Shenandoah Office Condo For
For Sale
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256 Ed English Dr, Shenandoah, TX 77385
Office condominium in a convenient Shenandoah location.
Property Size813 SF
Price / SF$264.45
Days on Market922
Property Features for 256 Ed English Dr
General Information
Standard status
Active
Size
813 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2016
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Sendero Group
(830) 237-0098
Listed By:
Devin Baker · License #656289
Source:
Crexi
Added: Feb 21, 2024
Changed: Aug 14
Last Checked: Aug 29 at 3:48AM
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 Sendero Group
Investment Insights
Based on property information with market context.
Portofino Plaza is an office condominium community located in Shenandoah, situated off I-45 north of The Woodlands. The property is located within a retail corridor near Sam's Club and the Portofino Shopping Center, which includes Old Navy, TJ Maxx, and PetSmart, as well as Pappasito's Cantina. The property, with a size of 813 square feet, features a layout that includes a reception area, a private bathroom, and a kitchenette, along with two offices. The property is suited for professionals specializing in insurance, wellness, and tax preparation, and would be suitable for a business needing professional office space with private access for practitioners and clients.
Key Highlights
- Convenient location off I‑45, north of The Woodlands.
- Proximity to retail corridor including Sam's Club, Portofino Shopping Center, and Pappasito's Cantina.
- Ideal for professionals needing private office space with private access.
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
$9,531
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
4.43%
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%
$190,620
$190.6K
Cap Rate 7%
$136,157
$136.2K
Cap Rate 9%
$105,900
$105.9K
Market Conditions
NOI Build-Up for 813 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
$16.3K $20.04/SF
− Vacancy
−$3.6K −$4.41/SF
EGI
$12.7K $15.63/SF
− OpEx
−$3.2K −$3.91/SF
NOI
$9.5K $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%
$190,620
Cap Rate 7%
$136,157
Cap Rate 9%
$105,900
Alternative Uses
Best Use
Office B
$136.2K
$119.1K – $158.9K
NOI $9,531 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$205.2K
$179.6K – $239.5K
NOI $14,367 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 77385, TX
27,801
Population
9,820
Households
2.8
Avg Household Size
35
Median Age
41%
College-Educated
92%
High-School Grad
21.7 sq mi
ZIP Area
1,281
Density / Sq Mi
$112,798
Median Household Income
$56,144
Median Earnings
$1,727
Median Rent
$294,900
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 units - Office condominium in a convenient Shenandoah location.
Where is this office units located?
The property is located at 256 Ed English Dr Shenandoah, TX.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Convenient location off I‑45, north of The Woodlands.; Proximity to retail corridor including Sam's Club, Portofino Shopping Center, and Pappasito's Cantina.; Ideal for professionals needing private office space with private access.
