Mixed-Use Property with Existing
For Sale
Contact for pricing
3211 Cypress Creek Parkway, Houston, TX 77014
Built in 2009, the property combines commercial space with an existing income component.
Property Size13,295 SF
Price / SF$165.48
Days on Market61
Property Features for 3211 Cypress Creek Parkway
General Information
Standard status
Active
Size
13,295 SF
Property subtype
Mixed Use
Investment Type
Owner/User
Additional Details
Asking Price
$2,200,000
Building Details
Year Built
2009
Buildings
3
Tenancy
Multi
Listing Agency:
Texas Glocal Partners
(281) 747-6334
Listed By:
Pablo Uriegas · License #9003017
Source:
Crexi
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 29 at 4:16PM
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 Texas Glocal Partners
Investment Insights
Based on property information with market context.
This mixed-use property contains 13,295 square feet and was built in 2009. The asset includes an existing income component and is positioned as a commercial property with established surrounding activity.
The property is located at 3211 Cypress Creek Parkway in Houston, near established businesses, retail, restaurants, and everyday conveniences. Several nearby services are within walking distance, adding to the site's practical accessibility and commercial setting.
The property is located at 3211 Cypress Creek Parkway in Houston, near established businesses, retail, restaurants, and everyday conveniences. Several nearby services are within walking distance, adding to the site's practical accessibility and commercial setting.
Key Highlights
- 13,295‑square‑foot mixed‑use property
- Built in 2009
- Existing income component
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
$175,494
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
7.98%
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%
$3,509,880
$3.5M
Cap Rate 7%
$2,507,057
$2.5M
Cap Rate 9%
$1,949,933
$1.9M
Market Conditions
NOI Build-Up for 13,295 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
$319.1K $24.00/SF
− Vacancy
−$38.3K −$2.88/SF
EGI
$280.8K $21.12/SF
− OpEx
−$105.3K −$7.92/SF
NOI
$175.5K $13.20/SF
Area
Houston, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,509,880
Cap Rate 7%
$2,507,057
Cap Rate 9%
$1,949,933
Alternative Uses
Best Use
Mixed Use
$2.51M
$2.19M – $2.92M
NOI $175,494 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,310 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,794
Businesses Nearby
Explore this area
Business Placement
Demographics for 77014, TX
35,161
Population
13,166
Households
2.7
Avg Household Size
32
Median Age
22%
College-Educated
81%
High-School Grad
7.2 sq mi
ZIP Area
4,883
Density / Sq Mi
$54,456
Median Household Income
$34,192
Median Earnings
$1,220
Median Rent
$213,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Built in 2009, the property combines commercial space with an existing income component.
Where is this mixed-use property located?
The property is located at 3211 Cypress Creek Parkway Houston, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 13,295‑square‑foot mixed‑use property; Built in 2009; Existing income component
