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    Houston Retail Center For Sale Title is generated by Realmo AI

    2015 W 34th St, Houston, TX 77018

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    For Sale
    $2,399,000

    6,329 SF retail center in Houston's Oak Forest neighborhood.

    Type:Shopping Strip
    Property size:
    6,329 SF
    Lot size:
    0.41 Acres
    Price / SF:
    $379/SF
    Added:
    Mar 31, 2026
    Days on Market:
    69
    Last Refresh:
    Mar 31 at 4:31 am

    Property Features for 2015 W 34th St

    General Information

    Standard status
    Active
    Size
    6,329 SF
    Lot size
    0.41 Acres
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    1995

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    Listing Contact
    Gus Lagos

    Listing agent Gus Lagos License #TX: 419197

    Listing office Houston Office

    Listing date Mar 31, 2026

    Source Marcusmillichap

    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

    HighLights

    • 100% Occupied Retail Center: Provides immediate income stream.
    • Prime Location: Situated adjacent to a hard, signalized corner.
    • Strong Neighborhood Growth: Located in the Oak Forest/Garden Oaks area.
    • Value‑Add Opportunity: Potential to increase revenue by converting leases to triple‑net.
    • Established Community: Benefits from the established community character and redevelopment potential.
    • Size and Configuration: 6,329‑square‑foot retail center on approximately 0.41 acres accommodating eight tenants.

    Overview

    Located at 2015 West 34th Street in Houston, Texas, West 34th Center is a 6,329-square-foot retail center situated on approximately 0.41 acres. The property is located adjacent to the hard, signalized corner of West 34th Street and Oak Forest Drive. The retail center is 100 percent occupied, accommodating eight tenants. An investor could add value by converting leases to triple-net. The Oak Forest and Garden Oaks neighborhoods, located just north of Loop 610, have emerged as residential markets marked by price appreciation, growing demand, and active redevelopment. As of late 2025, median sale prices in the combined Oak Forest-Garden Oaks area reflect year-over-year gains. Oak Forest median prices showed growth (with recent figures indicating roughly 32.9 percent year-over-year appreciation to around $698,000) while the broader Oak Forest-Garden Oaks neighborhood saw its median around $525,000, up more than 10 percent compared to the previous year. The overall trend for Oak Forest / Garden Oaks has leaned toward price appreciation and sustained buyer interest, especially as homebuyers look for inner-loop locations with established community character and redevelopment potential.
    Location Intelligence

    Current Use by Public Records

    Misty Rockwell Artistry ... Cosmetic Store Pixster Photo Booth ... Photography Service Kat Creech Events Wedding Service GloGirl Spray Tanning Tanning Salon Photo Booth Houston ... Photography Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.4356443
    Latitude
    29.8168097

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    FAQs

    What type of property is this?
    Strip mall - 6,329 SF retail center in Houston's Oak Forest neighborhood.
    Where is this strip mall located?
    The property is located at 2015 W 34th St Houston, TX.
    What is the asking price?
    The asking price for this property is $2,399,000.
    What are key features of this property?
    This property features: 100% Occupied Retail Center: Provides immediate income stream.; Prime Location: Situated adjacent to a hard, signalized corner.; Strong Neighborhood Growth: Located in the Oak Forest/Garden Oaks area.
    (713) 452-4257
    We can help!
    Listing Contact
    Gus Lagos
    Real Estate License ID: TX: 419197
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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