Flex Office/Warehouse on
For Sale
Contact for pricing
Pending
4801 Katy Freeway, Houston, TX 77007
Concrete tiltwall flex office/warehouse with a grade-level door and 100 feet each of Katy and Shepherd frontage.
Property Size5,680 SF
Lot Size0.34 Acres
Days on Market130
Property Features for 4801 Katy Freeway
General Information
Standard status
Pending
Size
5,680 SF
Total Parking Spaces
20
Lot size
0.34 Acres
Property subtype
Office, Industrial
Occupancy
100%
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
1
Building Details
Year Built
1973
Buildings
1
Units
20
Tenancy
Multi
Construction
concrete tiltwall
Listing Agency:
HighStreet Net Lease Group
Listed By:
Matt Moake · License #TX 556958
Source:
Crexi
Added: Apr 30
Changed: Aug 27
Last Checked: Aug 14 at 7:43AM
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 HighStreet Net Lease Group
Investment Insights
Based on property information with market context.
This flex office/warehouse asset includes approximately 5,680 square feet of concrete tiltwall construction and a 1 grade level door fronting Shepherd. The property is currently 100% occupied by two long-term tenants on month-to-month leases, with the ability to retain existing tenants or support owner/occupier use depending on near-term needs. Tenants can vacate with 90-day notice.
The site sits on a hard corner along Katy Freeway and Shepherd, with 100 feet of Katy Fwy frontage and 100 feet of Shepherd frontage, providing high visibility. The land footprint is listed at 15,000 square feet, and the offering includes 20 parking spaces between the primary building site and off-site parking at 4711 Nolda one block to the east.
The configuration supports dual-purpose use and frontage on major arterials, with practical access for tenants and visitors given the on-site and nearby parking arrangement.
The site sits on a hard corner along Katy Freeway and Shepherd, with 100 feet of Katy Fwy frontage and 100 feet of Shepherd frontage, providing high visibility. The land footprint is listed at 15,000 square feet, and the offering includes 20 parking spaces between the primary building site and off-site parking at 4711 Nolda one block to the east.
The configuration supports dual-purpose use and frontage on major arterials, with practical access for tenants and visitors given the on-site and nearby parking arrangement.
Key Highlights
- ±5,680 SF office/warehouse on a hard corner of Shepherd and Katy Freeway
- Concrete tiltwall construction with 1 grade‑level door fronting Shepherd
- Land footprint of 15,000 SF with 100' frontage on Katy Fwy and 100' frontage on Shepherd
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
$59,146
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
3.11%
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%
$1,182,920
$1.2M
Cap Rate 7%
$844,943
$844.9K
Cap Rate 9%
$657,178
$657.2K
Market Conditions
NOI Build-Up for 5,680 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
$102.2K $18.00/SF
− Vacancy
−$11.2K −$1.98/SF
EGI
$91.0K $16.02/SF
− OpEx
−$31.8K −$5.61/SF
NOI
$59.1K $10.41/SF
Area
Houston, TX
Vacancy
11.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,182,920
Cap Rate 7%
$844,943
Cap Rate 9%
$657,178
Alternative Uses
Best Use
Flex RnD
$844.9K
$739.3K – $985.8K
NOI $59,146 @ 7.0% cap · market cap 3.11%
Second Best
Warehouse
$597.2K
$522.6K – $696.8K
NOI $41,807 @ 7.0% cap · market cap 2.20%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,240 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,857
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete tiltwall flex office/warehouse with a grade-level door and 100 feet each of Katy and Shepherd frontage.
Where is this flex space located?
The property is located at 4801 Katy Freeway Houston, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: ±5,680 SF office/warehouse on a hard corner of Shepherd and Katy Freeway; Concrete tiltwall construction with 1 grade‑level door fronting Shepherd; Land footprint of 15,000 SF with 100' frontage on Katy Fwy and 100' frontage on Shepherd
