The Woodlands Office Condo For
For Sale
$650,000
7 Grogans Park Drive, The Woodlands, TX 77380
3,040 SF office condo in The Woodlands, Texas.
Property Size3,040 SF
Price / SF$213.82
Days on Market207
Property Features for 7 Grogans Park Drive
General Information
Standard status
Active
Size
3,040 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,040 SF
Year Built
2006
Listing Agency:
SVN | J. Beard Real Estate - Greater Houston
(346) 328-0450
Listed By:
Jacquelyn Prosch · License #519836
(346) 328-0450
Source:
Svn
Added: Jan 27
Changed: Aug 9
Last Checked: Aug 21 at 4:56AM
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 SVN | J. Beard Real Estate - Greater Houston
Investment Insights
Based on property information with market context.
This 3,040 square foot office condo is for sale in The Woodlands. The two-story, stand-alone brick building features four private offices, a reception area, a kitchenette, two bathrooms, a conference room, additional multipurpose space, an IT room, and ample storage. Interior details include two fireplaces, high ceilings, plantation shutters, and hardwood flooring. Dedicated parking is available. The property is located on Grogan's Park Drive in The Woodlands, between Grogan's Mill and Sawdust Road, with proximity to Interstate 45. It is also located minutes from The Woodlands Town Center, Waterway and Springwoods Village with easy access to Hardy Toll Road and the Grand Pkwy Toll Rd (SH 99). Numerous amenities, including coffee shops, retail options, and restaurants, are within walking distance.
Key Highlights
- Prime location in The Woodlands, close to Town Center, Waterway, and Springwoods Village.
- Easy access to I‑45, Hardy Toll Road, and Grand Pkwy (SH 99).
- Stand‑alone, 2‑story brick office condo with 3,040 SF.
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
$49,688
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
7.64%
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%
$993,760
$993.8K
Cap Rate 7%
$709,829
$709.8K
Cap Rate 9%
$552,089
$552.1K
Market Conditions
NOI Build-Up for 3,040 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
$92.7K $30.48/SF
− Vacancy
−$26.4K −$8.69/SF
EGI
$66.3K $21.79/SF
− OpEx
−$16.6K −$5.45/SF
NOI
$49.7K $16.34/SF
Area
The Woodlands, TX
Vacancy
28.50%
Lease Rate
$30.48 /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%
$993,760
Cap Rate 7%
$709,829
Cap Rate 9%
$552,089
Alternative Uses
Best Use
Office B
$709.8K
$621.1K – $828.1K
NOI $49,688 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$938.1K
$820.8K – $1.09M
NOI $65,664 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 77380, TX
27,651
Population
16,232
Households
1.7
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
2,230
Density / Sq Mi
$84,468
Median Household Income
$51,286
Median Earnings
$1,607
Median Rent
$343,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 3,040 SF office condo in The Woodlands, Texas.
Where is this office units located?
The property is located at 7 Grogans Park Drive The Woodlands, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime location in The Woodlands, close to Town Center, Waterway, and Springwoods Village.; Easy access to I‑45, Hardy Toll Road, and Grand Pkwy (SH 99).; Stand‑alone, 2‑story brick office condo with 3,040 SF.
