Mixed-Use Property with Metal
New
For Sale
$385,000
24077 Fm 1485 Road, New Caney, TX 77357
Unrestricted site combines office-residential improvements with additional space for business operations.
Property Size1,152 SF
Price / SF$334.20
Days on Market2
Property Features for 24077 Fm 1485 Road
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Income
Taxes and HOA fees
Annual Taxes
$284
Amenities
1
Owner
Balcony
Yes
Partial
Cleared
60024
Appraiser
1152
Building Details
Building Size
1,152 SF
Year Built
2016
Stories
2
Listing Agency:
Propel Realty
(281) 646-1136
Listed By:
Silvia Armendariz
(832) 677-2160
Source:
Garygreene
Added: Sep 16
Last Checked: Sep 16 at 2:15PM
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 Propel Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes two separate home-office improvements on approximately 1.38 acres. The primary two-story building contains approximately 1,152 square feet, with one bedroom or office upstairs and 1.5 baths. A second home-office offers approximately 900 square feet, including two bedrooms or offices and one bath. Both improvements were built in 2016.
A separate 70' x 40' x 20' high metal building adds substantial covered space for business use. The property fronts FM 1485 E and is within minutes of Hwy 59 and the Grand Pkwy. Its unrestricted designation supports consideration for commercial or residential use, subject to applicable requirements.
A separate 70' x 40' x 20' high metal building adds substantial covered space for business use. The property fronts FM 1485 E and is within minutes of Hwy 59 and the Grand Pkwy. Its unrestricted designation supports consideration for commercial or residential use, subject to applicable requirements.
Key Highlights
- Approximately 1.38 acres with FM 1485 E frontage
- Two‑story home‑office contains approximately 1,152 sf, one bedroom/office, and 1.5 baths
- Adjacent home‑office provides approximately 900 sf with two bedrooms/offices and one bath
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
$11,923
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
3.10%
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%
$238,460
$238.5K
Cap Rate 7%
$170,329
$170.3K
Cap Rate 9%
$132,478
$132.5K
Market Conditions
NOI Build-Up for 1,152 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
$20.7K $18.00/SF
− Vacancy
−$1.7K −$1.44/SF
EGI
$19.1K $16.56/SF
− OpEx
−$7.2K −$6.21/SF
NOI
$11.9K $10.35/SF
Area
Montgomery County, TX
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$238,460
Cap Rate 7%
$170,329
Cap Rate 9%
$132,478
Alternative Uses
Best Use
Mixed Use
$170.3K
$149.0K – $198.7K
NOI $11,923 @ 7.0% cap · market cap 3.10%
Second Best
Warehouse
$101.7K
$89.0K – $118.7K
NOI $7,120 @ 7.0% cap · market cap 1.85%
Theoretical Best
Specialty Retail
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 77357, TX
30,339
Population
12,638
Households
2.4
Avg Household Size
34
Median Age
15%
College-Educated
80%
High-School Grad
67.1 sq mi
ZIP Area
452
Density / Sq Mi
$73,773
Median Household Income
$40,211
Median Earnings
$1,366
Median Rent
$218,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Unrestricted site combines office-residential improvements with additional space for business operations.
Where is this mixed-use property located?
The property is located at 24077 Fm 1485 Road New Caney, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Approximately 1.38 acres with FM 1485 E frontage; Two‑story home‑office contains approximately 1,152 sf, one bedroom/office, and 1.5 baths; Adjacent home‑office provides approximately 900 sf with two bedrooms/offices and one bath
