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904 HOUSTON ST, Conroe, TX 77301
Professional office property near the Montgomery County Courthouse and downtown Conroe.
Property Size2,152 SF
Lot Size0.33 Acres
Price / SF$197.49
Days on Market7
Property Features for 904 HOUSTON ST
General Information
Standard status
Active
Size
2,152 SF
Lot size
0.33 Acres
Property subtype
Retail, Office
Investment Type
Owner/User
Building Details
Buildings
1
Units
1
Listing Agency:
Connect Realty
(281) 296-3100
Listed By:
David Boatner · License #TX 315137
Source:
Crexi
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 8:14PM
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 Connect Realty
Investment Insights
Based on property information with market context.
Located at 904 Houston Street, this professional office building contains approximately 2,152 square feet on a 0.33-acre corner lot. The property was formerly occupied by a law firm and offers a functional configuration for professional office operations.
The site is in historic Conroe, minutes from the Montgomery County Courthouse and downtown. Its setting supports consideration by attorneys, accountants, insurance agencies, title companies, financial advisors, medical practices, counseling practices, and other professional office users.
The site is in historic Conroe, minutes from the Montgomery County Courthouse and downtown. Its setting supports consideration by attorneys, accountants, insurance agencies, title companies, financial advisors, medical practices, counseling practices, and other professional office users.
Key Highlights
- Approximately 2,152 square feet of office space
- 0.33‑acre corner lot
- Former law firm occupancy
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
$25,229
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
5.94%
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%
$504,580
$504.6K
Cap Rate 7%
$360,414
$360.4K
Cap Rate 9%
$280,322
$280.3K
Market Conditions
NOI Build-Up for 2,152 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
$43.1K $20.04/SF
− Vacancy
−$9.5K −$4.41/SF
EGI
$33.6K $15.63/SF
− OpEx
−$8.4K −$3.91/SF
NOI
$25.2K $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%
$504,580
Cap Rate 7%
$360,414
Cap Rate 9%
$280,322
Alternative Uses
Best Use
Office B
$360.4K
$315.4K – $420.5K
NOI $25,229 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$543.3K
$475.4K – $633.8K
NOI $38,029 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
Explore this area
Business Placement
Demographics for 77301, TX
35,923
Population
12,854
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
75%
High-School Grad
20.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$64,885
Median Household Income
$35,575
Median Earnings
$1,229
Median Rent
$193,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property near the Montgomery County Courthouse and downtown Conroe.
Where is this office building located?
The property is located at 904 HOUSTON ST Conroe, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approximately 2,152 square feet of office space; 0.33‑acre corner lot; Former law firm occupancy
