Fully Leased Mixed-Use
For Sale
Contact for pricing
12989 Bellaire Blvd, Houston, TX 77072
Turnkey investment with commercial and residential income in place.
Property Size5,178 SF
Price / SF$181.34
Days on Market190
Property Features for 12989 Bellaire Blvd
General Information
Standard status
Active
Size
5,178 SF
Property subtype
Mixed Use
Listing Agency:
Synergy Commercial Group
(832) 594-2712
Listed By:
Pearl Ngo · License #643564
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 12 at 2:36PM
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 Synergy Commercial Group
Investment Insights
Based on property information with market context.
This fully leased commercial, retail, and mixed-use building offers cash flow and investment potential. The first floor features an open floor plan and is occupied by a commercial tenant, generating rental income. The second and third floors, accessible via a private rear entrance, each contain 4 bedrooms, 2 bathrooms, a full kitchen, and a living area, totaling 8 bedrooms and 4 bathrooms across both floors. These floors are currently utilized as short-term rentals with occupancy and income. The property is a turnkey investment with income from both commercial and residential tenants.
Key Highlights
- Fully leased commercial/retail/mixed‑use building.
- Turnkey investment with immediate income from commercial and residential tenants.
- First floor occupied by a reliable commercial tenant generating steady rental income.**
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
$70,212
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
7.48%
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%
$1,404,240
$1.4M
Cap Rate 7%
$1,003,029
$1.0M
Cap Rate 9%
$780,133
$780.1K
Market Conditions
NOI Build-Up for 5,178 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
$106.3K $20.52/SF
− Vacancy
−$6.0K −$1.15/SF
EGI
$100.3K $19.37/SF
− OpEx
−$30.1K −$5.81/SF
NOI
$70.2K $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%
$1,404,240
Cap Rate 7%
$1,003,029
Cap Rate 9%
$780,133
Alternative Uses
Best Use
Retail
$1.00M
$877.7K – $1.17M
NOI $70,212 @ 7.0% cap · market cap 7.48%
Second Best
Mixed Use
$976.4K
$854.4K – $1.14M
NOI $68,350 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,204 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 77072, TX
56,271
Population
20,371
Households
2.8
Avg Household Size
35
Median Age
18%
College-Educated
70%
High-School Grad
7.4 sq mi
ZIP Area
7,604
Density / Sq Mi
$49,893
Median Household Income
$26,980
Median Earnings
$1,248
Median Rent
$175,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey investment with commercial and residential income in place.
Where is this mixed-use property located?
The property is located at 12989 Bellaire Blvd Houston, TX.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: Fully leased commercial/retail/mixed‑use building.; Turnkey investment with immediate income from commercial and residential tenants.; First floor occupied by a reliable commercial tenant generating steady rental income.**
