Newly Constructed Industrial
2323 S Houston Ave Building #10 Humble, TX 77396
For Sale
$1,775,000
Shallow-bay industrial space in Humble, Texas, delivered in 2024.
Property Size9,977 SF
Lot Size0.56 Acres
Price / SF$177.91
Days on Market112
Property Features for 2323 S Houston Ave Building #10
General Information
- Standard status
- Active
- Size
- 9,977 SF
- Lot size
- 0.56 Acres
- Property subtype
- Warehouse
Building Details
- Year Built
- 2024
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5223
Listed By:
Adam Abushagur · License #License(s): TX: 661916
(972) 755-5223
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 10
Last Checked: Jul 23 at 2:36AM
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.
The property at 2323 South Houston Avenue, Building 10, in Humble, Texas, offers approximately 9,977 square feet of shallow-bay industrial space on a 0.56-acre lot. Constructed in 2024, the single-tenant property is leased to Enclosure Fabrication. It features an 18-foot clear height, two grade-level doors, metal construction, 400 amps of power, and nine parking spaces. The property is located a four-minute drive from Interstate 69, 3.6 miles east of George Bush Intercontinental Airport, and 17.5 miles north of Downtown Houston. The tenant is signed to a triple-net lease at $12.48 per square foot that runs through February 2035, with annual escalations of 3.75 percent. Enclosure Fabrication, founded in 2020, manufactures custom-built steel and metal frames. The property is located within the Northeast Highway 90 submarket, which contains nearly 35.0 million square feet of industrial space. As of Q3 2025, the submarket saw 1.5 million square feet of net absorption and 1.3 million square feet of new industrial space added to the inventory. The vacancy rate in the submarket fell by 110 basis points to 10.7 percent year-over-year in Q3 2025, with annual rent growth rebounding to 3.5 percent, pushing the average asking rent to about $8.70 per square foot. Approximately 1.3 million square feet were under construction in the last quarter of 2025, representing 3.7 percent of inventory.
Key Highlights
- New Construction (2024): Minimizes capital expenditure risk.
- Long‑Term Triple‑Net (NNN) Lease: Tenant signed through February 2035, providing stable, passive income.
- Above‑Market Annual Escalations: Features 3.75% annual rent increases.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $131.7k | $13.20 |
| − Vacancy | −$9.5k | −$0.95 |
| EGI | $122.2k | $12.25 |
| − OpEx | −$18.3k | −$1.84 |
| NOI | $103.9k | $10.41 |
9,977 SF · lease $13.20/SF/yr · vacancy 7.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.48M
$1.30M – $1.73M
NOI $103,882 @ 7.0% cap · market cap 5.85%
Second Best
Industrial
$1.22M
$1.07M – $1.43M
NOI $85,550 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,696 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Warehouses
Similar Off Market Nearby
- Jg Boat & Rv Storage — 1980 wilson rd, humble, tx 77396
- Wilson Road Storage — 2707 Wilson Rd, Humble, TX 77396
FAQs
What type of property is this?
Warehouse - Shallow-bay industrial space in Humble, Texas, delivered in 2024.
Where is this warehouse located?
The property is located at 2323 S Houston Ave Building #10 Humble, TX.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: New Construction (2024): Minimizes capital expenditure risk.; Long‑Term Triple‑Net (NNN) Lease: Tenant signed through February 2035, providing stable, passive income.; Above‑Market Annual Escalations: Features 3.75% annual rent increases.
