Retail Plaza on Major
11511 Veterans Memorial Dr Houston, TX 77067
For Sale
$3,289,000
Emerald Plaza is an 18,348-square-foot retail center on 2.07 acres with street exposure along Veterans Memorial Drive.
Property Size18,348 SF
Lot Size2.07 Acres
Price / SF$179.26
Days on Market32
Property Features for 11511 Veterans Memorial Dr
General Information
- Standard status
- Active
- Size
- 18,348 SF
- Lot size
- 2.07 Acres
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2005
Listing Agency:
Houston Office
(713) 452-4359
Listed By:
Scott Jones · License #License(s): TX: 81153
(713) 452-4359
Source:
Marcusmillichap
Added: Jun 22
Changed: Jul 23
Last Checked: Jul 23 at 10:26AM
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 Houston Office
Investment Insights
Based on property information with market context.
Emerald Plaza is a retail center offering 18,348 square feet of commercial space on 2.07 acres. The property is positioned to serve daily shopping traffic with prominent exposure along Veterans Memorial Drive.
Located in Houston, Texas, Emerald Plaza benefits from its placement within a dense retail corridor. The center has visibility to approximately 32,458 vehicles per day and is surrounded by numerous national retailers and hotels.
The property is offered for sale by Marcus & Millichap on an exclusive basis.
Located in Houston, Texas, Emerald Plaza benefits from its placement within a dense retail corridor. The center has visibility to approximately 32,458 vehicles per day and is surrounded by numerous national retailers and hotels.
The property is offered for sale by Marcus & Millichap on an exclusive basis.
Key Highlights
- 18,348‑SF retail center built in 2005
- Located on 2.07 acres with street exposure along Veterans Memorial Drive
- Property offers exposure to approximately 32,458 vehicles per day (per provided data)
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $376.5k | $20.52 |
| − Vacancy | −$21.1k | −$1.15 |
| EGI | $355.4k | $19.37 |
| − OpEx | −$106.6k | −$5.81 |
| NOI | $248.8k | $13.56 |
18,348 SF · lease $20.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.55M
$3.11M – $4.15M
NOI $248,792 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.72M
$4.13M – $5.50M
NOI $330,264 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rx Care Pharmacy
Pharmacy
Grocery Services Inc
Grocery & Convenience Store
Dr. Imran Baig, ...
Physician
Emerald Pediatric & Family ...
Physician
Juan P. Garcia, ...
Pediatrician
FAQs
What type of property is this?
Strip mall - Emerald Plaza is an 18,348-square-foot retail center on 2.07 acres with street exposure along Veterans Memorial Drive.
Where is this strip mall located?
The property is located at 11511 Veterans Memorial Dr Houston, TX.
What is the asking price?
The asking price for this property is $3,289,000.
What are key features of this property?
This property features: 18,348‑SF retail center built in 2005; Located on 2.07 acres with street exposure along Veterans Memorial Drive; Property offers exposure to approximately 32,458 vehicles per day (per provided data)
