Grogan's Gate Professional
For Sale
Contact for pricing
350 Nursery Rd, Spring, TX 77380
Mixed-use professional center in Spring, near The Woodlands.
Property Size5,188 SF
Price / SF$370.91
Days on Market2554
Property Features for 350 Nursery Rd
General Information
Standard status
Active
Size
5,188 SF
Class
B
Property subtype
Business for Sale, Mixed Use, Office, Special Purpose
Occupancy
83%
Lease Type
NNN
Building Details
Year Built
2021
Buildings
7
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
Houston International Realty
(281) 363-2845
Listed By:
Richard Foulkes · License #0529290
Source:
Crexi
Added: Aug 26, 2019
Changed: Aug 12
Last Checked: Aug 22 at 6:25AM
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 Houston International Realty
Investment Insights
Based on property information with market context.
The Grogan’s Gate Professional Center is located in Spring, adjacent to The Woodlands. This mixed-use property offers opportunities for living, working, and recreation. The Woodlands has over 100,000 residents and 40,000 jobs. The property is situated near major roads and corporate centers, including Exxon and Anadarko. It is suitable for small companies and entrepreneurs seeking professional spaces. The property consists of six single-story buildings totaling 24,000 square feet, along with a 12,500-square-foot two-story office building. The Grogan’s Gate Professional Center provides modern amenities and ample parking. This property, developed by Crown Point Developments, is an investment opportunity for establishing a business presence in the area. The property size is 5188 square feet.
Key Highlights
- Prime location adjacent to The Woodlands, offering access to a large residential and employment base.
- Conveniently situated near major roads and corporate centers.
- Modern professional center, recently built in 2021 with 36,500 SqFt of office space.
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
$60,821
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
3.16%
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%
$1,216,420
$1.2M
Cap Rate 7%
$868,871
$868.9K
Cap Rate 9%
$675,789
$675.8K
Market Conditions
NOI Build-Up for 5,188 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
$104.0K $20.04/SF
− Vacancy
−$22.9K −$4.41/SF
EGI
$81.1K $15.63/SF
− OpEx
−$20.3K −$3.91/SF
NOI
$60.8K $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%
$1,216,420
Cap Rate 7%
$868,871
Cap Rate 9%
$675,789
Alternative Uses
Best Use
Office B
$868.9K
$760.3K – $1.01M
NOI $60,821 @ 7.0% cap · market cap 3.16%
Second Best
Mixed Use
$767.1K
$671.2K – $894.9K
NOI $53,696 @ 7.0% cap · market cap 2.79%
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,681 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 77380, TX
27,651
Population
16,232
Households
1.7
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
12.4 sq mi
ZIP Area
2,230
Density / Sq Mi
$84,468
Median Household Income
$51,286
Median Earnings
$1,607
Median Rent
$343,900
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?
Mixed-use property - Mixed-use professional center in Spring, near The Woodlands.
Where is this mixed-use property located?
The property is located at 350 Nursery Rd Spring, TX.
What is the asking price?
The asking price for this property is $1,924,300.
What are key features of this property?
This property features: Prime location adjacent to The Woodlands, offering access to a large residential and employment base.; Conveniently situated near major roads and corporate centers.; Modern professional center, recently built in 2021 with 36,500 SqFt of office space.
