Flex Building with Fenced
For Sale
Contact for pricing
3050 E Parkway St, Groves, TX 77619
C-1 Retail zoning, gated outdoor storage, and warehouse access support a range of commercial operations.
Property Size1,980 SF
Price / SF$136.36
Days on Market45
Property Features for 3050 E Parkway St
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Retail
Zoning
C-1 Retail
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Clear Height
16 ft
Amenities
full kitchen
full bath with stand up shower
Building Details
Building Size
1,980 SF
Listing Agency:
Advantage Real Estate
(409) 474-1090
Listed By:
Jon Carona · License #TX
Source:
Crexi
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 29 at 6:18PM
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 Advantage Real Estate
Investment Insights
Based on property information with market context.
This 1,980-square-foot flex property combines warehouse functionality with features suited to an owner-operated commercial business. The building includes a full kitchen and a full bathroom with a stand-up shower, while the warehouse area provides roll-up door access and varied ceiling heights. A fenced and gated yard adds secured outdoor equipment storage, complemented by a covered exterior storage area.
The property is located at 3050 E Parkway St in Groves, directly along State Highway 73. Its C-1 Retail zoning supports a broad range of commercial and retail uses. The site is also near major refinery operations, including Motiva, Total Petrochemicals, BASF, Indorama Ventures, and Valero.
The property is located at 3050 E Parkway St in Groves, directly along State Highway 73. Its C-1 Retail zoning supports a broad range of commercial and retail uses. The site is also near major refinery operations, including Motiva, Total Petrochemicals, BASF, Indorama Ventures, and Valero.
Key Highlights
- 1,980‑square‑foot flex building on State Highway 73
- C‑1 Retail zoning supports a broad range of commercial and retail uses
- Fenced and gated yard for equipment storage
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
$16,624
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
6.16%
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%
$332,480
$332.5K
Cap Rate 7%
$237,486
$237.5K
Cap Rate 9%
$184,711
$184.7K
Market Conditions
NOI Build-Up for 1,980 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
$27.3K $13.80/SF
− Vacancy
−$1.7K −$0.88/SF
EGI
$25.6K $12.92/SF
− OpEx
−$9.0K −$4.52/SF
NOI
$16.6K $8.40/SF
Area
Jefferson County, TX
Vacancy
6.40%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$332,480
Cap Rate 7%
$237,486
Cap Rate 9%
$184,711
Alternative Uses
Best Use
Retail
$451.8K
$395.3K – $527.1K
NOI $31,625 @ 7.0% cap · market cap 11.71%
Second Best
Flex RnD
$237.5K
$207.8K – $277.1K
NOI $16,624 @ 7.0% cap · market cap 6.16%
Theoretical Best
Multifamily LT 5
$22.25M
$19.47M – $25.95M
NOI $1,557,229 @ 7.0% cap · market cap 576.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
262
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - C-1 Retail zoning, gated outdoor storage, and warehouse access support a range of commercial operations.
Where is this flex space located?
The property is located at 3050 E Parkway St Groves, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 1,980‑square‑foot flex building on State Highway 73; C‑1 Retail zoning supports a broad range of commercial and retail uses; Fenced and gated yard for equipment storage
