Houston Warehouse with Climate
For Sale
Contact for pricing
Pending
3007 Crossview Dr, Houston, TX 77063
19,500 SF warehouse with office space and climate control.
Property Size19,500 SF
Lot Size0.62 Acres
Days on Market883
Property Features for 3007 Crossview Dr
General Information
Standard status
Pending
Size
19,500 SF
Lot size
0.62 Acres
Property subtype
Industrial
Building Details
Year Built
1975
Stories
2
Units
1
Listing Agency:
Partners
Listed By:
Andrew Laycock · License #TX
(713) 275-9649
Source:
Crexi
Added: Apr 4, 2024
Changed: Aug 20
Last Checked: Aug 31 at 3:45AM
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 Partners
Investment Insights
Based on property information with market context.
The property features a total of approximately 19,500 square feet on approximately 0.62 acres. It includes approximately 4,400 square feet of office space and approximately 15,100 square feet of warehouse space. The warehouse has an approximate 16-foot clear height, grade-level and dock-high loading, climate control, natural gas and compressed air. It also has a backup generator on-site. Power is 3 phase, 240V. The property has LED lighting and utilities provided by the City of Houston. The infill location provides quick access to the Southwest Freeway, Westpark Tollway, 610 Loop, and Beltway 8.
Key Highlights
- Excellent infill location with quick access to Southwest Freeway, Westpark Tollway, 610 Loop, & Beltway 8
- Climate controlled warehouse space
- ±19,500 SF total property size (±4,400 SF office & ±15,100 SF warehouse)
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
$143,526
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
6.38%
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%
$2,870,520
$2.9M
Cap Rate 7%
$2,050,371
$2.1M
Cap Rate 9%
$1,594,733
$1.6M
Market Conditions
NOI Build-Up for 19,500 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
$187.2K $9.60/SF
− Vacancy
−$18.3K −$0.94/SF
EGI
$168.9K $8.66/SF
− OpEx
−$25.3K −$1.30/SF
NOI
$143.5K $7.36/SF
Area
Houston, TX
Vacancy
9.80%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$2,870,520
Cap Rate 7%
$2,050,371
Cap Rate 9%
$1,594,733
Alternative Uses
Best Use
Office B
$3.25M
$2.84M – $3.79M
NOI $227,448 @ 7.0% cap · market cap 10.11%
Second Best
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,526 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$5.01M
$4.39M – $5.85M
NOI $351,000 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,293
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77063, TX
38,298
Population
22,625
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,511
Density / Sq Mi
$54,509
Median Household Income
$40,346
Median Earnings
$1,334
Median Rent
$281,300
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?
Warehouse - 19,500 SF warehouse with office space and climate control.
Where is this warehouse located?
The property is located at 3007 Crossview Dr Houston, TX.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Excellent infill location with quick access to Southwest Freeway, Westpark Tollway, 610 Loop, & Beltway 8; Climate controlled warehouse space; ±19,500 SF total property size (±4,400 SF office & ±15,100 SF warehouse)
