Flex Space with Warehouse
For Sale
Contact for pricing
603 Commerce St, Clute, TX 77531
Flex space offering multiple units with private office, restroom, and large bay doors plus an additional warehouse area.
Property Size9,800 SF
Price / SF$58.67
Days on Market175
Property Features for 603 Commerce St
General Information
Standard status
Active
Size
9,800 SF
Property subtype
Industrial, Mixed Use, Office
Building Details
Year Built
1991
Year Renovated
2023
Listing Agency:
Birdsong Real Estate
Listed By:
RYAN BIRDSONG · License #522256
(979) 292-6205
Source:
Crexi
Added: Mar 17
Changed: Sep 6
Last Checked: Sep 7 at 12:32AM
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 Birdsong Real Estate
Investment Insights
Based on property information with market context.
This flex space property is configured as four separate units, each with a private office, restroom, and two large bay doors. In addition, the site includes a 5,000-square-foot warehouse area. The property is described as move-in ready.
The offering is located in a desirable industrial area at 603 Commerce St in Clute, Texas. Public remarks note plenty of parking and easy access to major roads.
Overall, the improvements support contractor and service-oriented layouts, combining office accommodations with warehouse bay access across multiple units.
The offering is located in a desirable industrial area at 603 Commerce St in Clute, Texas. Public remarks note plenty of parking and easy access to major roads.
Overall, the improvements support contractor and service-oriented layouts, combining office accommodations with warehouse bay access across multiple units.
Key Highlights
- Year built 1991 flex space in an industrial area
- Configured with 4 units of approximately 1,400 SF each, with one private office, restroom, and two large bay doors per unit
- Includes a 5,000 SF warehouse 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
$50,466
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
8.78%
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%
$1,009,320
$1.0M
Cap Rate 7%
$720,943
$720.9K
Cap Rate 9%
$560,733
$560.7K
Market Conditions
NOI Build-Up for 9,800 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
$78.8K $8.04/SF
− Vacancy
−$6.7K −$0.68/SF
EGI
$72.1K $7.36/SF
− OpEx
−$21.6K −$2.21/SF
NOI
$50.5K $5.15/SF
Area
Brazoria County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,009,320
Cap Rate 7%
$720,943
Cap Rate 9%
$560,733
Alternative Uses
Best Use
Office B
$2.34M
$2.05M – $2.73M
NOI $163,608 @ 7.0% cap · market cap 28.45%
Second Best
Warehouse
$875.4K
$766.0K – $1.02M
NOI $61,280 @ 7.0% cap · market cap 10.66%
Theoretical Best
Multifamily LT 5
$122.08M
$106.82M – $142.43M
NOI $8,545,883 @ 7.0% cap · market cap 1,486.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77531, TX
15,666
Population
7,502
Households
2.1
Avg Household Size
33
Median Age
17%
College-Educated
83%
High-School Grad
11.7 sq mi
ZIP Area
1,339
Density / Sq Mi
$71,583
Median Household Income
$40,817
Median Earnings
$1,217
Median Rent
$236,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space offering multiple units with private office, restroom, and large bay doors plus an additional warehouse area.
Where is this flex space located?
The property is located at 603 Commerce St Clute, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Year built 1991 flex space in an industrial area; Configured with 4 units of approximately 1,400 SF each, with one private office, restroom, and two large bay doors per unit; Includes a 5,000 SF warehouse area
