Mixed-Use Industrial
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For Sale
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3809 MELBOURNE ST, Houston, TX 77026
Corner property combining warehouse capacity, two-story offices, perimeter fencing, and access to major transportation corridors.
Property Size16,885 SF
Lot Size0.43 Acres
Price / SF$74.67
Days on Market3
Property Features for 3809 MELBOURNE ST
General Information
Standard status
Active
Size
16,885 SF
Lot size
0.43 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Warehouse Space
14,760 SF
Office Build-Out
2,125 SF
Drive-In Doors
3
Building Details
Buildings
1
Building Size
16,885 SF
Listing Agency:
Creek Realty
Listed By:
Jose Richenberger · License #0686399
(832) 746-5296
Source:
Moodyscre
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 19 at 2:43PM
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 Creek Realty
Investment Insights
Based on property information with market context.
This mixed-use industrial property contains 16,885 SF of building area on an approximately 18,750 SF corner site. The facility includes 14,760 SF of warehouse space and 2,125 SF of two-story offices. The warehouse measures approximately 100' x 150' and includes three overhead doors: two approximately 12' x 12' and one approximately 12' wide x 14' high. The property is fenced on three sides.
The office component provides approximately 1,322 SF on the first floor and 803 SF upstairs. Interior features include private offices, a 19' x 14' reception area, a 46' x 9' bullpen, four additional open offices, a 15' x 13' air-conditioned room, two half baths, and one full bathroom. The current use is rain gutter manufacturing.
Located near Loop 610 and US-59/I-69, the property offers access to major Houston transportation routes. Its warehouse-office configuration supports manufacturing, distribution, contractor, service, fabrication, and owner-user operations as described for the facility.
The office component provides approximately 1,322 SF on the first floor and 803 SF upstairs. Interior features include private offices, a 19' x 14' reception area, a 46' x 9' bullpen, four additional open offices, a 15' x 13' air-conditioned room, two half baths, and one full bathroom. The current use is rain gutter manufacturing.
Located near Loop 610 and US-59/I-69, the property offers access to major Houston transportation routes. Its warehouse-office configuration supports manufacturing, distribution, contractor, service, fabrication, and owner-user operations as described for the facility.
Key Highlights
- 16,885 SF total building on an approximately 18,750 SF corner site
- 14,760 SF warehouse plus 2,125 SF of two‑story office space
- Approximately 100' x 150' warehouse with 3 overhead doors
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
$105,722
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
7.55%
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%
$2,114,440
$2.1M
Cap Rate 7%
$1,510,314
$1.5M
Cap Rate 9%
$1,174,689
$1.2M
Market Conditions
NOI Build-Up for 18,750 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
$168.8K $9.00/SF
− Vacancy
−$17.7K −$0.95/SF
EGI
$151.0K $8.06/SF
− OpEx
−$45.3K −$2.42/SF
NOI
$105.7K $5.64/SF
Area
Houston, TX
Vacancy
10.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,114,440
Cap Rate 7%
$1,510,314
Cap Rate 9%
$1,174,689
Alternative Uses
Best Use
Mixed Use
$3.54M
$3.09M – $4.13M
NOI $247,500 @ 7.0% cap · market cap 17.68%
Second Best
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,006 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$4.82M
$4.22M – $5.63M
NOI $337,500 @ 7.0% cap · market cap 24.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 77026, TX
23,405
Population
9,580
Households
2.4
Avg Household Size
36
Median Age
9%
College-Educated
70%
High-School Grad
6.6 sq mi
ZIP Area
3,546
Density / Sq Mi
$34,835
Median Household Income
$29,339
Median Earnings
$962
Median Rent
$104,800
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?
Mixed-use property - Corner property combining warehouse capacity, two-story offices, perimeter fencing, and access to major transportation corridors.
Where is this mixed-use property located?
The property is located at 3809 MELBOURNE ST Houston, TX.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: 16,885 SF total building on an approximately 18,750 SF corner site; 14,760 SF warehouse plus 2,125 SF of two‑story office space; Approximately 100' x 150' warehouse with 3 overhead doors
