Industrial Flex Warehouse With Two
For Sale
Contact for pricing
9013 PAGEWOOD LN, Houston, TX 77063
Modern 2021-built flex warehouse with two separate bays, suited for a range of light industrial and service uses.
Property Size4,950 SF
Price / SF$247.27
Days on Market84
Property Features for 9013 PAGEWOOD LN
General Information
Standard status
Active
Size
4,950 SF
Class
B
Property subtype
Industrial
Zoning
Commercial
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
2021
Year Renovated
2021
Stories
1
Units
2
Tenancy
Single
Listing Agency:
SKW Realty
Listed By:
Serene Wong · License #0688577
Source:
Crexi
Added: Jun 11
Changed: Aug 24
Last Checked: Aug 29 at 9:54PM
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 SKW Realty
Investment Insights
Based on property information with market context.
9013 Pagewood Ln is a modern 2021 industrial flex warehouse featuring two separate warehouse bays, Unit A and Unit B, with functional layouts for automotive, contractor, warehouse, fabrication, storage, light industrial, and service-related users. The property includes secured access, heavy concrete paving, and grade-level loading capability, designed for practical daily operations. With flexible warehouse functionality, the layout supports users that need dedicated space and straightforward logistics.
The property is located in the Westpark/Galleria submarket of Houston within an established industrial corridor. It is positioned for convenient access to the Westpark Tollway, Beltway 8, and US-59/I-69, providing connectivity to Houston’s major commercial districts.
For buyers and investors, the asset is currently leased at $6,200 per month, supporting immediate in-place income. Existing tenants are open to entering into a new lease agreement with a purchaser, which may provide continuity for an owner looking to stabilize occupancy while planning future operations. For end users, the two-bay configuration and grade-level loading can support light industrial and service workflows that benefit from flexible warehouse space and dedicated operational areas.
The property is located in the Westpark/Galleria submarket of Houston within an established industrial corridor. It is positioned for convenient access to the Westpark Tollway, Beltway 8, and US-59/I-69, providing connectivity to Houston’s major commercial districts.
For buyers and investors, the asset is currently leased at $6,200 per month, supporting immediate in-place income. Existing tenants are open to entering into a new lease agreement with a purchaser, which may provide continuity for an owner looking to stabilize occupancy while planning future operations. For end users, the two-bay configuration and grade-level loading can support light industrial and service workflows that benefit from flexible warehouse space and dedicated operational areas.
Key Highlights
- 2021‑built industrial flex warehouse with approximately 4,950 SF and two separate warehouse bays (Unit A and Unit B)
- 110,000 SF lot with secured access and heavy concrete paving for industrial use
- Grade‑level loading capability and functional layout suited for light industrial and service‑related users
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
$51,544
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
4.21%
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%
$1,030,880
$1.0M
Cap Rate 7%
$736,343
$736.3K
Cap Rate 9%
$572,711
$572.7K
Market Conditions
NOI Build-Up for 4,950 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
$89.1K $18.00/SF
− Vacancy
−$9.8K −$1.98/SF
EGI
$79.3K $16.02/SF
− OpEx
−$27.8K −$5.61/SF
NOI
$51.5K $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%
$1,030,880
Cap Rate 7%
$736,343
Cap Rate 9%
$572,711
Alternative Uses
Best Use
Flex RnD
$736.3K
$644.3K – $859.1K
NOI $51,544 @ 7.0% cap · market cap 4.21%
Second Best
Warehouse
$520.5K
$455.4K – $607.2K
NOI $36,434 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,100 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,847
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77063, TX
38,298
Population
22,625
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
92%
High-School Grad
4.5 sq mi
ZIP Area
8,511
Density / Sq Mi
$54,509
Median Household Income
$40,346
Median Earnings
$1,334
Median Rent
$281,300
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
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Frequently Asked Questions
What type of property is this?
Flex space - Modern 2021-built flex warehouse with two separate bays, suited for a range of light industrial and service uses.
Where is this flex space located?
The property is located at 9013 PAGEWOOD LN Houston, TX.
What is the asking price?
The asking price for this property is $1,224,000.
What are key features of this property?
This property features: 2021‑built industrial flex warehouse with approximately 4,950 SF and two separate warehouse bays (Unit A and Unit B); 110,000 SF lot with secured access and heavy concrete paving for industrial use; Grade‑level loading capability and functional layout suited for light industrial and service‑related users
