Multi-Tenant Shopping
New
For Sale
$2,802,000
13250 FM 529, Houston, TX 77041
Seven tenants occupy the center, including five with triple-net leases.
Property Size10,660 SF
Lot Size0.75 Acres
Price / SF$262.85
Days on Market1
Property Features for 13250 FM 529
General Information
Standard status
Active
Size
10,660 SF
Lot size
0.75 Acres
Property subtype
Shopping Strip
Occupancy
100%
Financials
Asking Price
$2,802,000
Cap Rate
7.24%
Site & Location
Anchor Co-Tenants
Athena's Greek Kitchen
Traffic Count
50,320 vehicles/day
Amenities
Destination Anchor With a Regional Following: Athena's Greek Kitchen was named the best place to eat in Texas on Yelp's 2023 Top 100 list. The restaurant offers a full catering business for events.
Contractual Rent Growth Built Into the Rent Roll: Three tenants have future rent increases within current lease terms, adding $12,271 annually by June of 2029.
Value-Add Through Lease Conversion: • Five tenants are on triple-net leases • Athena's Greek Kitchen (25 percent of GLA) is on a gross lease, an opportunity to move to triple-net at renewal.
Needs-Based, Internet-Resistant Tenant Mix: • 100 percent occupied by seven tenants • Food and grocery users occupy nearly 60 percent of GLA, alongside dental, salon and pawn services.
Highly Trafficked Location Between Industry and Rooftops: • Fronts FM 529 (50,320 VPD) near North Eldridge Parkway (32,409 VPD). • Next to North Eldridge Business Park and an industrial employment corridor that drives weekday lunch traffic. • More than 115,000 residents within three miles; $110,137 average household income within three miles. • Nearby retailers include Family Dollar, La Michoacana Meat Market, Burger King and Domino's.
Seller Reports Recently Replaced TPO Roof: There is no known deferred maintenance.
Building Details
Building Size
10,660 SF
Year Built
2002
Tenancy
Multi
Listing Agency:
Houston Office
Listed By:
Scott Jones · License #License(s): TX: 81153
(713) 452-4359
Source:
Marcusmillichap
Added: Oct 16
Last Checked: Oct 16 at 2:15PM
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 Houston Office
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Investment Insights
Based on property information with market context.
This 10,660-square-foot retail center sits on 0.75 acres and was built in 2002. Seven tenants occupy the property, including Athena’s Greek Kitchen; five leases are structured as triple-net, and most tenant agreements include scheduled rent increases. The restaurant’s lease extends through March 2030, with a gross lease structure currently in place.
At 13250 FM 529 in Houston, the property fronts FM 529 just west of North Eldridge Parkway. Reported traffic counts are 50,320 vehicles per day on FM 529 and 32,409 on North Eldridge Parkway. More than 115,000 residents live within three miles, and nearly 281,000 live within five miles. North Eldridge Business Park and nearby industrial businesses contribute daytime employment in the area.
At 13250 FM 529 in Houston, the property fronts FM 529 just west of North Eldridge Parkway. Reported traffic counts are 50,320 vehicles per day on FM 529 and 32,409 on North Eldridge Parkway. More than 115,000 residents live within three miles, and nearly 281,000 live within five miles. North Eldridge Business Park and nearby industrial businesses contribute daytime employment in the area.
Key Highlights
- 10,660‑square‑foot retail center on 0.75 acres
- Built in 2002 at 13250 FM 529, Houston, Texas
- 100 percent occupied by seven tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,546
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,890,920
$2.9M
Cap Rate 7%
$2,064,943
$2.1M
Cap Rate 9%
$1,606,067
$1.6M
Market Conditions
NOI Build-Up for 10,660 SF
Gross rent
$218.7K $20.52/SF
− Vacancy
−$12.2K −$1.15/SF
EGI
$206.5K $19.37/SF
− OpEx
−$61.9K −$5.81/SF
NOI
$144.5K $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 Rate 5%
$2,890,920
Cap Rate 7%
$2,064,943
Cap Rate 9%
$1,606,067
Alternative Uses
Best Use
Retail
$2.06M
$1.81M – $2.41M
NOI $144,546 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,880 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
50,320 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77041, TX
35,958
Population
11,877
Households
3
Avg Household Size
38
Median Age
38%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,903
Density / Sq Mi
$79,164
Median Household Income
$40,991
Median Earnings
$1,638
Median Rent
$269,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Houston, TX
Similar Off Market Nearby
- ELDRIDGE PLAZA — 13150 FM 529, Houston, TX 77041
- Windsor Plaza Shopping Center — 13180 farm to market rd 529, houston, tx 77041
- Tienda de camiones Hércules — 7115 Satsuma Dr, Houston, TX 77041
Frequently Asked Questions
What type of property is this?
Shopping center - Seven tenants occupy the center, including five with triple-net leases.
Where is this shopping center located?
The property is located at 13250 FM 529 Houston, TX.
What is the asking price?
The asking price for this property is $2,802,000.
What are key features of this property?
This property features: 10,660‑square‑foot retail center on 0.75 acres; Built in 2002 at 13250 FM 529, Houston, Texas; 100 percent occupied by seven tenants
