Retail Plaza on Hard
13660 Westheimer Rd Houston, TX 77077
13660 Westheimer Rd, Houston, TX, 77077
Contact for pricing
For Sale
Contact for pricing
Retail plaza on a hard corner featuring 100% occupancy with five tenants and additional billboard revenue.
Property Size15,570 SF
Lot Size1.08 Acres
Price / SF$218.37
Days on Market118
Property Features for 13660 Westheimer Rd
General Information
- Standard status
- Active
- Size
- 15,570 SF
- Lot size
- 1.08 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1980
Listing agency
Partners
(713) 316-7059
Listed by
Scott Lunine · License #787298
Source
Crexi
Added: Mar 27 Updated: Jul 22 at 7:46AM Checked: Jul 22 at 7:46AM
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 Partners
Investment Insights
Based on property information with market context.
AW Plaza is a +/-15,570-square-foot retail plaza on a +/-1.08-acre site. The center is currently 100% occupied with five retail tenants, and it also generates additional revenue from an on-site billboard. Leasing terms include annual rental escalations in most leases, and four of the five tenants have lease expirations more than two years out, with the remaining tenant on a month-to-month basis but willing to sign an extension.
The property is located at the hard corner of busy Westheimer Road and Panagard Drive, between Highway 6 and Eldridge Parkway. The surrounding area includes a wide range of residential rooftops within less than a mile, and the retail corridor is near major retailers including Target, Petsmart, Floor & Décor, and West Oaks Mall.
For buyers, the remarks indicate a day-one 8.3% CAP rate, with opportunities to enhance returns through adjustments to current tenancy or a property improvement plan.
The property is located at the hard corner of busy Westheimer Road and Panagard Drive, between Highway 6 and Eldridge Parkway. The surrounding area includes a wide range of residential rooftops within less than a mile, and the retail corridor is near major retailers including Target, Petsmart, Floor & Décor, and West Oaks Mall.
For buyers, the remarks indicate a day-one 8.3% CAP rate, with opportunities to enhance returns through adjustments to current tenancy or a property improvement plan.
Key Highlights
- Approximately 15,570 SF retail plaza on a +/-1.08‑acre site at the hard corner of Westheimer Rd & Panagard Dr.
- 100% occupied with 5 retail tenants, plus additional revenue from an on‑site billboard.
- Day‑one 8.3% cap rate reported, with annual rental escalations in most leases to help increase NOI.
Local Financial Insights For 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 | $319.5k | $20.52 |
| − Vacancy | −$17.9k | −$1.15 |
| EGI | $301.6k | $19.37 |
| − OpEx | −$90.5k | −$5.81 |
| NOI | $211.1k | $13.56 |
15,570 SF · lease $20.52/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.02M
$2.64M – $3.52M
NOI $211,123 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,260 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Fadeaway Barbershop & Lounge
Barber Shop
Tacos Pacos
Restaurant
Lux Tavern
Bar & Pub
Similar For Sale Nearby
Similar Off Market Nearby
- Wind Chimes Shopping Center — 13155 Westheimer Rd, Houston, TX 77077
- Market Square at Eldridge — 2660 Eldridge Pkwy S, Houston, TX 77082
- West Oaks Central — 2838 S Texas 6, Houston, TX 77082
- Westheimer Medical Plaza — 13977 Westheimer Rd, Houston, TX 77082
- Coin Cloud Bitcoin ATM — 2838 s texas 6, houston, tx 77082
FAQs
What type of property is this?
Shopping center - Retail plaza on a hard corner featuring 100% occupancy with five tenants and additional billboard revenue.
Where is this shopping center located?
The property is located at 13660 Westheimer Rd Houston, TX.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Approximately 15,570 SF retail plaza on a +/-1.08‑acre site at the hard corner of Westheimer Rd & Panagard Dr.; 100% occupied with 5 retail tenants, plus additional revenue from an on‑site billboard.; Day‑one 8.3% cap rate reported, with annual rental escalations in most leases to help increase NOI.
