Conroe Mixed-Use Investment
For Sale
Contact for pricing
610 S Frazier St, Conroe, TX 77301
41,000 SF mixed-use property with value-add potential in Conroe.
Property Size41,000 SF
Lot Size2.10 Acres
Price / SF$53.66
Days on Market207
Property Features for 610 S Frazier St
General Information
Standard status
Active
Size
41,000 SF
Lot size
2.10 Acres
Property subtype
Industrial
Occupancy
82%
Building Details
Tenancy
Multi
Listing Agency:
Evermark Commercial Group
(713) 684-2879
Listed By:
Wes Pratka · License #606823
Source:
Crexi
Added: Jan 26
Changed: Aug 16
Last Checked: Aug 18 at 8:43PM
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 Evermark Commercial Group
Investment Insights
Based on property information with market context.
This mixed-use property in Conroe, Texas, offers approximately 41,000 square feet of space on a lot of approximately 2.1 acres. The property includes flex space, industrial space, warehouse space, office units, office space, apartment buildings, multifamily space, residential income property, and commercial real estate. The property is currently 82% leased and features city water, sewer, and natural gas. It has 3-phase, 480v power. The property includes approximately 8,000 square feet of office space, approximately 30,000 square feet of warehouse space, and approximately 3,000 square feet of apartment space. The property offers the potential to increase rents immediately and has easy access to I-45, Hwy 105, and Loop 336. The property is located outside of all flood zones.
Key Highlights
- Easy access to I‑45, Hwy 105, and Loop 336
- Currently 82% leased
- Outside of all flood zones
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
$200,339
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
9.11%
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%
$4,006,780
$4.0M
Cap Rate 7%
$2,861,986
$2.9M
Cap Rate 9%
$2,225,989
$2.2M
Market Conditions
NOI Build-Up for 41,000 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
$329.6K $8.04/SF
− Vacancy
−$21.4K −$0.52/SF
EGI
$308.2K $7.52/SF
− OpEx
−$107.9K −$2.63/SF
NOI
$200.3K $4.89/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
35.00%
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%
$4,006,780
Cap Rate 7%
$2,861,986
Cap Rate 9%
$2,225,989
Alternative Uses
Best Use
Industrial
$2.98M
$2.61M – $3.48M
NOI $208,681 @ 7.0% cap · market cap 9.49%
Second Best
Flex RnD
$2.86M
$2.50M – $3.34M
NOI $200,339 @ 7.0% cap · market cap 9.11%
Theoretical Best
Specialty Retail
$10.35M
$9.06M – $12.08M
NOI $724,539 @ 7.0% cap · market cap 32.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77301, TX
35,923
Population
12,854
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
75%
High-School Grad
20.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$64,885
Median Household Income
$35,575
Median Earnings
$1,229
Median Rent
$193,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sierra catering — 900 W Davis St, Conroe, TX 77301
- TastyAFKitchen — 539 N Frazier St, Conroe, TX 77301
Frequently Asked Questions
What type of property is this?
Flex space - 41,000 SF mixed-use property with value-add potential in Conroe.
Where is this flex space located?
The property is located at 610 S Frazier St Conroe, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Easy access to I‑45, Hwy 105, and Loop 336; Currently 82% leased; Outside of all flood zones
