Investment Opportunity — Crosby, TX

FM 2100
Light Industrial Complex

14,700 SF  ·  2 Buildings  ·  Light Industrial / Automotive  ·  East Harris County

Asking Price
$990,000
$67.35/SF
Suggested Strike Price
$850K–$900K
Redlands guidance
Stabilized Exit Value
$1,787,534
At 7.25% cap
Potential Profit
$517,834
40.8% ROI on total cost
✓  Why You Want It
✓
Priced at 55% Below Replacement Cost At $67.35/SF, this is well below the $150+/SF cost to build comparable industrial space in Houston. Finished office suite, in-ground service pit, heavy 50-amp/240V electrical, multiple roll-up doors, and high-clearance bays represent hundreds of thousands in sunk cost.
✓
Income from Day One with Clear Lease-Up Path A tire shop tenant is in place on a month-to-month lease generating $3,200/month ($38,400/year). The remaining 11,200 SF is ready to be repositioned at market rents of $10.52/SF/year NNN. At full stabilization: $129,596 NOI, a 10.21% cap rate on total cost.
✓
High-Traffic FM 2100 Corridor with Captive Demand Building A fronts directly onto FM 2100 with 31,000+ VPD. Crosby sits at FM 2100 and Hwy 90, serving a vehicle-dependent workforce tied to the Baytown petrochemical complex 10 miles south. Strong, consistent demand for automotive and trade services.
✓
Owner-Operator or Investor, Both Cases Work An owner-operator in auto service, collision repair, or any trade business can eliminate rent and build equity in a fully equipped facility. An investor gets a value-add multi-tenant play with strong small-bay demand and limited quality supply in the submarket.
⚠  Watch Out For
⚠
Month-to-Month Tenant Has No Lease Term Guarantee The tire shop is on a month-to-month arrangement. The $3,200/month day-one income is not contractually secured beyond 30 days. Underwrite around the vacancy scenario and treat existing income as a bonus, not a guarantee.
⚠
Renovation Budget Is Real, Budget for It The property needs cosmetic work: fresh paint, office and bathroom upgrades, subfloor repairs, yard improvements, and general restoration. The $250,000 renovation budget is a realistic estimate, not a placeholder. Paint booth and frame machines are available separately and are not included in the $990,000 asking price.
⚠
Year Built 1993, Verify All HCAD Accounts HCAD records show one account covering 7,500 SF built in 1993. The second building (7,200 SF) may be on a separate account or may not be fully reflected in public records. Pull all HCAD accounts and confirm the full legal description and lot coverage before close.

Financial Analysis

The Numbers

Current Rent Roll
Tire Shop (Bldg B) Month-to-Month
3,500 SF · $10.97/SF gross · $3,200/mo
Building A Vacant — For Lease
7,200 SF · $10.52/SF NNN target
Bldg B (remaining) Vacant — For Lease
4,000 SF · $10.52/SF NNN target
Current Income $38,400/yr
Stabilized NOI $129,596/yr
Occupancy ~24% (3,500 SF)
Valuation & Offer Guidance
Asking Price $990,000
Price / SF $67.35/SF
Redlands Guidance
Suggested Strike Price $850,000 – $900,000
Project Basis
Renovation Budget $250,000
Closing Costs (3%) $29,700
Total All-In Cost $1,269,700
Exit Scenarios
Exit Cap Rate 7.25%
Projected Exit Value $1,787,534
Entry Cap (on cost) 10.21%
Net Profit at Exit $517,834
Projected ROI 40.8%

Market Context

Comparable Sales

Address Sale Price SF Price/SF Year Built Notes
Subject: 5219 S Main St, Crosby TX $990,000 ask 14,700 SF $67.35/SF 1993 Value-add, 24% occupied
202 W Stroker Rd, Crosby TX $1,400,000 7,500 SF $186.67/SF 2018 Newer construction, same submarket
421 Jones Rd, Highlands TX $1,300,000 12,566 SF $103.45/SF 1999 East Harris County, similar submarket
117–119 W Pearce St, Baytown TX $1,250,000 16,920 SF $73.88/SF 1928 Flex building, older vintage
16144 Market St, Channelview TX $525,000 8,000 SF $65.63/SF 1947 Closest price-per-SF comp, older vintage
207 W Archer Rd, Baytown TX $2,500,000 17,739 SF $140.94/SF N/A Stabilized asset, 6.74% cap rate

At $67.35/SF, the subject is priced at a significant discount to every comparable in the submarket. The nearest price-per-SF comp (Channelview, $65.63/SF) is a 1947-vintage building. Newer East Harris County industrial trades at $100+/SF.

Location

FM 2100 Corridor, East Harris County

5219 S Main St (FM 2100), Crosby TX 77532  ·  31,000+ VPD on FM 2100  ·  ~10 miles north of Baytown petrochemical corridor

Property Photography

The Buildings

Street-level exterior, Building A FM 2100 frontage
Office reception, arched entry, waiting area Finished office suite, mini-split AC Shop bay interior, high ceilings, roll-up doors Shop bay, service pit area

Property Details

Quick Facts

Address
5219 S Main St (FM 2100)
Crosby, TX 77532
Submarket
East Harris County
North Shore / FM 2100 Corridor
Total Size
14,700 SF
2 Buildings on 0.83 Acres
Occupancy
~24%
Tire Shop, Month-to-Month
Construction
Metal Buildings
Built 1993 (per HCAD), 12 ft Wall Height
Power
50-Amp / 240V
Multiple Roll-Up Doors
Special Features
In-Ground Service Pit
Paint Booth Available Separately
Traffic Count
31,000+ VPD
FM 2100 Frontage
Nearest Highway
FM 2100 / Hwy 90
~10 mi north of Baytown
Lease Structure
NNN (Target)
Current Tenant Gross, M2M
Deal Type
Value-Add
Renovation + Lease-Up Play
Asset Class
Light Industrial
Automotive Service / Flex

Ready to Move?

Talk to the Team

Samuel Smith
Samuel Smith
Managing Partner
979-571-5087
Call Samuel
TX Lic #697734
Brent Arents
Brent Arents
Commercial Agent
979-229-8820
Call Brent

This investment summary is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or investment. Prepared by Redlands Commercial Group. All figures are based on information believed to be reliable but not guaranteed. All numbers remain subject to rent roll, HCAD, survey, and physical due diligence verification. Paint booth and frame machines are available separately and are not included in the $990,000 asking price. Full financials and offering memorandum available after NDA execution. Redlands Commercial Group · Brokered by Walzel Properties · TX Lic #697734