3-Unit Retail Center with NNN
For Sale
$2,135,000
1575 Little York Rd, Houston, TX 77093
Three-unit retail center offered on an NNN-style basis with expense pass-throughs to tenants.
Property Size7,500 SF
Price / SF$284.67
Days on Market199
Property Features for 1575 Little York Rd
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Strip Center
Site & Location
Traffic Count
70,000 vehicles/day
Highway Access
Yes
Building Details
Building Size
7,500 SF
Year Built
1968
Tenancy
Multi
Listing Agency:
Trinity Real Estate Investment Services
Listed By:
Brad Motley · License #586199
(817) 768-6364
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 21
Last Checked: Aug 14 at 8:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trinity Real Estate Investment Services
Investment Insights
Based on property information with market context.
This 3-unit retail center totals 7,500 SF and is offered for sale as an NNN-style asset with all expenses passed through to tenants, supporting a more passive landlord profile.
The property is positioned near a signalized intersection of Hardy Toll Rd and Little York Rd, with combined traffic counts of 70,000+ vehicles passing daily. It also serves as an outparcel to Little York Shopping Mall, which is reported as 95%+ occupied and includes a diverse mix of retailers.
Tenant history includes Agua Pura, with over 23 years at the location, along with Metro PCS. Aaron’s is newly merged with Katapult ($KPLT), associated with a $4B corporate platform as of December 2025.
The property is positioned near a signalized intersection of Hardy Toll Rd and Little York Rd, with combined traffic counts of 70,000+ vehicles passing daily. It also serves as an outparcel to Little York Shopping Mall, which is reported as 95%+ occupied and includes a diverse mix of retailers.
Tenant history includes Agua Pura, with over 23 years at the location, along with Metro PCS. Aaron’s is newly merged with Katapult ($KPLT), associated with a $4B corporate platform as of December 2025.
Key Highlights
- 3‑unit retail center built in 1968 with 7,500 SF of space
- NNN‑style lease structure with all expenses passed through to tenants
- Tenants have recently extended, including Agua Pura with 23+ years at the location
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
$101,697
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
4.76%
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%
$2,033,940
$2.0M
Cap Rate 7%
$1,452,814
$1.5M
Cap Rate 9%
$1,129,967
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$153.9K $20.52/SF
− Vacancy
−$8.6K −$1.15/SF
EGI
$145.3K $19.37/SF
− OpEx
−$43.6K −$5.81/SF
NOI
$101.7K $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%
$2,033,940
Cap Rate 7%
$1,452,814
Cap Rate 9%
$1,129,967
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.69M
NOI $101,697 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,000 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
70,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
54k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Shops & Services 41%
Apparel 10%
Home Improvements & Furnishings 2%
Sellers Bros
Groceries
24,822 visits/mo
0.1 miles
Dollar Tree
Shops & Services
12,446 visits/mo
0.1 miles
Valero Energy
Shops & Services
9,647 visits/mo
0.4 miles
Melrose
Apparel
5,335 visits/mo
0.0 miles
Aaron's
Home Improvements & Furnishings
850 visits/mo
0.1 miles
Demographics for 77093, TX
47,736
Population
14,671
Households
3.3
Avg Household Size
31
Median Age
5%
College-Educated
51%
High-School Grad
12.0 sq mi
ZIP Area
3,978
Density / Sq Mi
$41,958
Median Household Income
$28,493
Median Earnings
$1,102
Median Rent
$122,400
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 - Three-unit retail center offered on an NNN-style basis with expense pass-throughs to tenants.
Where is this strip mall located?
The property is located at 1575 Little York Rd Houston, TX.
What is the asking price?
The asking price for this property is $2,135,000.
What are key features of this property?
This property features: 3‑unit retail center built in 1968 with 7,500 SF of space; NNN‑style lease structure with all expenses passed through to tenants; Tenants have recently extended, including Agua Pura with 23+ years at the location
