Versatile Multi-Structure Commercial
For Sale
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22831 Fritz Ln, Spring, TX 77389
Well-maintained commercial property with multiple income streams.
Property Size11,620 SF
Price / SF$184.08
Days on Market278
Property Features for 22831 Fritz Ln
General Information
Standard status
Active
Size
11,620 SF
Total Parking Spaces
25
Property subtype
Industrial, Multifamily, Office
Zoning
Klein ISD schools
Building Details
Year Built
2007
Listing Agency:
Oxford Partners
Listed By:
D. J. Hale · License #732225-SA
Source:
Crexi
Added: Nov 7, 2025
Changed: Aug 11
Last Checked: Aug 11 at 11:09AM
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 Oxford Partners
Investment Insights
Based on property information with market context.
This commercial property features 11,620 square feet of improvements distributed across several well-maintained structures. These structures serve distinct purposes and offer varied income streams. The property is suitable for mixed-use, office, and industrial applications.
Key Highlights
- Total 11,620 SF of improvements
- Multiple well‑maintained structures
- Varied income streams
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
$136,226
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
6.37%
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%
$2,724,520
$2.7M
Cap Rate 7%
$1,946,086
$1.9M
Cap Rate 9%
$1,513,622
$1.5M
Market Conditions
NOI Build-Up for 11,620 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
$232.9K $20.04/SF
− Vacancy
−$51.2K −$4.41/SF
EGI
$181.6K $15.63/SF
− OpEx
−$45.4K −$3.91/SF
NOI
$136.2K $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%
$2,724,520
Cap Rate 7%
$1,946,086
Cap Rate 9%
$1,513,622
Alternative Uses
Best Use
Office B
$1.95M
$1.70M – $2.27M
NOI $136,226 @ 7.0% cap · market cap 6.37%
Second Best
Mixed Use
$1.72M
$1.50M – $2.00M
NOI $120,267 @ 7.0% cap · market cap 5.62%
Theoretical Best
Specialty Retail
$2.93M
$2.57M – $3.42M
NOI $205,345 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 77389, TX
41,534
Population
15,138
Households
2.7
Avg Household Size
36
Median Age
56%
College-Educated
95%
High-School Grad
21.3 sq mi
ZIP Area
1,950
Density / Sq Mi
$145,228
Median Household Income
$64,867
Median Earnings
$1,795
Median Rent
$387,100
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?
Mixed-use property - Well-maintained commercial property with multiple income streams.
Where is this mixed-use property located?
The property is located at 22831 Fritz Ln Spring, TX.
What is the asking price?
The asking price for this property is $2,139,000.
What are key features of this property?
This property features: Total 11,620 SF of improvements; Multiple well‑maintained structures; Varied income streams
