Historic Mixed-Use
For Sale
Contact for pricing
102 N Gordon St, Alvin, TX 77511
The property accommodates office, restaurant, and retail uses within a building constructed in 1912.
Property Size14,036 SF
Price / SF$128.24
Days on Market544
Property Features for 102 N Gordon St
General Information
Standard status
Active
Size
14,036 SF
Class
B
Property subtype
Mixed Use, Office, Retail
Occupancy
50%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$133,391
Building Details
Year Built
1912
Year Renovated
2015
Buildings
1
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
Century 21 Tevas
(509) 627-8406
Listed By:
Jose Torres · License #9012066
Source:
Crexi
Added: Mar 5, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:07PM
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 Century 21 Tevas
Investment Insights
Based on property information with market context.
The Alvin Historic Gordon Building is a 14,036-square-foot mixed-use property with potential for office, restaurant, or retail occupancy. Built in 1912, the building offers an older architectural setting suited to businesses seeking a distinctive commercial environment.
The property is located at 102 N Gordon St in Alvin, Texas, and is identified as 100/102 Gordon Street in the offering remarks. Its mixed-use classification supports a range of commercial applications, including professional office space, dining, and retail presentation.
The property is located at 102 N Gordon St in Alvin, Texas, and is identified as 100/102 Gordon Street in the offering remarks. Its mixed-use classification supports a range of commercial applications, including professional office space, dining, and retail presentation.
Key Highlights
- 14,036‑square‑foot mixed‑use property
- Constructed in 1912
- Office, restaurant, and retail use potential
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
$115,797
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
6.43%
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%
$2,315,940
$2.3M
Cap Rate 7%
$1,654,243
$1.7M
Cap Rate 9%
$1,286,633
$1.3M
Market Conditions
NOI Build-Up for 14,036 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
$210.5K $15.00/SF
− Vacancy
−$25.3K −$1.80/SF
EGI
$185.3K $13.20/SF
− OpEx
−$69.5K −$4.95/SF
NOI
$115.8K $8.25/SF
Area
Brazoria County, TX
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,315,940
Cap Rate 7%
$1,654,243
Cap Rate 9%
$1,286,633
Alternative Uses
Best Use
Office B
$3.35M
$2.93M – $3.91M
NOI $234,327 @ 7.0% cap · market cap 13.02%
Second Best
Retail
$2.72M
$2.38M – $3.17M
NOI $190,121 @ 7.0% cap · market cap 10.56%
Theoretical Best
Multifamily LT 5
$174.85M
$153.00M – $204.00M
NOI $12,239,798 @ 7.0% cap · market cap 679.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 77511, TX
51,093
Population
20,499
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
83%
High-School Grad
150.1 sq mi
ZIP Area
340
Density / Sq Mi
$77,015
Median Household Income
$43,119
Median Earnings
$1,213
Median Rent
$218,100
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?
Mixed-use property - The property accommodates office, restaurant, and retail uses within a building constructed in 1912.
Where is this mixed-use property located?
The property is located at 102 N Gordon St Alvin, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 14,036‑square‑foot mixed‑use property; Constructed in 1912; Office, restaurant, and retail use potential
