Warehouse Flex Facility with
For Sale
Contact for pricing
3334 Creekmont Drive, Houston, TX 77091
Flex warehouse with dock-well and grade-level loading, a newly renovated office, and fully fenced, gated grounds.
Property Size14,956 SF
Price / SF$130.38
Days on Market100
Property Features for 3334 Creekmont Drive
General Information
Standard status
Active
Size
14,956 SF
Class
C
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
6
Building Details
Year Built
1969
Listing Agency:
Partners
(713) 275-9649
Listed By:
Andrew Laycock · License #TX
Source:
Crexi
Added: May 7
Changed: Aug 10
Last Checked: Aug 13 at 3:35AM
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.
This flex warehouse facility offers a mix of dock-well and grade-level loading for practical day-to-day operations. Loading includes three (3) 12’ W x 10’ H doors, one (1) 12’ W x 9’ H door, one (1) 10’ W x 10’ door (dock-well), and additional dock-well loading. The building is fully insulated and features a newer office area with HVAC, along with recent office and warehouse renovations.
The property includes additional land for expansion and is fully fenced and gated. Utilities are listed as City of Houston service, with quick access to Loop 610, I-45, and US 290.
Designed to accommodate both warehouse and office use within the same facility, the layout supports flexible occupancy needs while keeping loading and ground access straightforward.
The property includes additional land for expansion and is fully fenced and gated. Utilities are listed as City of Houston service, with quick access to Loop 610, I-45, and US 290.
Designed to accommodate both warehouse and office use within the same facility, the layout supports flexible occupancy needs while keeping loading and ground access straightforward.
Key Highlights
- Flex warehouse with grade‑level and dock‑well loading for multiple trailer/door configurations
- Loading bay sizes include three (3) 12’ W x 10’ H and one (1) 10’ W x 10’ H (dock‑well)
- Includes fully insulated space plus a newly renovated office
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
$155,737
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
7.99%
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%
$3,114,740
$3.1M
Cap Rate 7%
$2,224,814
$2.2M
Cap Rate 9%
$1,730,411
$1.7M
Market Conditions
NOI Build-Up for 14,956 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
$269.2K $18.00/SF
− Vacancy
−$29.6K −$1.98/SF
EGI
$239.6K $16.02/SF
− OpEx
−$83.9K −$5.61/SF
NOI
$155.7K $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 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%
$3,114,740
Cap Rate 7%
$2,224,814
Cap Rate 9%
$1,730,411
Alternative Uses
Best Use
Flex RnD
$2.22M
$1.95M – $2.60M
NOI $155,737 @ 7.0% cap · market cap 7.99%
Second Best
Warehouse
$1.57M
$1.38M – $1.83M
NOI $110,081 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$3.85M
$3.37M – $4.49M
NOI $269,208 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
6
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77091, TX
28,020
Population
12,501
Households
2.2
Avg Household Size
34
Median Age
19%
College-Educated
73%
High-School Grad
7.1 sq mi
ZIP Area
3,946
Density / Sq Mi
$35,737
Median Household Income
$28,906
Median Earnings
$1,061
Median Rent
$223,700
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with dock-well and grade-level loading, a newly renovated office, and fully fenced, gated grounds.
Where is this flex space located?
The property is located at 3334 Creekmont Drive Houston, TX.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Flex warehouse with grade‑level and dock‑well loading for multiple trailer/door configurations; Loading bay sizes include three (3) 12’ W x 10’ H and one (1) 10’ W x 10’ H (dock‑well); Includes fully insulated space plus a newly renovated office
