Mixed-Use Commercial
For Sale
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7022 OLD KATY RD, Houston, TX 77024
Customizable commercial condominium space within Houston’s Design Center, offering a flexible ownership format for businesses and entrepreneurs.
Property Size8,952 SF
Price / SF$465
Days on Market20
Property Features for 7022 OLD KATY RD
General Information
Standard status
Active
Size
8,952 SF
Class
A
Total Parking Spaces
6
Property subtype
Office, Mixed Use, Special Purpose
Zoning
Commercial
Lease Type
NN
Building Details
Year Built
2026
Buildings
1
Units
6
Listing Agency:
SERHANT
(214) 766-5833
Listed By:
Michael Petersen · License #825922
Source:
Crexi
Added: Aug 5
Changed: Aug 21
Last Checked: Aug 22 at 2:16PM
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 SERHANT
Investment Insights
Based on property information with market context.
Units 202–207 comprise an 8,952-square-foot commercial condominium within the XSpace Houston development. The property is planned as a customizable ownership environment rather than a conventional commercial suite, with a design focused on flexibility, security, and business use. Commercial zoning supports its position as a purpose-built mixed-use asset.
The development is located at 7022 Old Katy Rd in Houston’s Design Center. Its architectural concept was developed by Francisco Gonzalez Pulido of FGP Atelier, whose cited portfolio includes projects in Mexico, Las Vegas, Shanghai, and Mexico City. XSpace Houston is part of the XSpace Group’s broader national expansion and is positioned within an ownership platform serving entrepreneurs, executives, collectors, investors, creatives, and businesses.
The development is located at 7022 Old Katy Rd in Houston’s Design Center. Its architectural concept was developed by Francisco Gonzalez Pulido of FGP Atelier, whose cited portfolio includes projects in Mexico, Las Vegas, Shanghai, and Mexico City. XSpace Houston is part of the XSpace Group’s broader national expansion and is positioned within an ownership platform serving entrepreneurs, executives, collectors, investors, creatives, and businesses.
Key Highlights
- 8,952 SF spanning Units 202–207
- Commercial zoning
- Located at 7022 Old Katy Rd, Houston, TX 77024
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
$121,386
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
2.92%
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%
$2,427,720
$2.4M
Cap Rate 7%
$1,734,086
$1.7M
Cap Rate 9%
$1,348,733
$1.3M
Market Conditions
NOI Build-Up for 8,952 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
$183.7K $20.52/SF
− Vacancy
−$10.3K −$1.15/SF
EGI
$173.4K $19.37/SF
− OpEx
−$52.0K −$5.81/SF
NOI
$121.4K $13.56/SF
Area
Houston, TX
Vacancy
5.60%
Lease Rate
$20.52 /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%
$2,427,720
Cap Rate 7%
$1,734,086
Cap Rate 9%
$1,348,733
Alternative Uses
Best Use
Retail
$1.73M
$1.52M – $2.02M
NOI $121,386 @ 7.0% cap · market cap 2.92%
Second Best
Mixed Use
$1.69M
$1.48M – $1.97M
NOI $118,166 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$2.30M
$2.01M – $2.69M
NOI $161,136 @ 7.0% cap · market cap 3.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 77024, TX
39,565
Population
18,599
Households
2.1
Avg Household Size
43
Median Age
76%
College-Educated
98%
High-School Grad
13.0 sq mi
ZIP Area
3,043
Density / Sq Mi
$142,039
Median Household Income
$79,144
Median Earnings
$1,796
Median Rent
$1,164,400
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?
Mixed-use property - Customizable commercial condominium space within Houston’s Design Center, offering a flexible ownership format for businesses and entrepreneurs.
Where is this mixed-use property located?
The property is located at 7022 OLD KATY RD Houston, TX.
What is the asking price?
The asking price for this property is $4,162,680.
What are key features of this property?
This property features: 8,952 SF spanning Units 202–207; Commercial zoning; Located at 7022 Old Katy Rd, Houston, TX 77024
