Flex Building with Outside
For Sale
Contact for pricing
5719 Armour Drive, Houston, TX 77020
Industrial flex property with office, assembly, and exterior storage areas.
Property Size10,745 SF
Lot Size0.86 Acres
Price / SF$102.37
Days on Market54
Property Features for 5719 Armour Drive
General Information
Standard status
Active
Size
10,745 SF
Lot size
0.86 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
11.5 ft
Office Build-Out
2,700 SF
Drive-In Doors
6
Voltage
240 V
Three-Phase Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Buildings
1
Stories
2
Building Size
10,745 SF
Listing Agency:
Partners
(713) 316-7059
Listed By:
Ryan DeGennaro · License #TX 9004042
Source:
Crexi
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 29 at 2:12PM
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 Partners
Investment Insights
Based on property information with market context.
This flex property at 5719 Armour Drive includes 10,745 SF of building area, with approximately 2,700 SF allocated to offices and an approximately 950 SF air-conditioned assembly area. The building provides 11.5' clear height, six grade-level doors, and 240 volt, 3 phase power for industrial operations. Exterior storage is also part of the property configuration.
The site encompasses 0.8634 acres in Houston, TX 77020. Flood risk is identified outside the 100/500-year areas, providing an additional site consideration for users evaluating the property.
The site encompasses 0.8634 acres in Houston, TX 77020. Flood risk is identified outside the 100/500-year areas, providing an additional site consideration for users evaluating the property.
Key Highlights
- 10,745 SF flex building on 0.8634 acres
- Approximately 2,700 SF of office space
- Approximately 950 SF air‑conditioned assembly 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
$79,087
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
7.19%
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%
$1,581,740
$1.6M
Cap Rate 7%
$1,129,814
$1.1M
Cap Rate 9%
$878,744
$878.7K
Market Conditions
NOI Build-Up for 10,745 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
$103.2K $9.60/SF
− Vacancy
−$10.1K −$0.94/SF
EGI
$93.0K $8.66/SF
− OpEx
−$14.0K −$1.30/SF
NOI
$79.1K $7.36/SF
Area
Houston, TX
Vacancy
9.80%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,581,740
Cap Rate 7%
$1,129,814
Cap Rate 9%
$878,744
Alternative Uses
Best Use
Flex RnD
$1.60M
$1.40M – $1.86M
NOI $111,888 @ 7.0% cap · market cap 10.17%
Second Best
Warehouse
$1.13M
$988.6K – $1.32M
NOI $79,087 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$2.76M
$2.42M – $3.22M
NOI $193,410 @ 7.0% cap · market cap 17.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with office, assembly, and exterior storage areas.
Where is this flex space located?
The property is located at 5719 Armour Drive Houston, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 10,745 SF flex building on 0.8634 acres; Approximately 2,700 SF of office space; Approximately 950 SF air‑conditioned assembly area
