Houston Walgreens A+ Location For
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15633 Vintage Preserve Pkwy, Houston, TX 77070
High-traffic Houston Walgreens in exclusive retail center.
Property Size14,820 SF
Lot Size1.70 Acres
Price / SF$465.62
Days on Market314
Property Features for 15633 Vintage Preserve Pkwy
General Information
Standard status
Active
Size
14,820 SF
Lot size
1.70 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$414,027
Building Details
Year Built
2017
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
SVN | Net Lease Texas
(469) 828-1950
Listed By:
Glen Berhow · License #TX 0602310
Source:
Crexi
Added: Oct 2, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:23AM
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 SVN | Net Lease Texas
Investment Insights
Based on property information with market context.
Located at 15633 Vintage Preserve Parkway in Houston, Texas, this property features a Walgreens store (#1645) in an A+ location. Constructed in 2017 as a relocation store, it is part of the Vintage Marketplace, an exclusive retail center anchored by Whole Foods. The property spans 14,820 square feet on 1.698 acres, situated at the hard corner of the signalized intersection of Louetta Road and Vintage Preserve Parkway. Traffic counts are significant, with over 34,700 vehicles per day (VPD) on Louetta Road and over 31,200 VPD on Vintage Preserve Parkway. The surrounding area has a population exceeding 108,000 and an average household income above $127,000 within a 3-mile radius. This Northwest Houston retail area is located just off Highway 249, which sees over 84,000 VPD. Neighboring national retailers and medical properties include Chick Fil A, Home Depot, Kroger, CVS, St Luke’s Hospital, MD Anderson Cancer Center, and Lone Star College.
Key Highlights
- A+ Location: Hard corner at the signalized intersection of Louetta Road and Vintage Preserve Parkway within the Vintage Marketplace, anchored by Whole Foods.
- High Traffic Counts: Louetta Road (34,700+ VPD) and Vintage Preserve Parkway (31,200+ VPD) provide exceptional visibility.
- Strong Demographics: High population (108,000+) and average household income ($127,000+) within a 3‑mile radius.
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
$228,080
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
3.31%
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%
$4,561,600
$4.6M
Cap Rate 7%
$3,258,286
$3.3M
Cap Rate 9%
$2,534,222
$2.5M
Market Conditions
NOI Build-Up for 14,820 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
$320.1K $21.60/SF
− Vacancy
−$16.0K −$1.08/SF
EGI
$304.1K $20.52/SF
− OpEx
−$76.0K −$5.13/SF
NOI
$228.1K $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%
$4,561,600
Cap Rate 7%
$3,258,286
Cap Rate 9%
$2,534,222
Alternative Uses
Best Use
Specialty Retail
$3.26M
$2.85M – $3.80M
NOI $228,080 @ 7.0% cap · market cap 3.31%
Second Best
Retail
$2.87M
$2.51M – $3.35M
NOI $200,954 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$3.81M
$3.33M – $4.45M
NOI $266,760 @ 7.0% cap · market cap 3.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77070, TX
52,943
Population
23,272
Households
2.3
Avg Household Size
36
Median Age
38%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
4,073
Density / Sq Mi
$72,440
Median Household Income
$44,073
Median Earnings
$1,571
Median Rent
$264,300
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Pharmacy — 10010 Cypresswood Dr, Houston, TX 77070
- Walgreens — 11445 Compaq Center W Dr, Houston, TX 77070
- Smoothie King — 19736 TX-249, Houston, TX 77070
- Learning Rx — 9720 Cypresswood Dr #140, Houston, TX 77070
- Allison G. Mercadel, RPH — 20405 TX-249, Houston, TX 77070, United States
Frequently Asked Questions
What type of property is this?
Drug store - High-traffic Houston Walgreens in exclusive retail center.
Where is this drug store located?
The property is located at 15633 Vintage Preserve Pkwy Houston, TX.
What is the asking price?
The asking price for this property is $6,900,450.
What are key features of this property?
This property features: A+ Location: Hard corner at the signalized intersection of Louetta Road and Vintage Preserve Parkway within the Vintage Marketplace, anchored by Whole Foods.; High Traffic Counts: Louetta Road (34,700+ VPD) and Vintage Preserve Parkway (31,200+ VPD) provide exceptional visibility.; Strong Demographics: High population (108,000+) and average household income ($127,000+) within a 3‑mile radius.
