Retail Center in Growing
For Sale
$2,380,000
340 Rayford Rd, Spring, TX 77386
Fully occupied retail center in a high-growth suburban area.
Property Size8,711 SF
Price / SF$273.22
Days on Market144
Property Features for 340 Rayford Rd
General Information
Standard status
Active
Size
8,711 SF
Property subtype
Shopping Strip
Building Details
Year Built
2005
Listing Agency:
Houston Office
Listed By:
Gus Lagos · License #License(s): TX: 419197
(713) 452-4257
Source:
Marcusmillichap
Added: Apr 15
Changed: Jul 10
Last Checked: Sep 4 at 2:35AM
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.
Sam’s Plaza is an 8,711-square-foot retail center located at 340 Rayford Road in Spring, Texas. The property is 100 percent occupied, accommodating two triple-net tenants. The property is positioned within one of North Houston’s fastest-growing suburban corridors, approximately 1,000 feet from Interstate 45. The asset benefits from regional connectivity and commuter traffic, with approximately 50,000 vehicles per day along Rayford Road. The surrounding trade area is anchored by national retailers, including H-E-B, Walmart, Kroger, and Walgreens. The average household income exceeds $100,000 within a one-mile radius. The asset is embedded within the Imperial Oaks master-planned community, an area experiencing continued residential expansion and population growth, driving retail demand and supporting rent growth across the submarket. The property offers investors a well located, income-producing retail asset with embedded growth potential and exposure to one of the Houston MSA’s most dynamic suburban retail corridors.
Key Highlights
- 100% Occupancy: Provides immediate income stream.
- High‑Traffic Location: Situated near Interstate 45 and Rayford Road with approximately 50,000 vehicles per day on Rayford Road, ensuring excellent visibility and accessibility.
- Strong Demographics: Average household income exceeds $100,000 within a one‑mile radius.
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
$118,118
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
4.96%
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%
$2,362,360
$2.4M
Cap Rate 7%
$1,687,400
$1.7M
Cap Rate 9%
$1,312,422
$1.3M
Market Conditions
NOI Build-Up for 8,711 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
$178.7K $20.52/SF
− Vacancy
−$10.0K −$1.15/SF
EGI
$168.7K $19.37/SF
− OpEx
−$50.6K −$5.81/SF
NOI
$118.1K $13.56/SF
Area
Montgomery County, TX
Vacancy
5.60%
Lease Rate
$20.52 /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%
$2,362,360
Cap Rate 7%
$1,687,400
Cap Rate 9%
$1,312,422
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,118 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.20M
$1.92M – $2.57M
NOI $153,938 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,516
Businesses Nearby
339k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Groceries 29%
Shops & Services 20%
Apparel 3%
H-E-B
Groceries
70,236 visits/mo
0.4 miles
McDonald's
Dining
38,804 visits/mo
0.2 miles
Raising Cane's Chicken Fingers
Dining
35,256 visits/mo
0.3 miles
Spec's
Groceries
27,161 visits/mo
0.2 miles
Starbucks
Dining
14,942 visits/mo
0.3 miles
Demographics for 77386, TX
66,058
Population
22,778
Households
2.9
Avg Household Size
34
Median Age
49%
College-Educated
95%
High-School Grad
40.8 sq mi
ZIP Area
1,619
Density / Sq Mi
$130,094
Median Household Income
$66,481
Median Earnings
$1,878
Median Rent
$346,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied retail center in a high-growth suburban area.
Where is this shopping center located?
The property is located at 340 Rayford Rd Spring, TX.
What is the asking price?
The asking price for this property is $2,380,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate income stream.; High‑Traffic Location: Situated near Interstate 45 and Rayford Road with approximately 50,000 vehicles per day on Rayford Road, ensuring excellent visibility and accessibility.; Strong Demographics: Average household income exceeds $100,000 within a one‑mile radius.
