Galveston Warehouse and Office
For Sale
$885,000
3928 Broadway St, Galveston, TX 77550
Warehouse and office building on corner lot with Broadway frontage.
Property Size5,427 SF
Lot Size0.39 Acres
Price / SF$163.07
Days on Market475
Property Features for 3928 Broadway St
General Information
Standard status
Active
Size
5,427 SF
Lot size
0.39 Acres
Taxes and HOA fees
Annual Taxes
$15,684
Listing Agency:
Joe Tramonte Realty
(409) 765-9837
Listed By:
Vj Tramonte
(409) 765-9837
Source:
Exprealty
Added: May 7, 2025
Changed: Aug 8
Last Checked: Jul 21 at 4:57AM
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 Joe Tramonte Realty
Investment Insights
Based on property information with market context.
The property features approximately 16,985 square feet of land. Improvements include an office building of approximately 1,133 square feet and a main warehouse of approximately 5,427 square feet. The corner lot has approximately 86 feet of frontage on Broadway.
Key Highlights
- Approx. 5427 sq ft main warehouse
- Situated on approx. 16,985 sq ft of land
- Corner lot location**
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
$69,475
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
7.85%
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%
$1,389,500
$1.4M
Cap Rate 7%
$992,500
$992.5K
Cap Rate 9%
$771,944
$771.9K
Market Conditions
NOI Build-Up for 5,427 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
$125.7K $23.16/SF
− Vacancy
−$33.1K −$6.09/SF
EGI
$92.6K $17.07/SF
− OpEx
−$23.2K −$4.27/SF
NOI
$69.5K $12.80/SF
Area
Galveston County, TX
Vacancy
26.30%
Lease Rate
$23.16 /SF/Yr
Expense Ratio
25.00%
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%
$1,389,500
Cap Rate 7%
$992,500
Cap Rate 9%
$771,944
Alternative Uses
Best Use
Office B
$992.5K
$868.4K – $1.16M
NOI $69,475 @ 7.0% cap · market cap 7.85%
Second Best
Warehouse
$479.2K
$419.3K – $559.0K
NOI $33,541 @ 7.0% cap · market cap 3.79%
Theoretical Best
Multifamily LT 5
$60.84M
$53.24M – $70.99M
NOI $4,259,129 @ 7.0% cap · market cap 481.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77550, TX
24,247
Population
15,811
Households
1.5
Avg Household Size
41
Median Age
33%
College-Educated
87%
High-School Grad
7.6 sq mi
ZIP Area
3,190
Density / Sq Mi
$46,262
Median Household Income
$35,800
Median Earnings
$1,182
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ADM Grain — 3100 wharf rd, galveston, tx 77550
- Karam Self Storage — 3316 church st, galveston, tx 77550
- Paul's Stor-Galor & Mini-Warehouse — 4417 Bernardo De Galvez Ave, Galveston, TX 77550
- Radiant Storage — 3316 Church St, Galveston, TX 77550
- Radiant Storage Galveston — 3316 Church St, Galveston, TX 77550
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse and office building on corner lot with Broadway frontage.
Where is this warehouse located?
The property is located at 3928 Broadway St Galveston, TX.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Approx. 5427 sq ft main warehouse; Situated on approx. 16,985 sq ft of land; Corner lot location**
