Retail Plaza on Hard
For Sale
Contact for pricing
13660 Westheimer Rd, Houston, TX 77077
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$211.95
Days on Market165
Property Features for 13660 Westheimer Rd
General Information
Standard status
Active
Size
15,570 SF
Lot size
1.08 Acres
Property subtype
Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$234,402
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
8.3%
Building Details
Year Built
1980
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Hunington Properties
Listed By:
Ryan DeGennaro · License #TX 9004042
(713) 316-7059
Source:
Crexi
Added: Mar 27
Changed: Sep 7
Last Checked: Sep 7 at 12:23PM
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 Hunington Properties
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.
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
$211,123
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
6.40%
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%
$4,222,460
$4.2M
Cap Rate 7%
$3,016,043
$3.0M
Cap Rate 9%
$2,345,811
$2.3M
Market Conditions
NOI Build-Up for 15,570 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
$319.5K $20.52/SF
− Vacancy
−$17.9K −$1.15/SF
EGI
$301.6K $19.37/SF
− OpEx
−$90.5K −$5.81/SF
NOI
$211.1K $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%
$4,222,460
Cap Rate 7%
$3,016,043
Cap Rate 9%
$2,345,811
Alternative Uses
Best Use
Retail
$3.02M
$2.64M – $3.52M
NOI $211,123 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,260 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77077, TX
61,302
Population
32,911
Households
1.9
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
16.5 sq mi
ZIP Area
3,715
Density / Sq Mi
$71,080
Median Household Income
$45,880
Median Earnings
$1,418
Median Rent
$356,300
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
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Frequently Asked Questions
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 $3,300,000.
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.
