Former Bank Building For
For Sale
Contact for pricing
22240 Farris Green Rd, Porter, TX 77365
Versatile commercial site with existing infrastructure in a growing area.
Property Size5,130 SF
Price / SF$289.47
Days on Market477
Property Features for 22240 Farris Green Rd
General Information
Standard status
Active
Size
5,130 SF
Property subtype
Office, Retail, Special Purpose
Building Details
Year Built
2008
Buildings
1
Listing Agency:
Anne Vickery Real Estate
(281) 732-4071
Listed By:
Anne Vickery · License #TX / 9005105
Source:
Crexi
Added: Apr 22, 2025
Changed: Aug 8
Last Checked: Aug 10 at 10:16AM
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 Anne Vickery Real Estate
Investment Insights
Based on property information with market context.
This former bank property presents an opportunity to own a highly visible and versatile commercial site with existing infrastructure. The 5,130 square-foot property features a spacious lobby, a large vault, a conference room, and multiple private offices. It is located near Home Depot, Wal-Mart, and Spec’s Liquor, and is minutes from Valley Ranch Medical District and Town Center (2.5 miles). The property offers easy access to Grand Parkway (Hwy 99), I-69 (Hwy 59), and FM 1314. Downtown Houston and IAH Bush Airport are each 30 minutes away. Situated in a federally designated Opportunity Zone, this location allows for positioning a business or investment in one of the fastest-growing areas in Montgomery County. The property is suitable for financial institutions, professional offices, or retail conversion.
Key Highlights
- Highly visible, versatile commercial site with existing infrastructure.
- Strategically located near Home Depot, Wal‑Mart & Spec’s Liquor.
- Easy access to Grand Parkway (Hwy 99), I‑69 (Hwy 59) & FM 1314.
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
$90,656
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
6.10%
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%
$1,813,120
$1.8M
Cap Rate 7%
$1,295,086
$1.3M
Cap Rate 9%
$1,007,289
$1.0M
Market Conditions
NOI Build-Up for 5,130 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
$128.0K $24.96/SF
− Vacancy
−$7.2K −$1.40/SF
EGI
$120.9K $23.56/SF
− OpEx
−$30.2K −$5.89/SF
NOI
$90.7K $17.67/SF
Area
Montgomery County, TX
Vacancy
5.60%
Lease Rate
$24.96 /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%
$1,813,120
Cap Rate 7%
$1,295,086
Cap Rate 9%
$1,007,289
Alternative Uses
Best Use
Specialty Retail
$1.30M
$1.13M – $1.51M
NOI $90,656 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$993.7K
$869.5K – $1.16M
NOI $69,561 @ 7.0% cap · market cap 4.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 77365, TX
42,086
Population
15,442
Households
2.7
Avg Household Size
34
Median Age
24%
College-Educated
82%
High-School Grad
41.4 sq mi
ZIP Area
1,017
Density / Sq Mi
$96,093
Median Household Income
$50,248
Median Earnings
$1,381
Median Rent
$261,200
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?
Bank - Versatile commercial site with existing infrastructure in a growing area.
Where is this bank located?
The property is located at 22240 Farris Green Rd Porter, TX.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Highly visible, versatile commercial site with existing infrastructure.; Strategically located near Home Depot, Wal‑Mart & Spec’s Liquor.; Easy access to Grand Parkway (Hwy 99), I‑69 (Hwy 59) & FM 1314.
