Grogan's Gate Professional
For Sale
Contact for pricing
350 Nursery Rd, Spring, TX 77380
Mixed-use professional center in Spring, near The Woodlands.
Property Size5,188 SF
Price / SF$370.91
Days on Market2600
Property Features for 350 Nursery Rd
General Information
Standard status
Active
Size
5,188 SF
Class
B
Property subtype
Business for Sale, Mixed Use, Office, Special Purpose
Occupancy
83%
Lease Type
NNN
Building Details
Year Built
2021
Buildings
7
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
Houston International Realty
Listed By:
Richard Foulkes · License #0529290
(281) 363-2845
Source:
Crexi
Added: Aug 26, 2019
Changed: Sep 13
Last Checked: Oct 5 at 4:29PM
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 Houston International Realty
Investment Insights
Based on property information with market context.
The Grogan’s Gate Professional Center is located in Spring, adjacent to The Woodlands. This mixed-use property offers opportunities for living, working, and recreation. The Woodlands has over 100,000 residents and 40,000 jobs. The property is situated near major roads and corporate centers, including Exxon and Anadarko. It is suitable for small companies and entrepreneurs seeking professional spaces. The property consists of six single-story buildings totaling 24,000 square feet, along with a 12,500-square-foot two-story office building. The Grogan’s Gate Professional Center provides modern amenities and ample parking. This property, developed by Crown Point Developments, is an investment opportunity for establishing a business presence in the area. The property size is 5188 square feet.
Key Highlights
- Prime location adjacent to The Woodlands, offering access to a large residential and employment base.
- Conveniently situated near major roads and corporate centers.
- Modern professional center, recently built in 2021 with 36,500 SqFt of office space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,821
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,420
$1.2M
Cap Rate 7%
$868,871
$868.9K
Cap Rate 9%
$675,789
$675.8K
Market Conditions
NOI Build-Up for 5,188 SF
Gross rent
$104.0K $20.04/SF
− Vacancy
−$22.9K −$4.41/SF
EGI
$81.1K $15.63/SF
− OpEx
−$20.3K −$3.91/SF
NOI
$60.8K $11.72/SF
Area
Montgomery County, TX
Vacancy
22.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,420
Cap Rate 7%
$868,871
Cap Rate 9%
$675,789
Alternative Uses
Best Use
Office B
$868.9K
$760.3K – $1.01M
NOI $60,821 @ 7.0% cap · market cap 3.16%
Second Best
Mixed Use
$767.1K
$671.2K – $894.9K
NOI $53,696 @ 7.0% cap · market cap 2.79%
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,681 @ 7.0% cap · market cap 4.76%
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
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 77380, TX
27,651
Population
16,232
Households
1.7
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
2,230
Density / Sq Mi
$84,468
Median Household Income
$51,286
Median Earnings
$1,607
Median Rent
$343,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use professional center in Spring, near The Woodlands.
Where is this mixed-use property located?
The property is located at 350 Nursery Rd Spring, TX.
What is the asking price?
The asking price for this property is $1,924,300.
What are key features of this property?
This property features: Prime location adjacent to The Woodlands, offering access to a large residential and employment base.; Conveniently situated near major roads and corporate centers.; Modern professional center, recently built in 2021 with 36,500 SqFt of office space.
