Auto Body Shop with Live-Work
For Sale
Contact for pricing
7845 Lettie Street, Houston, TX 77075
For sale auto body and paint shop with a fenced yard, high-clearance shop building, and an office/apartment.
Property Size6,000 SF
Lot Size0.77 Acres
Price / SF$126.67
Days on Market104
Property Features for 7845 Lettie Street
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
8
Lot size
0.77 Acres
Property subtype
Office, Industrial
Warehouse & Industrial
Clear Height
16 ft
Heavy Power
Yes
Additional Details
Fenced Yard
Yes
Building Details
Construction
metal building
Listing Agency:
My Castle Realty
Listed By:
Gary Bisha · License #TX 0508227
(713) 683-0054
Source:
Crexi
Added: May 28
Changed: Sep 7
Last Checked: Sep 8 at 6:01AM
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 My Castle Realty
Investment Insights
Based on property information with market context.
This property is currently operating as a fully functional auto body and paint shop within a 6,000 SF metal building. The facility includes 3-phase electrical service, two overhead doors, and an approximately 16’ eave height, supporting a range of automotive and light industrial uses. The site also features a spacious 2,000+ SF office/apartment designed for live/work flexibility, with central A/C, a dedicated office area, a full kitchen, and three bedrooms with 1.5 baths.
A fully fenced yard provides added security and includes two gated access points. Additional exterior improvements include a covered 6–8 car carport constructed from shipping containers, along with the shop’s existing automotive-ready setup.
The combination of a high-clearance shop, functional utilities, and an on-site office/apartment configuration makes this a versatile option for an owner-user or an investor seeking a multi-use commercial property.
A fully fenced yard provides added security and includes two gated access points. Additional exterior improvements include a covered 6–8 car carport constructed from shipping containers, along with the shop’s existing automotive-ready setup.
The combination of a high-clearance shop, functional utilities, and an on-site office/apartment configuration makes this a versatile option for an owner-user or an investor seeking a multi-use commercial property.
Key Highlights
- Auto body and paint shop currently operating, with a 6,000 SF metal building for automotive or light industrial use
- Approx. 0.77‑acre fenced lot with two gated access points and a shipping‑container 6–8 car covered carport
- Shop has 3‑phase electrical service, two overhead doors, and 16' eave height for larger vehicles and equipment
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
$62,478
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
8.22%
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%
$1,249,560
$1.2M
Cap Rate 7%
$892,543
$892.5K
Cap Rate 9%
$694,200
$694.2K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$11.9K −$1.98/SF
EGI
$96.1K $16.02/SF
− OpEx
−$33.6K −$5.61/SF
NOI
$62.5K $10.41/SF
Area
Houston, TX
Vacancy
11.00%
Lease Rate
$18.00 /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%
$1,249,560
Cap Rate 7%
$892,543
Cap Rate 9%
$694,200
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,358 @ 7.0% cap · market cap 10.71%
Second Best
Mixed Use
$1.13M
$990.0K – $1.32M
NOI $79,200 @ 7.0% cap · market cap 10.42%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77075, TX
38,873
Population
13,267
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
70%
High-School Grad
11.2 sq mi
ZIP Area
3,471
Density / Sq Mi
$71,509
Median Household Income
$34,327
Median Earnings
$1,225
Median Rent
$219,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Auto shop - For sale auto body and paint shop with a fenced yard, high-clearance shop building, and an office/apartment.
Where is this auto shop located?
The property is located at 7845 Lettie Street Houston, TX.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Auto body and paint shop currently operating, with a 6,000 SF metal building for automotive or light industrial use; Approx. 0.77‑acre fenced lot with two gated access points and a shipping‑container 6–8 car covered carport; Shop has 3‑phase electrical service, two overhead doors, and 16' eave height for larger vehicles and equipment
