Two-Story Office
For Sale
Contact for pricing
5902 Irvington Blvd, Houston, TX 77009
Two-story office building features a reception area, conference room, four private offices, and gated parking with 10 dedicated spaces.
Property Size2,146 SF
Price / SF$246.51
Days on Market110
Property Features for 5902 Irvington Blvd
General Information
Standard status
Active
Size
2,146 SF
Total Parking Spaces
10
Property subtype
Mixed Use, Office, Retail
Investment Type
Owner/User
Amenities
gated parking
Tesla charging station
Building Details
Stories
2
Listing Agency:
Chodrow Realty Advisors
Listed By:
Eric Rozelle · License #0551185
(832) 212-3051
Source:
Crexi
Added: May 21
Changed: Aug 16
Last Checked: Sep 5 at 10:21AM
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 Chodrow Realty Advisors
Investment Insights
Based on property information with market context.
This two-story office building offers a practical layout for professional use. Upstairs includes four private offices and a half-bath, while the downstairs level provides a spacious conference room, a welcoming reception area, a private office, a kitchen and breakroom, and a full bathroom.
The property sits on a corner lot with visibility, offering convenient access for clients and employees. Onsite parking is gated with 10 dedicated spaces, and a Tesla charging station is available.
Overall, the building is configured to support a compact office footprint with meeting space and multiple private offices within one functional structure.
The property sits on a corner lot with visibility, offering convenient access for clients and employees. Onsite parking is gated with 10 dedicated spaces, and a Tesla charging station is available.
Overall, the building is configured to support a compact office footprint with meeting space and multiple private offices within one functional structure.
Key Highlights
- Two‑story office building with reception area, conference room, and four private offices
- Downstairs includes a spacious conference room, reception area, kitchen and breakroom, plus a full bathroom
- Upstairs offers four private offices and one half‑bath
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
$25,031
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
4.73%
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%
$500,620
$500.6K
Cap Rate 7%
$357,586
$357.6K
Cap Rate 9%
$278,122
$278.1K
Market Conditions
NOI Build-Up for 2,146 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
$46.4K $21.60/SF
− Vacancy
−$13.0K −$6.05/SF
EGI
$33.4K $15.55/SF
− OpEx
−$8.3K −$3.89/SF
NOI
$25.0K $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%
$500,620
Cap Rate 7%
$357,586
Cap Rate 9%
$278,122
Alternative Uses
Best Use
Office B
$357.6K
$312.9K – $417.2K
NOI $25,031 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$551.8K
$482.9K – $643.8K
NOI $38,628 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building features a reception area, conference room, four private offices, and gated parking with 10 dedicated spaces.
Where is this office building located?
The property is located at 5902 Irvington Blvd Houston, TX.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two‑story office building with reception area, conference room, and four private offices; Downstairs includes a spacious conference room, reception area, kitchen and breakroom, plus a full bathroom; Upstairs offers four private offices and one half‑bath
