Triplex with Detached Auxiliary
For Sale
$1,000,000
9114 1/2 N Green River Drive, Houston, TX 77078
Three residential units sit on a cleared lot with a carport and separate auxiliary structure.
Property Size3,798 SF
Price / SF$263.30
Days on Market247
Property Features for 9114 1/2 N Green River Drive
General Information
Standard status
Active
Size
3,798 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,574
Amenities
Yes
1
2
Appraiser
Cleared
94756
Carport
3798
Building Details
Building Size
3,798 SF
Year Built
1996
Stories
2
Listing Agency:
Supreme Real Estate, TX
(713) 502-6851
Listed By:
Rubi Hinojosa
(713) 502-6851
Source:
Garygreene
Added: Dec 26, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:37PM
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 Supreme Real Estate, TX
Investment Insights
Based on property information with market context.
This 3-unit residential property contains approximately 3,798 square feet in the main building, with one 1BR/1BA unit and two 2BR/1BA units. A detached 1BR office/flex building adds a full bathroom and is paired with a covered carport. The auxiliary building’s permitted use should be independently verified.
The cleared lot provides gravel stabilization and extensive on-site parking capacity. The property offers access to I-10, Loop 610, and US-59, with proximity to Downtown Houston, the Port of Houston, and major industrial employment centers. The property is tenant-occupied, and showings are available by appointment only.
The cleared lot provides gravel stabilization and extensive on-site parking capacity. The property offers access to I-10, Loop 610, and US-59, with proximity to Downtown Houston, the Port of Houston, and major industrial employment centers. The property is tenant-occupied, and showings are available by appointment only.
Key Highlights
- 3‑unit residential property with one 1BR/1BA unit and two 2BR/1BA units
- Approximately 3,798 SF in the main structure
- Detached 1BR office/flex building with full BA
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
$49,745
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
4.97%
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%
$994,900
$994.9K
Cap Rate 7%
$710,643
$710.6K
Cap Rate 9%
$552,722
$552.7K
Market Conditions
NOI Build-Up for 3,798 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
$75.2K $19.80/SF
− Vacancy
−$4.1K −$1.09/SF
EGI
$71.1K $18.71/SF
− OpEx
−$21.3K −$5.61/SF
NOI
$49.7K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$994,900
Cap Rate 7%
$710,643
Cap Rate 9%
$552,722
Alternative Uses
Best Use
Multifamily LT 5
$710.6K
$621.8K – $829.1K
NOI $49,745 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$614.7K
$537.9K – $717.1K
NOI $43,028 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$976.6K
$854.6K – $1.14M
NOI $68,364 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 77078, TX
14,855
Population
5,607
Households
2.6
Avg Household Size
33
Median Age
12%
College-Educated
73%
High-School Grad
10.3 sq mi
ZIP Area
1,442
Density / Sq Mi
$38,838
Median Household Income
$28,600
Median Earnings
$1,336
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units sit on a cleared lot with a carport and separate auxiliary structure.
Where is this triplex located?
The property is located at 9114 1/2 N Green River Drive Houston, TX.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3‑unit residential property with one 1BR/1BA unit and two 2BR/1BA units; Approximately 3,798 SF in the main structure; Detached 1BR office/flex building with full BA
