the property combines existing tenancy with available space for an owner-user or additional leasing activity.
The buildings are located at 22219 and 22235 Mueschke Road in Tomball, Texas, within Mueschke Business Park. Access is provided to Mueschke Road, SH 249, Grand Parkway (99), and FM 2920, placing the portfolio within the Northwest Houston commercial market. The current configuration accommodates both occupied space and additional suites for future use.
With 50% occupancy across the two-building portfolio, the property combines existing tenancy with available space for an owner-user or additional leasing activity.
Key Highlights
- Two‑building flex space portfolio totaling 11,200 SF
- Each building contains 5,600 SF
- 50% occupied with available shell space
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
$116,616
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
5.89%
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%
$2,332,320
$2.3M
Cap Rate 7%
$1,665,943
$1.7M
Cap Rate 9%
$1,295,733
$1.3M
Market Conditions
NOI Build-Up for 11,200 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
$147.8K $13.20/SF
− Vacancy
−$10.6K −$0.95/SF
EGI
$137.2K $12.25/SF
− OpEx
−$20.6K −$1.84/SF
NOI
$116.6K $10.41/SF
Area
Harris County, TX
Vacancy
7.20%
Lease Rate
$13.20 /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%
$2,332,320
Cap Rate 7%
$1,665,943
Cap Rate 9%
$1,295,733
Alternative Uses
Best Use
Warehouse
$1.67M
$1.46M – $1.94M
NOI $116,616 @ 7.0% cap · market cap 5.89%
Second Best
Industrial
$1.37M
$1.20M – $1.60M
NOI $96,037 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,072 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77377, TX
39,711
Population
13,625
Households
2.9
Avg Household Size
37
Median Age
46%
College-Educated
93%
High-School Grad
35.2 sq mi
ZIP Area
1,128
Density / Sq Mi
$123,015
Median Household Income
$66,548
Median Earnings
$1,676
Median Rent
$352,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two industrial buildings combine office and warehouse space with grade-level overhead doors.
Where is this flex space located?
The property is located at 22219 Mueschke Road Tomball, TX.
What is the asking price?
The asking price for this property is $1,979,066.
What are key features of this property?
This property features: Two‑building flex space portfolio totaling 11,200 SF; Each building contains 5,600 SF; 50% occupied with available shell space
