Flex Office with
For Sale
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332 E PLANTATION DR, Clute, TX 77531
Fully renovated flex building combining office space, workshop area, and second-level storage with a roll-up loading door.
Property Size3,351 SF
Price / SF$104.15
Days on Market63
Property Features for 332 E PLANTATION DR
General Information
Standard status
Active
Size
3,351 SF
Property subtype
Mixed Use, Self Storage, Office
Additional Details
Business Included
No
Building Details
Year Built
1950
Year Renovated
2025
Units
1
Listing Agency:
Coldwell Banker Ultimate
Listed By:
Lanita Koppe · License #565030
Source:
Crexi
Added: Jul 20
Changed: Sep 5
Last Checked: Sep 20 at 6:30AM
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 Coldwell Banker Ultimate
Investment Insights
Based on property information with market context.
This fully renovated flex property combines professional office space with a functional warehouse/workshop and additional storage. The office portion includes a reception area, waiting room, two open office areas, a restroom, a utility closet, and wet bar connections for future customization. Adjacent to the office, the workshop area offers an open layout designed for equipment, fabrication, inventory, fleet vehicles, or warehouse storage, with an oversized roll-up garage door for convenient loading and access. Above the workshop, there is a second-level storage area to add extra space without reducing usable work area below.
The property is located along E. Plantation Drive in Clute, providing convenient access throughout the Brazosport area.
Renovations described include a new roof, complete electrical rewire, new insulation, new PEX water lines, new studs, replaced exterior siding, updated interior walls with new texture and paint, luxury vinyl plank flooring in the office, new doors, lighting, ceiling fans, a tankless electric water heater, upgraded HVAC, and a new manual roll-up garage door.
The property is located along E. Plantation Drive in Clute, providing convenient access throughout the Brazosport area.
Renovations described include a new roof, complete electrical rewire, new insulation, new PEX water lines, new studs, replaced exterior siding, updated interior walls with new texture and paint, luxury vinyl plank flooring in the office, new doors, lighting, ceiling fans, a tankless electric water heater, upgraded HVAC, and a new manual roll-up garage door.
Key Highlights
- Approximately 3,351 SF fully renovated flex building with office, workshop, and second‑level storage
- Office area of approximately 1,250 SF includes reception, waiting room, two open office areas, restroom, and utility closet
- Workshop/work area of approximately 2,100 SF with open layout plus an oversized roll‑up garage door for loading and access
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
$20,954
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
6.00%
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%
$419,080
$419.1K
Cap Rate 7%
$299,343
$299.3K
Cap Rate 9%
$232,822
$232.8K
Market Conditions
NOI Build-Up for 3,351 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
$26.9K $8.04/SF
− Vacancy
−$2.3K −$0.68/SF
EGI
$24.7K $7.36/SF
− OpEx
−$3.7K −$1.10/SF
NOI
$21.0K $6.25/SF
Area
Brazoria County, TX
Vacancy
8.50%
Lease Rate
$8.04 /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%
$419,080
Cap Rate 7%
$299,343
Cap Rate 9%
$232,822
Alternative Uses
Best Use
Office B
$799.2K
$699.3K – $932.4K
NOI $55,944 @ 7.0% cap · market cap 16.03%
Second Best
Warehouse
$299.3K
$261.9K – $349.2K
NOI $20,954 @ 7.0% cap · market cap 6.00%
Theoretical Best
Multifamily LT 5
$41.75M
$36.53M – $48.70M
NOI $2,922,169 @ 7.0% cap · market cap 837.30%
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
410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77531, TX
15,666
Population
7,502
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
83%
High-School Grad
11.7 sq mi
ZIP Area
1,339
Density / Sq Mi
$71,583
Median Household Income
$40,817
Median Earnings
$1,217
Median Rent
$236,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Fully renovated flex building combining office space, workshop area, and second-level storage with a roll-up loading door.
Where is this flex space located?
The property is located at 332 E PLANTATION DR Clute, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Approximately 3,351 SF fully renovated flex building with office, workshop, and second‑level storage; Office area of approximately 1,250 SF includes reception, waiting room, two open office areas, restroom, and utility closet; Workshop/work area of approximately 2,100 SF with open layout plus an oversized roll‑up garage door for loading and access
