Shopping Center with Corner Development
For Sale
Contact for pricing
6525 Lawndale Street, Houston, TX 77023
Multi-building corner shopping center with existing retail, medical and office space plus land for additional retail development.
Property Size11,190 SF
Lot Size2.12 Acres
Price / SF$241.29
Days on Market728
Property Features for 6525 Lawndale Street
General Information
Standard status
Active
Size
11,190 SF
Lot size
2.12 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$3,000,000
Corner Location
Yes
Building Details
Tenancy
Multi
Listing Agency:
Carlos Garcia Realty
(713) 924-9100
Listed By:
Bill Garcia · License #174458
(281) 235-9904
Source:
Moodyscre
Added: Sep 20, 2024
Changed: Sep 17
Last Checked: Sep 16 at 8:38PM
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 Carlos Garcia Realty
Investment Insights
Based on property information with market context.
This shopping center offers a three-space retail configuration totaling 11,190 SF (HCAD), along with additional income-supporting space including an 8,260 SF cafeteria, a 1,430 SF medical clinic, a 700 SF pharmacy, and an 800 SF office. The land includes room to build additional retail on the corner, supporting an expansion opportunity tied to the existing center.
The property is located at the corner of Lawndale and Wayside Drive on a 2.115-acre site (92,170 SF). It borders the recently renovated Gus Wortham Golf Course, Villa De Matel Convent, Houston Country Club Addition, and Idylwood Addition, creating a well-defined setting for neighborhood-serving uses.
Lease expirations are scheduled for the 1st Qtr. 2025, which may be a key consideration for planning near-term occupancy and tenant mix for the retail/office development on the corner.
The property is located at the corner of Lawndale and Wayside Drive on a 2.115-acre site (92,170 SF). It borders the recently renovated Gus Wortham Golf Course, Villa De Matel Convent, Houston Country Club Addition, and Idylwood Addition, creating a well-defined setting for neighborhood-serving uses.
Lease expirations are scheduled for the 1st Qtr. 2025, which may be a key consideration for planning near-term occupancy and tenant mix for the retail/office development on the corner.
Key Highlights
- 2.115‑acre site (92,170 SF) at the corner of Lawndale and Wayside Drive
- Existing 11,190 SF (HCAD) three‑space retail center
- Additional on‑site space: 8,260 SF cafeteria, 1,430 SF medical clinic, 700 SF pharmacy
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
$172,214
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
6.38%
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%
$3,444,280
$3.4M
Cap Rate 7%
$2,460,200
$2.5M
Cap Rate 9%
$1,913,489
$1.9M
Market Conditions
NOI Build-Up for 11,190 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
$241.7K $21.60/SF
− Vacancy
−$12.1K −$1.08/SF
EGI
$229.6K $20.52/SF
− OpEx
−$57.4K −$5.13/SF
NOI
$172.2K $15.39/SF
Area
Houston, TX
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$3,444,280
Cap Rate 7%
$2,460,200
Cap Rate 9%
$1,913,489
Alternative Uses
Best Use
Specialty Retail
$2.46M
$2.15M – $2.87M
NOI $172,214 @ 7.0% cap · market cap 6.38%
Second Best
Healthcare Medical
$2.18M
$1.90M – $2.54M
NOI $152,274 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,420 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Houston, TX
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-building corner shopping center with existing retail, medical and office space plus land for additional retail development.
Where is this shopping center located?
The property is located at 6525 Lawndale Street Houston, TX.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 2.115‑acre site (92,170 SF) at the corner of Lawndale and Wayside Drive; Existing 11,190 SF (HCAD) three‑space retail center; Additional on‑site space: 8,260 SF cafeteria, 1,430 SF medical clinic, 700 SF pharmacy
