South Houston Industrial
For Sale
Contact for pricing
515 Illinois St, South Houston, TX 77587
Insulated 10,410 SF warehouse with shop and office space.
Property Size10,410 SF
Lot Size0.65 Acres
Price / SF$153.70
Days on Market244
Property Features for 515 Illinois St
General Information
Standard status
Active
Size
10,410 SF
Class
C
Total Parking Spaces
30
Lot size
0.65 Acres
Property subtype
Industrial
Zoning
COML LOT
Occupancy
50%
Investment Type
Owner/User
Building Details
Year Built
1987
Year Renovated
2024
Buildings
2
Stories
1
Units
2
Tenancy
Single
Listing Agency:
Keller Williams Memorial
Listed By:
Tim Larson · License #TX 0695022
(281) 508-0800
Source:
Crexi
Added: Feb 11
Changed: Oct 3
Last Checked: Oct 12 at 5:47PM
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 Keller Williams Memorial
Investment Insights
Based on property information with market context.
This South Houston industrial warehouse is situated on a corner lot near I-45, Hobby Airport, 610 Loop, Beltway 8, and the Port of Houston. The insulated building encompasses 10,410 square feet and includes both shop and office areas. Recent upgrades have been made to the office, restrooms, and front, side, and rear 16-foot roll-up doors. The property is air-conditioned and features three offices and three bathrooms. Front parking spaces are available, along with a large paved and fenced storage lot in the front. The property is located in South Houston, a business-friendly community with a variety of automotive and industrial-related occupants. South Houston is a city in Harris County, Texas, near the Houston Ship Channel, and adjacent to Pasadena. The city is known for its close-knit community, suburban feel, and diverse population. The property includes six roll-up doors and two exit doors. Additional interior repairs and improvements are currently in progress. The lot size is approximately 28,400 square feet.
Key Highlights
- Prime location near I‑45, Hobby Airport, 610 Loop, Beltway 8, and the Port of Houston.
- Large 10,410 SF insulated building on a corner lot (approximately 28,400 SF).
- Recent upgrades to office, restroom, and roll‑up doors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,391
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,167,820
$2.2M
Cap Rate 7%
$1,548,443
$1.5M
Cap Rate 9%
$1,204,344
$1.2M
Market Conditions
NOI Build-Up for 10,410 SF
Gross rent
$137.4K $13.20/SF
− Vacancy
−$9.9K −$0.95/SF
EGI
$127.5K $12.25/SF
− OpEx
−$19.1K −$1.84/SF
NOI
$108.4K $10.41/SF
Area
Harris County, TX
Vacancy
7.20%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,167,820
Cap Rate 7%
$1,548,443
Cap Rate 9%
$1,204,344
Alternative Uses
Best Use
Warehouse
$1.55M
$1.35M – $1.81M
NOI $108,391 @ 7.0% cap · market cap 6.77%
Second Best
Industrial
$1.28M
$1.12M – $1.49M
NOI $89,263 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $198,973 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77587, TX
16,179
Population
5,549
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
60%
High-School Grad
3.1 sq mi
ZIP Area
5,219
Density / Sq Mi
$52,407
Median Household Income
$30,669
Median Earnings
$1,174
Median Rent
$177,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Mini Warehouses of South Houston — 1409 Indiana St, South Houston, TX 77587
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Frequently Asked Questions
What type of property is this?
Warehouse - Insulated 10,410 SF warehouse with shop and office space.
Where is this warehouse located?
The property is located at 515 Illinois St South Houston, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime location near I‑45, Hobby Airport, 610 Loop, Beltway 8, and the Port of Houston.; Large 10,410 SF insulated building on a corner lot (approximately 28,400 SF).; Recent upgrades to office, restroom, and roll‑up doors.
