Multi-Building Mixed-Use
For Sale
Contact for pricing
8245 North Freeway, Houston, TX 77037
Three commercial buildings combine office, showroom, automotive service, and industrial warehouse functions.
Property Size44,700 SF
Price / SF$110.74
Days on Market91
Property Features for 8245 North Freeway
General Information
Standard status
Active
Size
44,700 SF
Total Parking Spaces
100
Property subtype
Office, Industrial, Mixed Use
Lease Type
NNN
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
17,000 SF
Dock-High Doors
2
Drive-In Doors
2
Power
300 amps
Voltage
480 V
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Road Access
Yes
Service Bays
12
Amenities
professional-grade paint booth
dual access to Veterans Memorial Road and frontage road
22-foot clear height
2 dock-high doors
2 drive-in grade-level doors
3-phase power (480 volts, 300 amps)
Building Details
Year Built
1983
Year Renovated
2020
Buildings
3
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Riverflow Commercial Properties
(832) 516-9515
Listed By:
Carlos Iglesias · License #TX 519499
Source:
Crexi
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 11:51PM
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 Riverflow Commercial Properties
Investment Insights
Based on property information with market context.
This mixed-use commercial property comprises three buildings totaling 44,700 square feet. Building 1 is a renovated three-story office and showroom completed in 2020, with 3,700 square feet on each floor and vacant delivery. Building 2 contains a 13,600-square-foot full-service paint and body shop with 12 bays, a paint booth, and 1,000 square feet of office space. The building currently has two tenants, with leases conveyed with the purchase. Building 3 offers 20,000 square feet, including 2,000 square feet of front showroom and office space, 1,000 square feet of rear office space, and a 17,000-square-foot warehouse. It includes a 22-foot clear height, 2 dock-high doors, 2 drive-in grade-level doors, and 3-phase power rated at 480 volts and 300 amps. Building 3 will be conveyed vacant.
The property has dual access to Veterans Memorial Road and the frontage road, supporting customer and delivery access. The asset was built in 1983 and is located in Houston, Texas.
The property has dual access to Veterans Memorial Road and the frontage road, supporting customer and delivery access. The asset was built in 1983 and is located in Houston, Texas.
Key Highlights
- 44,700 SF total across three commercial buildings
- Building 1: renovated in 2020 with 11,100 SF across three floors
- Building 2: 13,600 SF paint and body shop with 12 bays and a paint booth
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
$329,006
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
6.65%
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%
$6,580,120
$6.6M
Cap Rate 7%
$4,700,086
$4.7M
Cap Rate 9%
$3,655,622
$3.7M
Market Conditions
NOI Build-Up for 44,700 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
$429.1K $9.60/SF
− Vacancy
−$42.1K −$0.94/SF
EGI
$387.1K $8.66/SF
− OpEx
−$58.1K −$1.30/SF
NOI
$329.0K $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%
$6,580,120
Cap Rate 7%
$4,700,086
Cap Rate 9%
$3,655,622
Alternative Uses
Best Use
Retail
$8.66M
$7.58M – $10.10M
NOI $606,115 @ 7.0% cap · market cap 12.24%
Second Best
Mixed Use
$8.43M
$7.38M – $9.83M
NOI $590,040 @ 7.0% cap · market cap 11.92%
Theoretical Best
Office A
$11.49M
$10.06M – $13.41M
NOI $804,600 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
2
Dock-high doors
2
Drive-in doors
12
Service bays
Yes
Heavy power
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 77037, TX
19,569
Population
5,312
Households
3.7
Avg Household Size
31
Median Age
7%
College-Educated
51%
High-School Grad
6.2 sq mi
ZIP Area
3,156
Density / Sq Mi
$46,176
Median Household Income
$30,779
Median Earnings
$1,056
Median Rent
$160,500
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three commercial buildings combine office, showroom, automotive service, and industrial warehouse functions.
Where is this mixed-use property located?
The property is located at 8245 North Freeway Houston, TX.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 44,700 SF total across three commercial buildings; Building 1: renovated in 2020 with 11,100 SF across three floors; Building 2: 13,600 SF paint and body shop with 12 bays and a paint booth
