Creative Office Space
For Sale
Contact for pricing
2417 Sabine St, Houston, TX 77007
Creative office space with convenient access to Downtown and The Heights.
Property Size6,300 SF
Price / SF$238.10
Days on Market1056
Property Features for 2417 Sabine St
General Information
Standard status
Active
Size
6,300 SF
Property subtype
Industrial, Land
Building Details
Year Built
1940
Listing Agency:
Cunningham Ventures
Listed By:
Preston Cunningham · License #0505246
(281) 489-8800
Source:
Crexi
Added: Oct 20, 2023
Changed: Sep 5
Last Checked: Sep 8 at 6:03AM
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 Cunningham Ventures
Investment Insights
Based on property information with market context.
This property offers an excellent opportunity for creative office space. The property is located in a regentrifying neighborhood and provides convenient access to Downtown and The Heights. The property size is 6,300 square feet.
Key Highlights
- Excellent opportunity for creative office space.
- Convenient access to Downtown.
- Convenient access to the Heights.
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
$73,483
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
4.90%
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%
$1,469,660
$1.5M
Cap Rate 7%
$1,049,757
$1.0M
Cap Rate 9%
$816,478
$816.5K
Market Conditions
NOI Build-Up for 6,300 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
$136.1K $21.60/SF
− Vacancy
−$38.1K −$6.05/SF
EGI
$98.0K $15.55/SF
− OpEx
−$24.5K −$3.89/SF
NOI
$73.5K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$1,469,660
Cap Rate 7%
$1,049,757
Cap Rate 9%
$816,478
Alternative Uses
Best Use
Office B
$1.05M
$918.5K – $1.22M
NOI $73,483 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,400 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,432
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Creative office space with convenient access to Downtown and The Heights.
Where is this creative space located?
The property is located at 2417 Sabine St Houston, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Excellent opportunity for creative office space.; Convenient access to Downtown.; Convenient access to the Heights.
