Mixed-Use Property with Three
For Sale
$480,000
Pending
1137 Freeport Street, Houston, TX 77015
Three-suite property offers a restaurant suite, car radio shop space, and an upstairs studio apartment, plus concrete parking.
Property Size3,400 SF
Days on Market182
Property Features for 1137 Freeport Street
General Information
Standard status
Pending
Size
3,400 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$16,329
Building Details
Building Size
3,400 SF
Year Built
2000
Listing Agency:
Century 21 Garlington & Assoc.
Listed By:
Ana Henriquez · License #0629334
(832) 260-3136
Source:
Nancyalmodovar
Added: Apr 24
Changed: Oct 16
Last Checked: Oct 21 at 4:33AM
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 Garlington & Assoc.
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Investment Insights
Based on property information with market context.
This mixed-use commercial property includes three distinct suites designed for different uses. Suite A is a large, open restaurant space with updated interiors, a total of two bathrooms (his and hers), and a newly installed roof for the unit. Suite B is configured for a car radio shop with an open floor plan, one bathroom, and a storage room. Suite C is an upstairs studio apartment with one bedroom and one bathroom, currently being updated. In addition, a cabin on-site is used as storage.
The property is offered for sale with ample concrete parking space available for day-to-day operations.
Overall, the building presents flexible in-place configurations for income-producing tenancy across commercial and residential-style living space, alongside dedicated on-site storage.
The property is offered for sale with ample concrete parking space available for day-to-day operations.
Overall, the building presents flexible in-place configurations for income-producing tenancy across commercial and residential-style living space, alongside dedicated on-site storage.
Key Highlights
- Three distinct commercial suites plus an upstairs studio apartment in a property built in 2000
- Suite A (Restaurant): large open area with 2 bathrooms (his and hers) and a new roof installed
- Suite B (Car radio shop): open floor plan with 1 bathroom and a 1 storage room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,171
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,420
$383.4K
Cap Rate 7%
$273,871
$273.9K
Cap Rate 9%
$213,011
$213.0K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$30.6K $9.00/SF
− Vacancy
−$3.2K −$0.95/SF
EGI
$27.4K $8.06/SF
− OpEx
−$8.2K −$2.42/SF
NOI
$19.2K $5.64/SF
Area
Houston, TX
Vacancy
10.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,420
Cap Rate 7%
$273,871
Cap Rate 9%
$213,011
Alternative Uses
Best Use
Specialty Retail
$747.5K
$654.1K – $872.1K
NOI $52,326 @ 7.0% cap · market cap 10.90%
Second Best
Retail
$658.6K
$576.3K – $768.4K
NOI $46,103 @ 7.0% cap · market cap 9.60%
Theoretical Best
Office A
$874.3K
$765.0K – $1.02M
NOI $61,200 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 77015, TX
57,106
Population
19,961
Households
2.9
Avg Household Size
31
Median Age
11%
College-Educated
70%
High-School Grad
20.7 sq mi
ZIP Area
2,759
Density / Sq Mi
$57,324
Median Household Income
$34,477
Median Earnings
$1,169
Median Rent
$164,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Houston, TX
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Three-suite property offers a restaurant suite, car radio shop space, and an upstairs studio apartment, plus concrete parking.
Where is this conventional restaurant located?
The property is located at 1137 Freeport Street Houston, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Three distinct commercial suites plus an upstairs studio apartment in a property built in 2000; Suite A (Restaurant): large open area with 2 bathrooms (his and hers) and a new roof installed; Suite B (Car radio shop): open floor plan with 1 bathroom and a 1 storage room
