Freestanding Office-Tech
For Sale
Contact for pricing
4202 Sherwood Lane, Houston, TX 77092
Turnkey freestanding office/tech building on a fenced site with ample surface parking for an owner-user or investor.
Property Size5,265 SF
Lot Size0.85 Acres
Price / SF$378.92
Days on Market98
Property Features for 4202 Sherwood Lane
General Information
Standard status
Active
Size
5,265 SF
Class
B
Total Parking Spaces
30
Lot size
0.85 Acres
Property subtype
Office, Mixed Use, Special Purpose
Lease Type
Modified Gross
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Year Built
1958
Year Renovated
2014
Buildings
1
Stories
1
Units
1
Listing Agency:
Proximity Commercial Advisors
Listed By:
Leigh Anne Ahr · License #TX Texas
(281) 995-8765
Source:
Crexi
Added: Jun 4
Changed: Aug 27
Last Checked: Sep 9 at 6:02AM
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 Proximity Commercial Advisors
Investment Insights
Based on property information with market context.
4202 Sherwood Lane is a freestanding office/tech building offering 5,265 square feet. The property is situated on a fenced ±10.85-acre site and includes 30 surface parking spaces, providing a practical parking supply for employees, clients, and visitors. The offering is presented as a turnkey opportunity suitable for an owner-user or an investor looking for value-add potential.
The building is positioned near the 610 Loop along the US-290 / Northwest Freeway corridor, placing it within a well-established commercial area of Houston. Its location on an office-focused property corridor can support a range of professional and technology-oriented uses, with convenient access to major routes.
For tenants, buyers, or operators seeking a standalone work environment, the site configuration and surface parking make the property straightforward to operate and to accommodate daily access. The freestanding layout also supports flexible occupancy planning compared with multi-tenant facilities, while the turnkey presentation is designed to reduce the time and decision points associated with acquiring an operational office asset.
The building is positioned near the 610 Loop along the US-290 / Northwest Freeway corridor, placing it within a well-established commercial area of Houston. Its location on an office-focused property corridor can support a range of professional and technology-oriented uses, with convenient access to major routes.
For tenants, buyers, or operators seeking a standalone work environment, the site configuration and surface parking make the property straightforward to operate and to accommodate daily access. The freestanding layout also supports flexible occupancy planning compared with multi-tenant facilities, while the turnkey presentation is designed to reduce the time and decision points associated with acquiring an operational office asset.
Key Highlights
- 5,265 SF freestanding office/tech building built in 1958
- Located near the 610 Loop along the US‑290 / Northwest Freeway corridor
- Fenced ±0.85‑acre site
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
$61,411
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
3.08%
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%
$1,228,220
$1.2M
Cap Rate 7%
$877,300
$877.3K
Cap Rate 9%
$682,344
$682.3K
Market Conditions
NOI Build-Up for 5,265 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
$113.7K $21.60/SF
− Vacancy
−$31.8K −$6.05/SF
EGI
$81.9K $15.55/SF
− OpEx
−$20.5K −$3.89/SF
NOI
$61.4K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$1,228,220
Cap Rate 7%
$877,300
Cap Rate 9%
$682,344
Alternative Uses
Best Use
Office B
$877.3K
$767.6K – $1.02M
NOI $61,411 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,770 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,907
Businesses Nearby
Explore this area
Business Placement
Demographics for 77092, TX
34,903
Population
16,158
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
75%
High-School Grad
8.1 sq mi
ZIP Area
4,309
Density / Sq Mi
$56,741
Median Household Income
$34,895
Median Earnings
$1,228
Median Rent
$222,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Houston, TX
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Frequently Asked Questions
What type of property is this?
Office building - Turnkey freestanding office/tech building on a fenced site with ample surface parking for an owner-user or investor.
Where is this office building located?
The property is located at 4202 Sherwood Lane Houston, TX.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 5,265 SF freestanding office/tech building built in 1958; Located near the 610 Loop along the US‑290 / Northwest Freeway corridor; Fenced ±0.85‑acre site
