New Office Condo
For Sale
Contact for pricing
2715 N Mason Rd, Katy, TX 77449
Office condos for sale or lease in Katy, Texas.
Property Size1,200 SF
Price / SF$325
Days on Market863
Property Features for 2715 N Mason Rd
General Information
Standard status
Active
Size
1,200 SF
Class
B
Property subtype
Office
Building Details
Year Built
2024
Buildings
33
Listing Agency:
Grey Realty
Listed By:
Veronica Grey · License #TX 777980
Source:
Crexi
Added: May 1, 2024
Changed: Aug 13
Last Checked: Sep 10 at 6:02AM
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 Grey Realty
Investment Insights
Based on property information with market context.
A new office condo development is currently under construction, featuring 33 buildings, each approximately 1,200 square feet. These units are intended for owner-users or investors looking to lease them out. Pre-selling is underway, with the first buildings expected to be completed by the end of 2024. The location will also include two larger buildings, each approximately 12,000 square feet, available for lease.
Key Highlights
- New office condo development.
- Ideal for owner‑users or investors.
- Pre‑selling now.
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
$16,701
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
4.28%
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%
$334,020
$334.0K
Cap Rate 7%
$238,586
$238.6K
Cap Rate 9%
$185,567
$185.6K
Market Conditions
NOI Build-Up for 1,200 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
$30.7K $25.56/SF
− Vacancy
−$8.4K −$7.00/SF
EGI
$22.3K $18.56/SF
− OpEx
−$5.6K −$4.64/SF
NOI
$16.7K $13.92/SF
Area
Fort Bend County, TX
Vacancy
27.40%
Lease Rate
$25.56 /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%
$334,020
Cap Rate 7%
$238,586
Cap Rate 9%
$185,567
Alternative Uses
Best Use
Office B
$238.6K
$208.8K – $278.4K
NOI $16,701 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$14.95M
$13.08M – $17.44M
NOI $1,046,435 @ 7.0% cap · market cap 268.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 77449, TX
128,180
Population
40,773
Households
3.1
Avg Household Size
32
Median Age
28%
College-Educated
86%
High-School Grad
27.0 sq mi
ZIP Area
4,747
Density / Sq Mi
$85,934
Median Household Income
$42,015
Median Earnings
$1,755
Median Rent
$236,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office condos for sale or lease in Katy, Texas.
Where is this office units located?
The property is located at 2715 N Mason Rd Katy, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: New office condo development.; Ideal for owner‑users or investors.; Pre‑selling now.
