Tomball Renovated Campus For
For Sale
Contact for pricing
1222 W Main Street, Tomball, TX 77375
Renovated campus in Tomball on over 2 acres.
Property Size14,912 SF
Lot Size2.00 Acres
Price / SF$238.06
Days on Market911
Property Features for 1222 W Main Street
General Information
Standard status
Active
Size
14,912 SF
Lot size
2.00 Acres
Property subtype
Retail, Office, Special Purpose
Zoning
C
Building Details
Year Built
1971
Listing Agency:
The Agency Austin, LLC
(310) 977-7269
Listed By:
Maelia Davis · License #TX
Source:
Crexi
Added: Feb 10, 2024
Changed: Aug 8
Last Checked: May 12 at 10:41PM
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 The Agency Austin, LLC
Investment Insights
Based on property information with market context.
This fully renovated campus, formerly Real Life Ministries, is available for sale. Situated on just over 2 acres in Tomball, this property occupies a highly sought-after hard corner. The building, one of two connected structures, was completely remodeled down to the studs in 2020. It features 14,912 square feet of space, including offices, classrooms, and a large multi-purpose area. The property is located within the Tomball City Limits and includes land currently leased month to month by The Nook restaurant. Owner financing is available. Survey and floor plans are available.
Key Highlights
- Owner financing available
- Fully renovated in 2020 (down to the studs)
- Highly sought‑after hard corner location in Tomball on over 2 acres**
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
$195,321
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
5.50%
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%
$3,906,420
$3.9M
Cap Rate 7%
$2,790,300
$2.8M
Cap Rate 9%
$2,170,233
$2.2M
Market Conditions
NOI Build-Up for 14,912 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
$343.6K $23.04/SF
− Vacancy
−$83.1K −$5.58/SF
EGI
$260.4K $17.46/SF
− OpEx
−$65.1K −$4.37/SF
NOI
$195.3K $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%
$3,906,420
Cap Rate 7%
$2,790,300
Cap Rate 9%
$2,170,233
Alternative Uses
Best Use
Office B
$2.79M
$2.44M – $3.26M
NOI $195,321 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.07M
$3.56M – $4.75M
NOI $285,022 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Explore this area
Business Placement
Demographics for 77375, TX
65,365
Population
25,452
Households
2.6
Avg Household Size
34
Median Age
41%
College-Educated
92%
High-School Grad
35.2 sq mi
ZIP Area
1,857
Density / Sq Mi
$95,813
Median Household Income
$57,735
Median Earnings
$1,495
Median Rent
$287,100
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?
Church & religious facility - Renovated campus in Tomball on over 2 acres.
Where is this church & religious facility located?
The property is located at 1222 W Main Street Tomball, TX.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Owner financing available; Fully renovated in 2020 (down to the studs); Highly sought‑after hard corner location in Tomball on over 2 acres**
