Retail Storefront with
1301 Griffin St Houston, TX 77009
1301 Griffin St, Houston, TX, 77009
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For Sale
Contact for pricing
Vacant vintage storefront with an operating laundromat setup and adjacent convenience store area, plus limited front parking.
Property Size1,672 SF
Price / SF$220.69
Days on Market70
Property Features for 1301 Griffin St
General Information
- Standard status
- Active
- Size
- 1,672 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1972
Listing agency
HomeSmart
Listed by
vidhi nayak · License #748138
Source
Crexi
Added: May 14 Updated: Jul 21 at 10:01PM Checked: Jul 21 at 10:01PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This vacant retail storefront features a dual-purpose layout combining a compact laundromat area with an adjacent convenience store section. The laundromat includes washing machines and dryers that are older models, with 10 dryers working and 13 washers working, out of a total of 16 dryers and 15 washers. The space is well-worn but maintained, with vintage seating for customers to wait.
The convenience store area is set up with a limited selection of everyday items, including canned goods, basic toiletries, snacks, beverages, and household essentials. Outside, the property has weathered but well-maintained signage and exterior lighting that provides evening illumination. Limited parking is available in front of the property.
The convenience store area is set up with a limited selection of everyday items, including canned goods, basic toiletries, snacks, beverages, and household essentials. Outside, the property has weathered but well-maintained signage and exterior lighting that provides evening illumination. Limited parking is available in front of the property.
Key Highlights
- Built in 1972 vintage commercial property featuring a laundromat and an adjacent convenience store area
- Laundromat has 15 washers total, with 13 washers currently working
- Laundromat has 16 dryers total, with 10 dryers currently working
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.1k | $21.60 |
| − Vacancy | −$1.8k | −$1.08 |
| EGI | $34.3k | $20.52 |
| − OpEx | −$8.6k | −$5.13 |
| NOI | $25.7k | $15.39 |
1,672 SF · lease $21.60/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$367.6K
$321.7K – $428.9K
NOI $25,732 @ 7.0% cap · market cap 6.97%
Second Best
Retail
$323.9K
$283.4K – $377.9K
NOI $22,672 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$429.9K
$376.2K – $501.6K
NOI $30,096 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sunrise Washateria & Grocery
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Helmers Food Store — 6417 Helmers St, Houston, TX 77022
FAQs
What type of property is this?
Grocery and convenience store - Vacant vintage storefront with an operating laundromat setup and adjacent convenience store area, plus limited front parking.
Where is this grocery and convenience store located?
The property is located at 1301 Griffin St Houston, TX.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Built in 1972 vintage commercial property featuring a laundromat and an adjacent convenience store area; Laundromat has 15 washers total, with 13 washers currently working; Laundromat has 16 dryers total, with 10 dryers currently working
