Newly Built NNN Retail
For Sale
$7,997,293
4145 Gessner Rd, Houston, TX 77043
Newly constructed, stabilized retail center with multiple tenants and NNN leases tied to roof and structure.
Property Size18,228 SF
Price / SF$438.74
Days on Market111
Property Features for 4145 Gessner Rd
General Information
Standard status
Active
Size
18,228 SF
Property subtype
Shopping Strip
Amenities
?Trophy Asset in Houston | Newer construction (2023) 6-suite retail center with end cap drive-thru, totaling ±18,228 SF.
?100% Leased with Strong Tenant Mix | The UPS Store, Marco's Pizza, Juarez Mexican Restaurant, Tom n Tom's Coffee, Logos Dental, and Behavioral Innovations. Incoming Andy's Frozen Custard (NAP)
?Prime Location with High Traffic Counts | Positioned along Gessner Road (+15,334 VPD), surrounded by dense residential neighborhoods, schools, and major employers.
?Houston Market Strength | Houston is the #1 leasing submarket in the nation, supported by steady population growth (278K within 5 miles), strong average household income ($138K), and robust consumer spending.
Building Details
Building Size
18,228 SF
Year Built
2023
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Jason Fefer · License #License(s): CA: 02100489
(310) 909-2394
Source:
Marcusmillichap
Added: May 18
Changed: Aug 25
Last Checked: Sep 5 at 4:04AM
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 - Los Angeles
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present a newly constructed, stabilized retail center built in 2023. The property totals 18,228 square feet and is situated on 1.67 acres, offering a multi-tenant retail mix that includes The UPS Store, Marco’s Pizza, Mendoza Mexican Grill, Tom n Tom’s Coffee, Logos Dental, and Monarch Behavioral Therapy. The center is described as generating annual net operating income of $531,820 with a weighted average lease term (WALT) of approximately +7 years. Leases are structured as NNN, with landlord responsibilities limited to roof and structure.
Located along Gessner Road in Houston, Texas, the center is positioned for visibility along a high-traffic corridor and is surrounded by dense residential neighborhoods, schools, and major employers, supporting consistent daily exposure.
Located along Gessner Road in Houston, Texas, the center is positioned for visibility along a high-traffic corridor and is surrounded by dense residential neighborhoods, schools, and major employers, supporting consistent daily exposure.
Key Highlights
- Newly built 18,228 SF retail center on 1.67 acres at 4145 Gessner Road, Houston, built in 2023
- Stabilized tenant lineup includes The UPS Store, Marco's Pizza, Mendoza Mexican Grill, Tom n Tom's Coffee, Logos Dental, and Monarch Behavioral Therapy
- Weighted average lease term (WALT) of approximately 7 years
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
$247,165
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
3.09%
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%
$4,943,300
$4.9M
Cap Rate 7%
$3,530,929
$3.5M
Cap Rate 9%
$2,746,278
$2.7M
Market Conditions
NOI Build-Up for 18,228 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
$374.0K $20.52/SF
− Vacancy
−$20.9K −$1.15/SF
EGI
$353.1K $19.37/SF
− OpEx
−$105.9K −$5.81/SF
NOI
$247.2K $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%
$4,943,300
Cap Rate 7%
$3,530,929
Cap Rate 9%
$2,746,278
Alternative Uses
Best Use
Retail
$3.53M
$3.09M – $4.12M
NOI $247,165 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.69M
$4.10M – $5.47M
NOI $328,104 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77043, TX
26,281
Population
11,197
Households
2.3
Avg Household Size
36
Median Age
43%
College-Educated
84%
High-School Grad
14.2 sq mi
ZIP Area
1,851
Density / Sq Mi
$75,017
Median Household Income
$48,228
Median Earnings
$1,417
Median Rent
$382,800
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Similar Off Market Nearby
- Shops at Pinecrest — 4145 Gessner Rd, Houston, TX 77043
- Gessner Plaza — Houston, TX 77041
Frequently Asked Questions
What type of property is this?
Shopping center - Newly constructed, stabilized retail center with multiple tenants and NNN leases tied to roof and structure.
Where is this shopping center located?
The property is located at 4145 Gessner Rd Houston, TX.
What is the asking price?
The asking price for this property is $7,997,293.
What are key features of this property?
This property features: Newly built 18,228 SF retail center on 1.67 acres at 4145 Gessner Road, Houston, built in 2023; Stabilized tenant lineup includes The UPS Store, Marco's Pizza, Mendoza Mexican Grill, Tom n Tom's Coffee, Logos Dental, and Monarch Behavioral Therapy; Weighted average lease term (WALT) of approximately 7 years
