Mixed-Use Property with
For Sale
Contact for pricing
23102 Aldine Westfield Rd, Spring, TX 77373
Unrestricted acreage with offices, restrooms, and a garage/workshop in a commercial area near shopping centers and local businesses.
Property Size2,000 SF
Price / SF$349.50
Days on Market161
Property Features for 23102 Aldine Westfield Rd
General Information
Standard status
Active
Size
2,000 SF
Class
C
Property subtype
Land, Mixed Use, Office
Building Details
Year Built
2004
Buildings
4
Listing Agency:
Beckey Muller Broker and Associates
(281) 948-6843
Listed By:
Mark Rizkallah · License #0635846
Source:
Crexi
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 29 at 8:36PM
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 Beckey Muller Broker and Associates
Investment Insights
Based on property information with market context.
This unrestricted 2.6-acre mixed-use property includes an original building developed for a sign company, with a garage/workshop, restrooms, and office areas. A 2,000 SF modular building measuring 28x60 was added recently and is currently tenant occupied. The property also includes improvements served by well water and septic. The original building may be remodeled for single-family use, while the overall site is identified as suitable for future development, mobile homes, and an RV park.
The property has a private entrance from Aldine Westfield Road and sits behind Walgreens within a commercial area surrounded by shopping centers and local businesses. The original improvements date to 2004. Access to the residence requires an appointment; the Supra lockbox is located at the shop entrance.
The property has a private entrance from Aldine Westfield Road and sits behind Walgreens within a commercial area surrounded by shopping centers and local businesses. The original improvements date to 2004. Access to the residence requires an appointment; the Supra lockbox is located at the shop entrance.
Key Highlights
- 2.6‑acre unrestricted mixed‑use property on Aldine Westfield Road
- Original building includes garage/workshop, restrooms, and offices
- Recently added 28x60 modular building is currently tenant occupied
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
$23,447
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
3.35%
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%
$468,940
$468.9K
Cap Rate 7%
$334,957
$335.0K
Cap Rate 9%
$260,522
$260.5K
Market Conditions
NOI Build-Up for 2,000 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
$40.1K $20.04/SF
− Vacancy
−$8.8K −$4.41/SF
EGI
$31.3K $15.63/SF
− OpEx
−$7.8K −$3.91/SF
NOI
$23.4K $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%
$468,940
Cap Rate 7%
$334,957
Cap Rate 9%
$260,522
Alternative Uses
Best Use
Office B
$335.0K
$293.1K – $390.8K
NOI $23,447 @ 7.0% cap · market cap 3.35%
Second Best
Mixed Use
$295.7K
$258.8K – $345.0K
NOI $20,700 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$504.9K
$441.8K – $589.1K
NOI $35,343 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 77373, TX
63,413
Population
23,619
Households
2.7
Avg Household Size
34
Median Age
26%
College-Educated
88%
High-School Grad
23.8 sq mi
ZIP Area
2,664
Density / Sq Mi
$86,693
Median Household Income
$42,384
Median Earnings
$1,649
Median Rent
$221,400
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 - Unrestricted acreage with offices, restrooms, and a garage/workshop in a commercial area near shopping centers and local businesses.
Where is this mixed-use property located?
The property is located at 23102 Aldine Westfield Rd Spring, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2.6‑acre unrestricted mixed‑use property on Aldine Westfield Road; Original building includes garage/workshop, restrooms, and offices; Recently added 28x60 modular building is currently tenant occupied
