Updated Warehouse and
For Sale
$495,000
6229 Dixie Drive, Houston, TX 77087
Updated warehouse on a development-oriented lot, offering an established building for industrial uses in Houston.
Property Size4,740 SF
Price / SF$104.43
Days on Market374
Property Features for 6229 Dixie Drive
General Information
Standard status
Active
Size
4,740 SF
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$4,160
Amenities
Split Possible
Public
7802
0.1791
Appraiser
Listing Agency:
Apex Brokerage, LLC
(281) 486-1900
Listed By:
Pansy Granberry
(281) 415-8606
Source:
Garygreene
Added: Aug 28, 2025
Changed: Sep 4
Last Checked: Aug 8 at 3:58AM
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 Apex Brokerage, LLC
Investment Insights
Based on property information with market context.
This offering includes a lot with an updated warehouse building. The building is identified as having 4,740 square feet, giving buyers an existing structure for a range of industrial and storage-oriented uses.
The property is located at 6229 Dixie Drive in Houston, TX 77087. In the seller’s remarks, the area is described as having substantial ongoing development, including new development referenced across the street.
For buyers looking for an industrial land-and-building combination, the existing, updated warehouse provides a starting point for occupancy or redevelopment while retaining the flexibility that comes with owning the associated lot. Prospective tenants and purchasers should verify intended use and site requirements directly, as specific zoning and site details are not provided in the materials.
The property is located at 6229 Dixie Drive in Houston, TX 77087. In the seller’s remarks, the area is described as having substantial ongoing development, including new development referenced across the street.
For buyers looking for an industrial land-and-building combination, the existing, updated warehouse provides a starting point for occupancy or redevelopment while retaining the flexibility that comes with owning the associated lot. Prospective tenants and purchasers should verify intended use and site requirements directly, as specific zoning and site details are not provided in the materials.
Key Highlights
- Updated warehouse building totaling 4,740 sq ft
- Warehouse sits on a lot positioned for industrial/trade use
- Property is located across the street from major ongoing development
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
$34,888
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
7.05%
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%
$697,760
$697.8K
Cap Rate 7%
$498,400
$498.4K
Cap Rate 9%
$387,644
$387.6K
Market Conditions
NOI Build-Up for 4,740 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
$45.5K $9.60/SF
− Vacancy
−$4.5K −$0.94/SF
EGI
$41.0K $8.66/SF
− OpEx
−$6.2K −$1.30/SF
NOI
$34.9K $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%
$697,760
Cap Rate 7%
$498,400
Cap Rate 9%
$387,644
Alternative Uses
Best Use
Warehouse
$498.4K
$436.1K – $581.5K
NOI $34,888 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,320 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Updated warehouse on a development-oriented lot, offering an established building for industrial uses in Houston.
Where is this warehouse located?
The property is located at 6229 Dixie Drive Houston, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Updated warehouse building totaling 4,740 sq ft; Warehouse sits on a lot positioned for industrial/trade use; Property is located across the street from major ongoing development
