Office Condo with Recent
For Sale
Contact for pricing
Pending
12830 Willow Centre Dr, Houston, TX 77066
Updated office condo with reception, offices, and kitchen/coffee bar.
Property Size675 SF
Days on Market860
Property Features for 12830 Willow Centre Dr
General Information
Standard status
Pending
Size
675 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
2005
Year Renovated
2005
Stories
1
Listing Agency:
eXp Commercial
Listed By:
Huy Nguyen · License #621921
Source:
Crexi
Added: May 1, 2024
Changed: Aug 25
Last Checked: Sep 7 at 7:01AM
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 eXp Commercial
Investment Insights
Based on property information with market context.
Located in a gated community, this 675 square foot office condo features a reception area, two private rooms, and a half-bath with a kitchen/coffee bar. The unit is suitable for an owner occupant or investment purposes. The Homeowner's Association (HOA) covers trash, grass, exterior building maintenance, and water. The condo unit has been recently updated, allowing a new owner to move in with minimal modifications. The property is located in Willow Park Condo, Unit E.
Key Highlights
- Move‑in ready: Recently updated with minimal modification needed.
- Investment potential: Previous lease history of $1400/month.
- Functional layout: Includes reception area, 2 private rooms, 1/2 bath, and kitchen/coffee bar.
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
$7,873
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
5.66%
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%
$157,460
$157.5K
Cap Rate 7%
$112,471
$112.5K
Cap Rate 9%
$87,478
$87.5K
Market Conditions
NOI Build-Up for 675 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
$14.6K $21.60/SF
− Vacancy
−$4.1K −$6.05/SF
EGI
$10.5K $15.55/SF
− OpEx
−$2.6K −$3.89/SF
NOI
$7.9K $11.66/SF
Area
Houston, TX
Vacancy
28.00%
Lease Rate
$21.60 /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%
$157,460
Cap Rate 7%
$112,471
Cap Rate 9%
$87,478
Alternative Uses
Best Use
Office B
$112.5K
$98.4K – $131.2K
NOI $7,873 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$173.6K
$151.9K – $202.5K
NOI $12,150 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 77066, TX
34,443
Population
12,156
Households
2.8
Avg Household Size
35
Median Age
20%
College-Educated
77%
High-School Grad
8.6 sq mi
ZIP Area
4,005
Density / Sq Mi
$83,545
Median Household Income
$36,865
Median Earnings
$1,396
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Updated office condo with reception, offices, and kitchen/coffee bar.
Where is this office units located?
The property is located at 12830 Willow Centre Dr Houston, TX.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Move‑in ready: Recently updated with minimal modification needed.; Investment potential: Previous lease history of $1400/month.; Functional layout: Includes reception area, 2 private rooms, 1/2 bath, and kitchen/coffee bar.
