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    Industrial Property with Warehouse Space Title is generated by Realmo AI

    655 Canary St, Vidor, TX 77662

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    Industrial property featuring warehouse and office spaces for lease.

    Type:Industrial
    Property size:
    48,468 SF
    Lot size:
    3.21 Acres
    Added:
    Aug 15, 2024
    Days on Market:
    659
    Last Refresh:
    May 12 at 9:12 pm

    Property Features for 655 Canary St

    General Information

    Standard status
    Active
    Size
    48,468 SF
    Lot size
    3.21 Acres
    Property subtype
    Industrial

    Spaces For Lease

    at 655 Canary St Contact us

    Warehouse B $3/Mo

    Size
    25,296 SF
    Type
    Industrial
    Contact us

    Warehouse A $3/Mo

    Size
    23,172 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    David Rose, CCIM, CPA

    Listing agent David Rose, CCIM, CPA License #736546

    Listing office Wheeler Commercial

    Listing date Aug 15, 2024

    Source Crexi

    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 Wheeler Commercial

    HighLights

    • Large 3.21‑acre property with a total of 48,468 SF of warehouse and office space.
    • Two warehouses (23,172 SF and 24,000 SF) with high eave heights (18’ and 20’) and multiple large roll‑up doors.
    • Low NNN expenses at only $0.14 PSF/year ($6,734.34 annually).
    • Includes detached (576 SF) and modular (720 SF) office spaces, in addition to 3,772 SF office build‑out within Warehouse A.
    • Secure perimeter with 6’ chain‑link fence (1,900 linear feet).
    • Ample paved areas with 22,500 SF of concrete and 21,000 SF of rock pavement.

    Overview

    This industrial property offers a total of 48,468 square feet of space on 3.21 acres. It includes Warehouse A, constructed in 1993, which provides 23,172 square feet of space with an 18-foot eave height, one 16-foot high by 22-foot wide roll-up door, and one 16-foot high by 16-foot wide roll-up door. The warehouse also features a 3,772 square foot office build-out in shell frame condition and 3-phase electric power at 440 volts. Warehouse B, built in 2003, offers 24,000 square feet with a 20-foot eave height, one 16-foot high by 20-foot wide roll-up door, and one 16-foot high by 18-foot wide roll-up door. Additionally, there is a detached office building constructed in 2018 with 576 square feet, and a modular office built in 2007 providing 720 square feet. The property is secured with a 6-foot chain-link perimeter fence spanning 1,900 linear feet. The grounds include 22,500 square feet of rock pavement and 21,000 square feet of concrete pavement. NNN expenses are very low at $0.14 per square foot per year, totaling $6,734.34 annually. The 2023 property taxes were $5,928.78.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Big Box & Wholesale Store Building Supply Gym & Fitness Center Hotel & Motel Hair Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vidor
    County
    Orange
    State
    Texas
    Longitude
    -94.0082
    Latitude
    30.1707

    FAQs

    What type of property is this?
    Warehouse - Industrial property featuring warehouse and office spaces for lease.
    Where is this warehouse located?
    The property is located at 655 Canary St Vidor, TX.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: Large 3.21‑acre property with a total of 48,468 SF of warehouse and office space.; Two warehouses (23,172 SF and 24,000 SF) with **high eave heights (18’ and 20’)** and **multiple large roll‑up doors.**; Low NNN expenses at only $0.14 PSF/year ($6,734.34 annually).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Rose, CCIM, CPA
    Real Estate License ID: 736546
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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