Two-Story Flex Space with
New
For Sale
$2,250,000
5010 Nolda Street, Houston, TX 77007
Adaptable two-story property combines office, showroom, gallery, and live-work configurations with separate work and living areas.
Property Size5,760 SF
Lot Size0.24 Acres
Price / SF$390.63
Days on Market2
Property Features for 5010 Nolda Street
General Information
Standard status
Active
Size
5,760 SF
Total Parking Spaces
12
Lot size
0.24 Acres
Property subtype
FlexIndustrial
Additional Details
Asking Price
$2,250,000
Fenced Yard
Yes
Building Details
Year Built
1995
Year Renovated
2015
Stories
2
Building Size
5,760 SF
Listing Agency:
CBRE - Houston Galleria
Listed By:
Jazz Hamilton
(713) 577-1805
Source:
Cbre
Added: Sep 12
Last Checked: Sep 13 at 4:43AM
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 CBRE - Houston Galleria
Investment Insights
Based on property information with market context.
This 5,760 SF two-story flex property supports flexible commercial or residential use. The first level includes a front office, a rear office with built-in storage and French doors, five additional rooms suited to office or showroom/gallery functions, and a kitchenette. The second level contains a large open office with conference area, a full kitchen, and a living loft with 3 bedrooms, 3 full baths, and 1 half bath.
Built in 1995, the building received a metal roof and second-level living loft in 2012, followed by a downstairs office and second-level office suite in 2015. The property includes a 5,000 SF fenced and gated parking lot with 12 spaces on approximately 0.24 AC. It is located inside the 610 Loop, with access to The Heights, Washington Avenue, River Oaks, Memorial Park, Downtown Houston, The Medical Center, and major thoroughfares.
Built in 1995, the building received a metal roof and second-level living loft in 2012, followed by a downstairs office and second-level office suite in 2015. The property includes a 5,000 SF fenced and gated parking lot with 12 spaces on approximately 0.24 AC. It is located inside the 610 Loop, with access to The Heights, Washington Avenue, River Oaks, Memorial Park, Downtown Houston, The Medical Center, and major thoroughfares.
Key Highlights
- 5,760 SF two‑story flex property on approximately 0.24 AC
- Flexible commercial or residential configuration with separate work and living areas
- Second‑level living loft includes 3 bedrooms, 3 full baths, and 1 half bath
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
$76,032
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
3.38%
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%
$1,520,640
$1.5M
Cap Rate 7%
$1,086,171
$1.1M
Cap Rate 9%
$844,800
$844.8K
Market Conditions
NOI Build-Up for 5,760 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
$138.2K $24.00/SF
− Vacancy
−$16.6K −$2.88/SF
EGI
$121.7K $21.12/SF
− OpEx
−$45.6K −$7.92/SF
NOI
$76.0K $13.20/SF
Area
Houston, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,520,640
Cap Rate 7%
$1,086,171
Cap Rate 9%
$844,800
Alternative Uses
Best Use
Mixed Use
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 3.38%
Second Best
Office B
$959.8K
$839.8K – $1.12M
NOI $67,185 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,680 @ 7.0% cap · market cap 4.61%
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
Location Intelligence
Trade Area within ½ mile
1,778
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Houston, TX
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable two-story property combines office, showroom, gallery, and live-work configurations with separate work and living areas.
Where is this flex space located?
The property is located at 5010 Nolda Street Houston, TX.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 5,760 SF two‑story flex property on approximately 0.24 AC; Flexible commercial or residential configuration with separate work and living areas; Second‑level living loft includes 3 bedrooms, 3 full baths, and 1 half bath
