Multi-Unit Flex
For Sale
$280,000
2949 Main Ave, Groves, TX 77619
Groves, TX
Property Size4,788 SF
Lot Size0.32 Acres
Price / SF$58.48
Days on Market89
Property Features for 2949 Main Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Freestanding
Subdivision
Groves 2
Standard status
Active
Size
4,788 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
TR 9-B REPLAT LTS 9 & 11 PEARL GARDENS .3211AC
Legal Description
TR 9-B REPLAT LTS 9 & 11 PEARL GARDENS .3211AC
Building Details
Floors in Building
1
Flooring type
Concrete
Building materials
Metal
Listing Agency:
JLA Realty
(409) 242-1900
Listed By:
John Altic · License #0572287
(281) 744-2611
Added: Jul 2
Changed: Sep 7
Last Checked: Sep 28 at 12:06PM
MLS# 267609
Copyright © 2026 Beaumont Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property at 2949 Main Ave includes two separate shop units totaling approximately 4,788 square feet, with individual areas of approximately 2,088 square feet and 2,700 square feet. The improvements also contain office space, a small lobby, and an efficiency kitchen. Metal construction and concrete flooring support a practical commercial layout, while the large parking area accommodates multiple vehicles, equipment, or fleet storage. The property occupies 0.32 acres in Groves, Texas, and has previously supported auto storage and handyman operations. Its existing combination of shop, office, and parking areas provides a range of functional commercial configurations, including the possibility of multi-tenant occupancy.
Key Highlights
- Two separate shop units measuring approximately 2,088 sqft and 2,700 sqft
- Approximately 4,788 sqft of total property size
- 0.32‑acre commercial property at 2949 Main Ave
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
$24,370
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
8.70%
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%
$487,400
$487.4K
Cap Rate 7%
$348,143
$348.1K
Cap Rate 9%
$270,778
$270.8K
Market Conditions
NOI Build-Up for 4,788 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
$37.2K $7.76/SF
− Vacancy
−$2.3K −$0.49/SF
EGI
$34.8K $7.27/SF
− OpEx
−$10.4K −$2.18/SF
NOI
$24.4K $5.09/SF
Area
Jefferson County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
30.00%
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%
$487,400
Cap Rate 7%
$348,143
Cap Rate 9%
$270,778
Alternative Uses
Best Use
Flex RnD
$574.3K
$502.5K – $670.0K
NOI $40,200 @ 7.0% cap · market cap 14.36%
Second Best
Warehouse
$422.7K
$369.9K – $493.2K
NOI $29,592 @ 7.0% cap · market cap 10.57%
Theoretical Best
Multifamily LT 5
$53.80M
$47.07M – $62.76M
NOI $3,765,663 @ 7.0% cap · market cap 1,344.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77619, TX
17,349
Population
6,885
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
5.4 sq mi
ZIP Area
3,213
Density / Sq Mi
$70,485
Median Household Income
$43,314
Median Earnings
$1,247
Median Rent
$153,800
Median Home Value
Check the figures for this property
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?
Flex space - Versatile commercial building with shop, office, lobby, kitchen, and substantial vehicle and equipment parking.
Where is this flex space located?
The property is located at 2949 Main Ave Groves, TX.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two separate shop units measuring approximately 2,088 sqft and 2,700 sqft; Approximately 4,788 sqft of total property size; 0.32‑acre commercial property at 2949 Main Ave
