Investment Opportunity — Houston, TX

Elmview
Business Park

±17,600 SF  ·  4 Buildings  ·  Small-Bay Industrial / Flex  ·  Spring Branch

Asking Price
$2,550,000
$144/SF
Suggested Strike Price
$2.10M
Opening offer range
Stabilized Exit Value
$2.71M–$2.89M
At 7.75–8.25% cap
Potential Profit
$610K–$790K
On stabilized exit
✓  Why You Want It
✓
Supply-Constrained Submarket Spring Branch small-bay flex is chronically undersupplied. 4,000–5,600 SF units have virtually no competing product within 3 miles.
✓
Stable Income Anchor Instruct Air is NNN through 5/31/2027 on 5,600 SF — the largest unit. You have a base while you lease up the rest.
✓
Real Upside on Lease-Up One vacant building leased at market ($12/SF NNN) pushes NOI from $175K to $223K — a $48K/yr swing that reprices the asset by $600K+.
⚠  Watch Out For
⚠
Priced Like It's Already Stabilized 6.89% going-in cap with 25% vacancy and a month-to-month tenant is aggressive. The ask does not reflect the lease-up risk.
⚠
Building C Could Walk Belk Baseball is month-to-month on 4,000 SF. They can leave with 30 days notice. Require a new lease or rent guarantee at close.
⚠
Verify the NOI $175,668 needs T-12 confirmation. Gross vs. NNN structure varies by building — don't rely on any income figure without lease abstracts.

Financial Analysis

The Numbers

Current Rent Roll
Building A Sub C America — Leased
4,000 SF · $5,167/mo
Building B Vacant — For Lease
4,000 SF · $12/SF NNN mkt
Building C Belk Baseball — M2M
4,000 SF · $4,500/mo
Building D Instruct Air — NNN thru 5/27
5,600 SF · $4,972/mo
Current NOI $175,668/yr
Stabilized NOI ~$223,668/yr
Valuation & Offer Guidance
Asking Price $2,550,000
Price / SF $144/SF
Going-In Cap 6.89%
Redlands Guidance
Suggested Strike Price $2.05M – $2.10M
Max Acceptable $2.20M – $2.30M
Exit Scenarios
Exit @ 7.75% cap $2.89M
Exit @ 8.25% cap $2.71M
Spread on $2.10M buy $610K – $790K

Property Photography

The Buildings

Building A Exterior
Building B Exterior Open Warehouse Interior Interior with HVAC Office Space

Property Details

Quick Facts

Address
1611 Elmview Dr
Houston, TX 77080
Submarket
Spring Branch
NW Houston
Total Size
±17,600 SF
4 Metal Buildings
Occupancy
75%
3 of 4 Buildings Leased
Construction
Metal
Grade-Level Loading
Eave Height
±14 ft
Flex / Light Industrial
Lease Structure
Mixed
Gross & NNN Tenants
Nearest Highway
Beltway 8 / I-10
High-traffic infill corridor
Deal Type
Value-Add
Lease-up play

Ready to Move?

Talk to the Team

Samuel Smith
Samuel Smith
Managing Partner
979-571-5087
Call Samuel
Brent Arents
Brent Arents
Partner
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 T-12, rent roll, HCAD, survey, and physical due diligence verification. Redlands Commercial Group · Brokered by Walzel Properties · TX Lic #697734