Industrial Flex Building
For Sale
$1,695,000
5029 FM 646 Road East, Dickinson, TX 77539
Four-building industrial complex includes multiple overhead doors, an office component, a covered patio, and generator power.
Property Size11,150 SF
Days on Market98
Property Features for 5029 FM 646 Road East
General Information
Standard status
Active
Size
11,150 SF
Class
B
Property subtype
Office
Building Details
Building Size
11,150 SF
Listing Agency:
Zann Commercial Brokerage
Listed By:
Jason C. Kieschnick · License #TX #512911
(832) 689-0105
Source:
Zann
Added: Jul 9
Changed: Oct 9
Last Checked: Oct 12 at 6:26PM
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 Zann Commercial Brokerage
Investment Insights
Based on property information with market context.
This four-building industrial complex combines office and warehouse space with outdoor yard support. The configuration includes a 2,400 SF office building with upscale finishes and a covered outside patio. Also included is a 3,500 SF climatized office/warehouse with two grade level overhead doors, along with a 1,750 SF warehouse featuring two 12' x 16' drive-thru overhead doors. A separate 3,500 SF warehouse building provides three 14' x 16' grade level overhead doors, and the property includes roughly 20,000 SF of land area for a laydown yard. All buildings are backed up by generator power.
The complex is located in north Galveston County between Gulf Freeway (Interstate 45) and Highway 146, providing access to heavily traveled roadways and nearby industrial areas.
From a functional standpoint, the mix of climatized office, office/warehouse, and multiple drive-in and grade level door configurations supports a range of light industrial and logistics-oriented operations, with generator backup for continuity.
The complex is located in north Galveston County between Gulf Freeway (Interstate 45) and Highway 146, providing access to heavily traveled roadways and nearby industrial areas.
From a functional standpoint, the mix of climatized office, office/warehouse, and multiple drive-in and grade level door configurations supports a range of light industrial and logistics-oriented operations, with generator backup for continuity.
Key Highlights
- Four‑building industrial complex in north Galveston County between I‑45 (Gulf Freeway) and Hwy 146
- Includes 2,400 SF office building with upscale finishes and a covered outside patio
- 3,500 SF climatized office/warehouse with two grade level overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,912
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,240
$1.4M
Cap Rate 7%
$984,457
$984.5K
Cap Rate 9%
$765,689
$765.7K
Market Conditions
NOI Build-Up for 11,150 SF
Gross rent
$86.5K $7.76/SF
− Vacancy
−$5.5K −$0.49/SF
EGI
$81.1K $7.27/SF
− OpEx
−$12.2K −$1.09/SF
NOI
$68.9K $6.18/SF
Area
Galveston County, TX
Vacancy
6.30%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,240
Cap Rate 7%
$984,457
Cap Rate 9%
$765,689
Alternative Uses
Best Use
Warehouse
$984.5K
$861.4K – $1.15M
NOI $68,912 @ 7.0% cap · market cap 4.07%
Second Best
Industrial
$810.7K
$709.4K – $945.9K
NOI $56,751 @ 7.0% cap · market cap 3.35%
Theoretical Best
Multifamily LT 5
$125.01M
$109.38M – $145.84M
NOI $8,750,560 @ 7.0% cap · market cap 516.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77539, TX
48,183
Population
18,725
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
84%
High-School Grad
48.4 sq mi
ZIP Area
996
Density / Sq Mi
$85,263
Median Household Income
$49,580
Median Earnings
$1,370
Median Rent
$246,400
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Four-building industrial complex includes multiple overhead doors, an office component, a covered patio, and generator power.
Where is this flex space located?
The property is located at 5029 FM 646 Road East Dickinson, TX.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Four‑building industrial complex in north Galveston County between I‑45 (Gulf Freeway) and Hwy 146; Includes 2,400 SF office building with upscale finishes and a covered outside patio; 3,500 SF climatized office/warehouse with two grade level overhead doors
