Flex Space with Alley
For Sale
$4,275,000
320 East 20th Street, Houston, TX 77008
Redevelopment assemblage with four existing flex/warehouse buildings and alley access, featuring 132 feet of frontage on 20th Street.
Property Size18,962 SF
Lot Size0.79 Acres
Price / SF$225.45
Days on Market197
Property Features for 320 East 20th Street
General Information
Standard status
Active
Size
18,962 SF
Lot size
0.79 Acres
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$41,826
Amenities
2
No
Security Gate
Building Details
Year Built
1945
Listing Agency:
Compass
Listed By:
Becky Davis · License #0656415
(832) 628-8221
Source:
Compass
Added: Apr 2
Changed: Oct 10
Last Checked: Oct 15 at 1:07AM
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 Compass
Investment Insights
Based on property information with market context.
This assemblage presents a new development or adaptive reuse opportunity in the Houston Heights area, spanning five contiguous lots with 132 feet of frontage on 20th Street and 260 feet of frontage on Arlington. Alley access is available to support a range of redevelopment plans for the site.
The offering includes four buildings totaling 18,962 SF: a two-story mid-century office building with an upstairs apartment, a 1945 post-war lumber warehouse with historic character intact, and two additional studio warehouse structures. All buildings are classified as Non-Contributing in the Heights East Historic District, and demolition requires only a standard city permit.
The property is described as including the 1829 and 1831 Arlington addresses. It is approximately 0.3 miles from the Heights Shopping District and 3.0 miles from Downtown Houston. The remarks state Houston has no zoning and the historic ordinance does not regulate use, making the site available for commercial or residential development.
The offering includes four buildings totaling 18,962 SF: a two-story mid-century office building with an upstairs apartment, a 1945 post-war lumber warehouse with historic character intact, and two additional studio warehouse structures. All buildings are classified as Non-Contributing in the Heights East Historic District, and demolition requires only a standard city permit.
The property is described as including the 1829 and 1831 Arlington addresses. It is approximately 0.3 miles from the Heights Shopping District and 3.0 miles from Downtown Houston. The remarks state Houston has no zoning and the historic ordinance does not regulate use, making the site available for commercial or residential development.
Key Highlights
- 34,320 SF (0.788‑acre) redevelopment assemblage on five contiguous lots with 132 ft frontage on 20th Street
- 260 ft frontage on Arlington (includes 1829 and 1831 Arlington addresses) plus alley access
- Four existing buildings total 18,962 SF: two‑story mid‑century office building with upstairs apartment and a 1945 lumber warehouse with historic character intact
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,451
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,949,020
$3.9M
Cap Rate 7%
$2,820,729
$2.8M
Cap Rate 9%
$2,193,900
$2.2M
Market Conditions
NOI Build-Up for 18,962 SF
Gross rent
$341.3K $18.00/SF
− Vacancy
−$37.5K −$1.98/SF
EGI
$303.8K $16.02/SF
− OpEx
−$106.3K −$5.61/SF
NOI
$197.5K $10.41/SF
Area
Houston, TX
Vacancy
11.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,949,020
Cap Rate 7%
$2,820,729
Cap Rate 9%
$2,193,900
Alternative Uses
Best Use
Flex RnD
$2.82M
$2.47M – $3.29M
NOI $197,451 @ 7.0% cap · market cap 4.62%
Second Best
Warehouse
$1.99M
$1.74M – $2.33M
NOI $139,566 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,316 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77008, TX
36,631
Population
20,709
Households
1.8
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
5,636
Density / Sq Mi
$142,414
Median Household Income
$84,642
Median Earnings
$1,567
Median Rent
$609,300
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 Houston, TX
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Frequently Asked Questions
What type of property is this?
Flex space - Redevelopment assemblage with four existing flex/warehouse buildings and alley access, featuring 132 feet of frontage on 20th Street.
Where is this flex space located?
The property is located at 320 East 20th Street Houston, TX.
What is the asking price?
The asking price for this property is $4,275,000.
What are key features of this property?
This property features: 34,320 SF (0.788‑acre) redevelopment assemblage on five contiguous lots with 132 ft frontage on 20th Street; 260 ft frontage on Arlington (includes 1829 and 1831 Arlington addresses) plus alley access; Four existing buildings total 18,962 SF: two‑story mid‑century office building with upstairs apartment and a 1945 lumber warehouse with historic character intact
