Two-Story Office Building
For Sale
Contact for pricing
26310 Oak Ridge Dr, Spring, TX 77380
Two-story office building with 42 tenants near major thoroughfares.
Property Size21,320 SF
Price / SF$257.97
Days on Market1028
Property Features for 26310 Oak Ridge Dr
General Information
Standard status
Active
Size
21,320 SF
Class
B
Total Parking Spaces
51
Property subtype
Office
Occupancy
95%
Lease Type
Modified Gross
Net Operating Income
$250,700
Building Details
Year Built
2014
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
eXp Realty
(281) 723-3336
Listed By:
Bill Smith · License #TX 291078
Source:
Crexi
Added: Nov 6, 2023
Changed: Aug 25
Last Checked: Aug 29 at 8:05AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This two-story office building presents an investment opportunity in a prime location. The property is situated minutes from I-45, Hardy Toll Road, and Grand Parkway, offering convenient access to amenities in The Woodlands. The building accommodates 42 tenants and has one current vacancy. The owner occupies approximately 1,000 square feet within the 21,320 square foot building.
Key Highlights
- Prime location near I‑45, Hardy Toll Rd, and Grand Parkway.
- Proximity to amenities in The Woodlands.
- Two‑story office building with 42 tenants.
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
$249,943
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
4.54%
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%
$4,998,860
$5.0M
Cap Rate 7%
$3,570,614
$3.6M
Cap Rate 9%
$2,777,144
$2.8M
Market Conditions
NOI Build-Up for 21,320 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
$427.3K $20.04/SF
− Vacancy
−$94.0K −$4.41/SF
EGI
$333.3K $15.63/SF
− OpEx
−$83.3K −$3.91/SF
NOI
$249.9K $11.72/SF
Area
Montgomery County, TX
Vacancy
22.00%
Lease Rate
$20.04 /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%
$4,998,860
Cap Rate 7%
$3,570,614
Cap Rate 9%
$2,777,144
Alternative Uses
Best Use
Office B
$3.57M
$3.12M – $4.17M
NOI $249,943 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,760 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,278
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with 42 tenants near major thoroughfares.
Where is this office building located?
The property is located at 26310 Oak Ridge Dr Spring, TX.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Prime location near I‑45, Hardy Toll Rd, and Grand Parkway.; Proximity to amenities in The Woodlands.; Two‑story office building with 42 tenants.
