Building Details

Building Size 5,000 SF

Listing Agency: Houston Show Phone

Listed By: Ben Sample · License #707293 Show Phone

Source: Property.jll

Added: Jul 16 Changed: Oct 9 Last Checked: Oct 16 at 6:08AM

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Investment Insights

Based on property information with market context.

This flex property includes approximately 1,500 SF of office area and 3,500 SF of warehouse space. Two grade-level doors support loading and access between the interior areas and the secured exterior storage area. The site encompasses approximately 15,246 SF of land and includes fencing with a gated entry.

Located at 5010 Steffani Ln in Houston, Texas, the property offers a combined office, warehouse, and outdoor storage configuration suited to an owner-user seeking multiple functional areas in one commercial asset.

Key Highlights

• ±15,246 SF total land size
• ±1,500 SF office area
• ±3,500 SF warehouse area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,011

Cap Rate

5.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,120,220 $1.1M

Cap Rate 7%

$800,157 $800.2K

Cap Rate 9%

$622,344 $622.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,802 SF

Gross rent

$103.7K $21.60/SF

− Vacancy

−$29.0K −$6.05/SF

EGI

$74.7K $15.55/SF

− OpEx

−$18.7K −$3.89/SF

NOI

$56.0K $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 Rate 5%

$1,120,220

Cap Rate 7%

$800,157

Cap Rate 9%

$622,344

Alternative Uses

Best Use

Office B

$800.2K

$700.1K – $933.5K (±1% cap)

NOI $56,011 @ 7.0% cap · market cap 5.69%

Second Best

Flex RnD

$714.3K

$625.0K – $833.4K (±1% cap)

NOI $50,003 @ 7.0% cap · market cap 5.08%

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,436 @ 7.0% cap · market cap 8.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

MSI - Measurement Services Factory

Suggested Use

Top Pick Dental Office Law Firm Real Estate Agency Hair Salon Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

373

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 77041, TX

35,958

Population

11,877

Households

3

Avg Household Size

38

Median Age

38%

College-Educated

84%

High-School Grad

18.9 sq mi

ZIP Area

1,903

Density / Sq Mi

$79,164

Median Household Income

$40,991

Median Earnings

$1,638

Median Rent

$269,000

Median Home Value

Market

Vacancy Rate% for Office in Houston, TX

21.3% 2019

24.5% 2020

25.2% 2021

26% 2022

25.3% 2023

25.5% 2024

24.8% 2025

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Similar Off Market Nearby

• Behind the Bash Artisan Catering — 4827 Steffani Ln, Houston, TX 77041

Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse areas combine with fenced, gated outdoor storage for a flexible commercial configuration.

Where is this flex space located?

The property is located at 5010 Steffani Ln Houston, TX.

What is the asking price?

The asking price for this property is $985,000.

What are key features of this property?

This property features: ±15,246 SF total land size; ±1,500 SF office area; ±3,500 SF warehouse area