Fully Occupied Retail Center For
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11710 Broadway St, Pearland, TX 77584
Multi-tenant retail center in Pearland, Texas, 100% occupied.
Property Size47,385 SF
Lot Size5.40 Acres
Price / SF$312.34
Days on Market355
Property Features for 11710 Broadway St
General Information
Standard status
Active
Size
47,385 SF
Lot size
5.40 Acres
Property subtype
Retail
Zoning
GB
Building Details
Year Built
2017
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5225
Listed By:
Philip Levy · License #TX 522087
Source:
Crexi
Added: Sep 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 2:47PM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
The Center at Ridge Rock is a 47,385-square-foot, multi-tenant retail center located in Pearland, Texas. Constructed in 2017, the center is 100 percent occupied and comprised of two adjacent buildings. Tenants include Italiano's Restaurant, Jamburritos Cajun Grille, Tuscan Villa Nails & Spa, Alpha Dessert Juice Cafe, NLX Lash Studio, Wheelhouse Media Company, TC Cleaners, Lotus Seafood at Broadway, Elite Chiro Group, Kid 'N Play Indoor Playground, Broadway Learning Center dba Pearland Kids Club, and Athletic & Performing Arts Center. All leases are on triple-net terms. The buildings are situated on a 5.4-acre parcel with concrete parking. Italiano's suite features a patio area for outdoor dining. The property is positioned near the signalized intersection of Broadway Street and Kirby Drive with access to State Highway 288. Traffic counts in front of the property on Broadway Street are approximately 36,127 vehicles per day. Shadow Creek High School is located directly behind the property, with current enrollment of more than 2,575 students. The center is located in a dense retail trade area, neighbored by national and regional tenants including a top-ranking ALDI and close proximity to Pearland Town Center, a regional shopping mall developed with a "lifestyle center" concept. Nearby retailers include H-E-B, Five Below, TJ Maxx, Ross Dress For Less, Rack Room Shoes, Petco, Academy, Hobby Lobby, Ashley Furniture, Burlington, and Target. The surrounding area benefits from demographics, serving a population of more than 189,950 residents within a five-mile radius. The average household income is $165,714 within a one-mile radius.
Key Highlights
- 100% Occupied Multi‑Tenant Retail Center: Provides immediate and stable income stream
- Prime Location:** Situated at a signalized intersection with high traffic counts (36,127 VPD) and easy access to a major highway (State Highway 288)
- Strong Demographics: Located in an area with a large population (189,950 within 5 miles) and high average household income ($165,714 within 1 mile)
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
$530,165
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
3.58%
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%
$10,603,300
$10.6M
Cap Rate 7%
$7,573,786
$7.6M
Cap Rate 9%
$5,890,722
$5.9M
Market Conditions
NOI Build-Up for 47,385 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
$807.4K $17.04/SF
− Vacancy
−$50.1K −$1.06/SF
EGI
$757.4K $15.98/SF
− OpEx
−$227.2K −$4.80/SF
NOI
$530.2K $11.19/SF
Area
Pearland, TX
Vacancy
6.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$10,603,300
Cap Rate 7%
$7,573,786
Cap Rate 9%
$5,890,722
Alternative Uses
Best Use
Retail
$7.57M
$6.63M – $8.84M
NOI $530,165 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.26M
$8.10M – $10.80M
NOI $648,262 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
364k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Apparel 30%
Shops & Services 11%
Groceries 7%
Burlington
Apparel
45,782 visits/mo
0.4 miles
Gringo's Mexican Kitchen
Dining
31,674 visits/mo
0.2 miles
Dillard's
Apparel
28,675 visits/mo
0.2 miles
Aldi
Groceries
24,652 visits/mo
0.1 miles
At Home
Home Improvements & Furnishings
21,790 visits/mo
0.0 miles
Demographics for 77584, TX
93,062
Population
32,579
Households
2.9
Avg Household Size
36
Median Age
53%
College-Educated
94%
High-School Grad
32.0 sq mi
ZIP Area
2,908
Density / Sq Mi
$116,373
Median Household Income
$64,094
Median Earnings
$1,818
Median Rent
$339,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail center in Pearland, Texas, 100% occupied.
Where is this shopping center located?
The property is located at 11710 Broadway St Pearland, TX.
What is the asking price?
The asking price for this property is $14,800,000.
What are key features of this property?
This property features: 100% Occupied Multi‑Tenant Retail Center: Provides immediate and stable income stream; Prime Location:** Situated at a signalized intersection with high traffic counts (36,127 VPD) and easy access to a major highway (State Highway 288); Strong Demographics: Located in an area with a large population (189,950 within 5 miles) and high average household income ($165,714 within 1 mile)
