Multi-Frontage Retail Strip
For Sale
Contact for pricing
1225-1229 Waugh Dr, Houston, TX 77019
Strip center for sale with frontage on three streets and an approximately 15,011 SF building sold as-is.
Property Size15,011 SF
Lot Size0.68 Acres
Price / SF$466.32
Days on Market127
Property Features for 1225-1229 Waugh Dr
General Information
Standard status
Active
Size
15,011 SF
Lot size
0.68 Acres
Property subtype
RETAIL
Listing Agency:
Joe Realty, LLC
(832) 567-5171
Listed By:
David Joe · License #0330268
(832) 567-5171
Source:
Moodyscre
Added: Mar 27
Changed: Jul 26
Last Checked: Jul 30 at 1:14PM
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 Joe Realty, LLC
Investment Insights
Based on property information with market context.
This retail strip center is offered for sale as-is and includes multiple addresses (1225–1229 Waugh Dr). The property includes approximately 15,011 SF of building area as reflected by HCAD. The lot size is approximately 29,541 SF per survey.
The property has frontage on three streets: Waugh, W Clay, and Peveto. It is described as being close to Montrose, River Oaks, Downtown, the Medical Center, the Galleria, and Memorial Park, with convenient access to Allen Parkway, Memorial Drive, I-45, I-10, and the 610 Loop.
All information is based on the provided public remarks and seller-provided details.
The property has frontage on three streets: Waugh, W Clay, and Peveto. It is described as being close to Montrose, River Oaks, Downtown, the Medical Center, the Galleria, and Memorial Park, with convenient access to Allen Parkway, Memorial Drive, I-45, I-10, and the 610 Loop.
All information is based on the provided public remarks and seller-provided details.
Key Highlights
- Frontage on 3 streets: Waugh, W Clay, and Peveto
- Approximately 29,541 SF lot size per survey
- Approximately 15,011 SF building size per HCAD
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 | $308.0k | $20.52 |
| − Vacancy | −$17.2k | −$1.15 |
| EGI | $290.8k | $19.37 |
| − OpEx | −$87.2k | −$5.81 |
| NOI | $203.5k | $13.56 |
15,011 SF · lease $20.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.91M
$2.54M – $3.39M
NOI $203,543 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.86M
$3.38M – $4.50M
NOI $270,198 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 77019, TX
24,136
Population
14,387
Households
1.7
Avg Household Size
37
Median Age
76%
College-Educated
98%
High-School Grad
3.7 sq mi
ZIP Area
6,523
Density / Sq Mi
$108,353
Median Household Income
$75,871
Median Earnings
$1,886
Median Rent
$724,900
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip center for sale with frontage on three streets and an approximately 15,011 SF building sold as-is.
Where is this strip mall located?
The property is located at 1225-1229 Waugh Dr Houston, TX.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Frontage on 3 streets: Waugh, W Clay, and Peveto; Approximately 29,541 SF lot size per survey; Approximately 15,011 SF building size per HCAD
