Houston Shopping Center For
For Sale
$21,410,000
70 Cypress Creek Pkwy, Houston, TX 77090
137,565 square foot shopping center on 12.19 acres.
Property Size137,565 SF
Lot Size12.19 Acres
Price / SF$155.64
Days on Market156
Property Features for 70 Cypress Creek Pkwy
General Information
Standard status
Active
Size
137,565 SF
Lot size
12.19 Acres
Property subtype
Shopping Strip
Amenities
Day One Positive Cashflow
Significant Value-Add Potential: 9 Percent Vacancy | Below Market In-Place Rents | Ample Land May Allow for Further Development or Leasing | Scheduled Rent Increases in Current Lease Term or Options
Irreplaceable Location: Northwest Corner of Interstate 45 and FM 1960 Road (over 275,000 Vehicles Per Day)
Strong Tenant Lineup: Tenants include Milan Institute, DaVita Dialysis, Hibbett Sports, Workforce Solutions, Pollo Campero, Dollar Tree, GNC, UPS Store, Cilantro Cocina, Rent-a-Tire, and more.
Building Details
Building Size
137,565 SF
Year Built
1986
Listing Agency:
Houston Office
Listed By:
Alex Wolansky, CCIM · License #License(s): TX: 702899
(713) 452-4292
Source:
Marcusmillichap
Added: Apr 3
Changed: Sep 3
Last Checked: Sep 5 at 3:53AM
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.
Cypress Station Square is a 137,565 square foot shopping center located at the northwest corner of Interstate 45 and FM 1960 Road in Houston, Texas. The retail center and retail pad sites occupy 12.19 acres, featuring approximately 850 feet of frontage on Cypress Creek Parkway (FM 1960 Road). Cypress Creek Parkway sees approximately 75,000 vehicles per day, while Interstate 45 experiences over 200,000 vehicles per day. The property has a strong lineup of diverse, internet-resistant tenants with staggered leases, including Milan Institute, DaVita Dialysis, Hibbett Sports, Workforce Solutions, Pollo Campero, Dollar Tree, GNC, UPS Store, Cilantro Cocina, and Rent-a-Tire.
Key Highlights
- High‑traffic location at the intersection of Interstate 45 and FM 1960 Road, with approximately 75,000 vehicles per day on Cypress Creek Parkway and over 200,000 vehicles per day on Interstate 45.
- Diverse tenant mix with staggered leases, including anchors like Milan Institute, DaVita Dialysis, Hibbett Sports, and Dollar Tree, providing internet‑resistant income streams.
- Immediate positive cash flow potential, even in the current interest rate environment, coupled with opportunities to increase revenue through leasing vacant units.
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
$1,865,329
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
8.71%
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%
$37,306,580
$37.3M
Cap Rate 7%
$26,647,557
$26.6M
Cap Rate 9%
$20,725,878
$20.7M
Market Conditions
NOI Build-Up for 137,565 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
$2.82M $20.52/SF
− Vacancy
−$158.1K −$1.15/SF
EGI
$2.66M $19.37/SF
− OpEx
−$799.4K −$5.81/SF
NOI
$1.87M $13.56/SF
Area
Houston, 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%
$37,306,580
Cap Rate 7%
$26,647,557
Cap Rate 9%
$20,725,878
Alternative Uses
Best Use
Retail
$26.65M
$23.32M – $31.09M
NOI $1,865,329 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$35.37M
$30.95M – $41.27M
NOI $2,476,170 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,268
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77090, TX
42,285
Population
19,076
Households
2.2
Avg Household Size
30
Median Age
25%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
4,917
Density / Sq Mi
$48,196
Median Household Income
$35,936
Median Earnings
$1,228
Median Rent
$235,500
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pallets Merchandise — 16745 North Fwy, Houston, TX 77090
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- Coinstar Kiosk | Bitcoin ATM — Kroger - Houston, 360 Farm to Market 1960 Rd W, Houston, TX 77090
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Frequently Asked Questions
What type of property is this?
Shopping center - 137,565 square foot shopping center on 12.19 acres.
Where is this shopping center located?
The property is located at 70 Cypress Creek Pkwy Houston, TX.
What is the asking price?
The asking price for this property is $21,410,000.
What are key features of this property?
This property features: High‑traffic location at the intersection of Interstate 45 and FM 1960 Road, with approximately 75,000 vehicles per day on Cypress Creek Parkway and over 200,000 vehicles per day on Interstate 45.; Diverse tenant mix with staggered leases, including anchors like Milan Institute, DaVita Dialysis, Hibbett Sports, and Dollar Tree, providing internet‑resistant income streams.; Immediate positive cash flow potential, even in the current interest rate environment, coupled with opportunities to increase revenue through leasing vacant units.
