Flex Space with Office
New
For Sale
Contact for pricing
406 N Washington Ave, Cleveland, TX 77327
Commercial layout includes adaptable shop and warehouse areas alongside office space.
Property Size7,000 SF
Price / SF$99.99
Days on Market6
Property Features for 406 N Washington Ave
General Information
Standard status
Active
Size
7,000 SF
Property subtype
OFFICE
Warehouse & Industrial
Warehouse Space
4,000 SF
Office Build-Out
800 SF
Listing Agency:
Cameron Real Estate
(281) 622-7447
Listed By:
Phillip Darryl Cameron · License #TEXAS0338240
(281) 622-7447
Source:
Moodyscre
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 10:30AM
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 Cameron Real Estate
Investment Insights
Based on property information with market context.
This flex space property at 406 N Washington Ave includes warehouse areas that can be combined to provide 4,000 square feet of shop and warehouse space. An additional 800-square-foot office area supports the overall commercial configuration. The property size is listed at 7,000 square feet, offering a combination of work and office areas within one asset. The Cleveland, TX location provides a defined address for commercial users seeking flex-oriented space.
Key Highlights
- 4,000 sq ft of combined shop and warehouse space
- 800 sq ft office space
- 7,000‑square‑foot property size
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
$43,263
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
6.18%
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%
$865,260
$865.3K
Cap Rate 7%
$618,043
$618.0K
Cap Rate 9%
$480,700
$480.7K
Market Conditions
NOI Build-Up for 7,000 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
$54.3K $7.76/SF
− Vacancy
−$3.4K −$0.49/SF
EGI
$50.9K $7.27/SF
− OpEx
−$7.6K −$1.09/SF
NOI
$43.3K $6.18/SF
Area
Liberty County, TX
Vacancy
6.30%
Lease Rate
$7.76 /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%
$865,260
Cap Rate 7%
$618,043
Cap Rate 9%
$480,700
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.62M
NOI $97,422 @ 7.0% cap · market cap 13.92%
Second Best
Warehouse
$618.0K
$540.8K – $721.1K
NOI $43,263 @ 7.0% cap · market cap 6.18%
Theoretical Best
Multifamily LT 5
$78.48M
$68.67M – $91.56M
NOI $5,493,625 @ 7.0% cap · market cap 784.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77327, TX
32,269
Population
12,967
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
75%
High-School Grad
339.1 sq mi
ZIP Area
95
Density / Sq Mi
$57,538
Median Household Income
$39,382
Median Earnings
$1,001
Median Rent
$144,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial layout includes adaptable shop and warehouse areas alongside office space.
Where is this flex space located?
The property is located at 406 N Washington Ave Cleveland, TX.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 4,000 sq ft of combined shop and warehouse space; 800 sq ft office space; 7,000‑square‑foot property size
