Industrial Warehouse with
For Sale
Contact for pricing
515 Illinois St, South Houston, TX 77587
Industrial warehouse on a corner lot with two partially insulated buildings, office space, and multiple 16' roll-up doors.
Property Size10,410 SF
Lot Size0.65 Acres
Price / SF$153.70
Days on Market213
Property Features for 515 Illinois St
General Information
Standard status
Active
Size
10,410 SF
Lot size
0.65 Acres
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
Meadowbrook
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Listing Agency:
KW Commercial Texas
(713) 470-2100
Listed By:
Tim Larson · License #695022
(281) 508-0800
Source:
Moodyscre
Added: Apr 1
Changed: Oct 25
Last Checked: Oct 28 at 11:52AM
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 KW Commercial Texas
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Industrial warehouse facility on a corner lot in South Houston, consisting of two partially insulated buildings totaling 10,410 SF and including both shop and office space. The buildings have recent upgrades to the offices and restrooms, along with upgraded front, side, and rear 16' roll-up doors. The configuration includes (3) offices, (3) bathrooms, air-conditioned spaces, multiple roll-up doors, and (2) exit doors.
The property is positioned with close proximity to I-45, Hobby Airport, the 610 Loop, Beltway 8, and the Port of Houston, and it is located in Harris County near the Houston Ship Channel. The site includes a large fenced area for outdoor storage and freshly poured concrete parking areas on the west and south sides, with four lots totaling 28,400 SF.
The facility is located in Flood Zone X500 (outside the flood zone).
The property is positioned with close proximity to I-45, Hobby Airport, the 610 Loop, Beltway 8, and the Port of Houston, and it is located in Harris County near the Houston Ship Channel. The site includes a large fenced area for outdoor storage and freshly poured concrete parking areas on the west and south sides, with four lots totaling 28,400 SF.
The facility is located in Flood Zone X500 (outside the flood zone).
Key Highlights
- South Houston industrial warehouse on a corner lot with two partially insulated buildings totaling 10,410 SF
- Convenient access near I‑45 and Hwy 3, close to Hobby Airport, 610 Loop, Beltway 8, and the Port of Houston
- Site includes a large fenced outdoor storage area and freshly poured concrete parking on the west and south sides
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
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial warehouse on a corner lot with two partially insulated buildings, office space, and multiple 16' roll-up doors.
Where is this flex space 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: South Houston industrial warehouse on a corner lot with two partially insulated buildings totaling 10,410 SF; Convenient access near I‑45 and Hwy 3, close to Hobby Airport, 610 Loop, Beltway 8, and the Port of Houston; Site includes a large fenced outdoor storage area and freshly poured concrete parking on the west and south sides
