Building Details

Year Built 2024

Stories 1

Listing Agency: Edmonds & Company

Listed By: Todd Edmonds · License #TX 397499 Show Phone

Source: Crexi

Added: Apr 9, 2024 Changed: Sep 10 Last Checked: Sep 14 at 7:49AM

Report an Issue

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 Edmonds & Company

Investment Insights

Based on property information with market context.

This 1,225 square foot office unit includes four offices, a lounge, a restroom, closets, and a reception area. The interior office features two transom casement windows to allow natural light. The single-story unit has private entrances and commercial-grade finishes. It is equipped with its own HVAC system and is individually metered. The reception area features crown molding, and the lounge has granite countertops. The property is fully landscaped, and exterior maintenance is maintained as part of a Property Owners Association.

Key Highlights

• 1,225 SF office space featuring 4 offices, a lounge, restroom, closets, and reception area.
• New construction completed in 2024 with commercial‑grade finishes.
• Enjoy the convenience of private entrances and a single‑story layout.

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

$16,045

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

4.80%

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%

$320,900 $320.9K

Cap Rate 7%

$229,214 $229.2K

Cap Rate 9%

$178,278 $178.3K

Market Conditions

NOI Build-Up for 1,225 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

$28.2K $23.04/SF

− Vacancy

−$6.8K −$5.58/SF

EGI

$21.4K $17.46/SF

− OpEx

−$5.3K −$4.37/SF

NOI

$16.0K $13.10/SF

Area

Harris County, TX

Vacancy

24.20%

Lease Rate

$23.04 /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%

$320,900

Cap Rate 7%

$229,214

Cap Rate 9%

$178,278

Alternative Uses

Best Use

Office B

$229.2K

$200.6K – $267.4K (±1% cap)

NOI $16,045 @ 7.0% cap · market cap 4.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$334.5K

$292.7K – $390.2K (±1% cap)

NOI $23,414 @ 7.0% cap · market cap 7.00%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Law Firm Real Estate Agency Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Grocery & Convenience Store Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,297

Businesses Nearby

Explore this area Business Placement

Demographics for 77346, TX

71,119

Population

26,650

Households

2.7

Avg Household Size

35

Median Age

42%

College-Educated

94%

High-School Grad

17.9 sq mi

ZIP Area

3,973

Density / Sq Mi

$116,658

Median Household Income

$61,767

Median Earnings

$1,770

Median Rent

$291,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office units - 1,225 SF office unit featuring private entrances.

Where is this office units located?

The property is located at 17904 W Lake Houston Pkwy Ste. 202 Atascocita TX Atascocita, TX.

What is the asking price?

The asking price for this property is $334,400.

What are key features of this property?

This property features: 1,225 SF office space featuring 4 offices, a lounge, restroom, closets, and reception area.; New construction completed in 2024 with commercial‑grade finishes.; Enjoy the convenience of private entrances and a single‑story layout.