Houston Chinatown Retail &
For Sale
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12989 Bellaire Blvd Unit 7, Houston, TX 77072
Three-story, fully leased retail and office condominium in Houston's Chinatown.
Property Size5,000 SF
Price / SF$159
Days on Market426
Property Features for 12989 Bellaire Blvd Unit 7
General Information
Standard status
Active
Size
5,000 SF
Class
C
Total Parking Spaces
130
Property subtype
Office, Retail
Lease Type
Gross
Building Details
Buildings
1
Stories
3
Units
1
Tenancy
Single
Listing Agency:
SKW Realty
Listed By:
Serene Wong · License #0688577
Source:
Crexi
Added: Jun 13, 2025
Changed: Aug 8
Last Checked: Aug 10 at 8:55AM
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 SKW Realty
Investment Insights
Based on property information with market context.
Located at 12989 Bellaire Blvd, Unit 7, Houston, TX 77072, this fully leased three-story retail and office condominium is situated at the intersection of Bellaire Blvd and Synott Rd in Houston’s Alief/Chinatown district. The unit, part of a 17-unit commercial center, benefits from high visibility and heavy foot and vehicle traffic. The property has a total size of approximately 5,000 square feet across three floors. The ground floor, with approximately 1,800 square feet, features high-exposure retail space with large storefront windows suitable for beauty, retail, food, or office use. The second floor, with approximately 2,100 square feet and a private entrance, includes 3 rooms (offices or bedrooms), 2 full bathrooms, a kitchen, a dining area, and laundry hookup, making it suitable for mixed-use. The third floor, with approximately 1,100 square feet, provides usable attic space for storage or additional office or flex space. The property is currently 100% tenant-occupied and generating rental income. It also offers ample shared parking, professionally managed common areas, and built-in signage opportunities on Bellaire Blvd. Located in Houston’s Chinatown / Alief retail corridor, the property is minutes from Beltway 8, Highway 6, and Westpark Tollway. There are no zoning restrictions.
Key Highlights
- 100% tenant‑occupied, generating rental income.
- Prime location on Bellaire Blvd** in Houston's Chinatown/Alief district with high visibility and traffic.
- ±5,000 SF three‑story unit with flexible space:** retail, office, and potential residential.
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
$67,798
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
8.47%
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%
$1,355,960
$1.4M
Cap Rate 7%
$968,543
$968.5K
Cap Rate 9%
$753,311
$753.3K
Market Conditions
NOI Build-Up for 5,000 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
$102.6K $20.52/SF
− Vacancy
−$5.7K −$1.15/SF
EGI
$96.9K $19.37/SF
− OpEx
−$29.1K −$5.81/SF
NOI
$67.8K $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%
$1,355,960
Cap Rate 7%
$968,543
Cap Rate 9%
$753,311
Alternative Uses
Best Use
Retail
$968.5K
$847.5K – $1.13M
NOI $67,798 @ 7.0% cap · market cap 8.47%
Second Best
Mixed Use
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,000 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
506
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 Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story, fully leased retail and office condominium in Houston's Chinatown.
Where is this mixed-use property located?
The property is located at 12989 Bellaire Blvd Unit 7 Houston, TX.
What is the asking price?
The asking price for this property is $799,990.
What are key features of this property?
This property features: 100% tenant‑occupied, generating rental income.; Prime location on Bellaire Blvd** in Houston's Chinatown/Alief district with high visibility and traffic.; ±5,000 SF three‑story unit with flexible space:** retail, office, and potential residential.
