Unrestricted Land with Warehouse &
For Sale
Contact for pricing
7438 Wright Rd, Houston, TX 77041
Fully fenced five-acre site with two entrances and multiple buildings, including a three-bay warehouse and two office buildings.
Property Size18,898 SF
Price / SF$264.58
Days on Market134
Property Features for 7438 Wright Rd
General Information
Standard status
Active
Size
18,898 SF
Property subtype
INDUSTRIAL
Listing Agency:
Coldwell Banker Realty
(281) 378-1800
Listed By:
Kevin Schamel · License #0587100
(281) 954-1152
Source:
Moodyscre
Added: May 4
Changed: Aug 19
Last Checked: Sep 13 at 5:17AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This unrestricted land holding features a fully fenced property with two entrances and extensive improvements. Improvements include a main house, guest house, a warehouse with three bays, two office buildings, storage, and lots of covered areas. Additional on-site amenities include a horse stable, dog kennel, and dog run, along with utilities support consisting of a well and five commercial septic systems. City utilities are available but not currently connected.
The property is located at 7438 Wright Rd in Houston, TX 77041, and the new Jersey Village City Hall will back up to the site.
With its combination of unrestricted land and multiple building types, the property is described as suitable for a range of residential, commercial, and agricultural uses.
The property is located at 7438 Wright Rd in Houston, TX 77041, and the new Jersey Village City Hall will back up to the site.
With its combination of unrestricted land and multiple building types, the property is described as suitable for a range of residential, commercial, and agricultural uses.
Key Highlights
- 5‑acre, unrestricted property with two entrances and fully fenced perimeter
- Multiple structures on‑site, including a main house and guest house
- Warehouse with three bays plus two office buildings
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
$220,426
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
4.41%
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%
$4,408,520
$4.4M
Cap Rate 7%
$3,148,943
$3.1M
Cap Rate 9%
$2,449,178
$2.4M
Market Conditions
NOI Build-Up for 18,898 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
$408.2K $21.60/SF
− Vacancy
−$114.3K −$6.05/SF
EGI
$293.9K $15.55/SF
− OpEx
−$73.5K −$3.89/SF
NOI
$220.4K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$4,408,520
Cap Rate 7%
$3,148,943
Cap Rate 9%
$2,449,178
Alternative Uses
Best Use
Office B
$3.15M
$2.76M – $3.67M
NOI $220,426 @ 7.0% cap · market cap 4.41%
Second Best
Warehouse
$1.99M
$1.74M – $2.32M
NOI $139,095 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$4.86M
$4.25M – $5.67M
NOI $340,164 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77041, TX
35,958
Population
11,877
Households
3
Avg Household Size
38
Median Age
38%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,903
Density / Sq Mi
$79,164
Median Household Income
$40,991
Median Earnings
$1,638
Median Rent
$269,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Houston, TX
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully fenced five-acre site with two entrances and multiple buildings, including a three-bay warehouse and two office buildings.
Where is this warehouse located?
The property is located at 7438 Wright Rd Houston, TX.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 5‑acre, unrestricted property with two entrances and fully fenced perimeter; Multiple structures on‑site, including a main house and guest house; Warehouse with three bays plus two office buildings
