Flex Space with Outside
For Sale
$985,000
5010 Steffani Ln, Houston, TX 77041
Office and warehouse areas combine with fenced, gated outdoor storage for a flexible commercial configuration.
Property Size5,000 SF
Lot Size0.35 Acres
Price / SF$205.12
Days on Market47
Property Features for 5010 Steffani Ln
General Information
Standard status
Active
Size
5,000 SF
Class
C
Lot size
0.35 Acres
Property subtype
industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
3,500 SF
Office Build-Out
1,500 SF
Drive-In Doors
2
Additional Details
Asking Price
$985,000
Building Details
Building Size
5,000 SF
Listing Agency:
Houston
(713) 385-2737
Listed By:
Ben Sample · License #707293
(713) 385-2737
Source:
Property.jll
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 31 at 12:47PM
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 Houston
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.
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 = 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
$56,011
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
5.69%
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%
$1,120,220
$1.1M
Cap Rate 7%
$800,157
$800.2K
Cap Rate 9%
$622,344
$622.3K
Market Conditions
NOI Build-Up for 4,802 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
$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 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%
$1,120,220
Cap Rate 7%
$800,157
Cap Rate 9%
$622,344
Alternative Uses
Best Use
Office B
$800.2K
$700.1K – $933.5K
NOI $56,011 @ 7.0% cap · market cap 5.69%
Second Best
Flex RnD
$714.3K
$625.0K – $833.4K
NOI $50,003 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,436 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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- 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
