Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Retail Center on Highway Title is generated by Realmo AI

    1581 US Highway 181, Portland, TX 78359

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    New shopping center with spaces for lease near HEB.

    Type:Retail
    Added:
    Apr 19, 2024
    Days on Market:
    775
    Last Refresh:
    May 12 at 10:39 pm

    Property Features for 1581 US Highway 181

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 1581 US Highway 181 Contact us

    Available Space $30/Mo

    Size
    3,906 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Lynann Pinkham

    Listing agent Lynann Pinkham License #TX 319336

    Listing office Cravey Real Estate Services Inc

    Listing date Apr 19, 2024

    Source Crexi

    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 Cravey Real Estate Services Inc

    HighLights

    • Brand new shopping center, offering modern facilities and appeal.
    • Located directly adjacent to HEB Grocery, providing high visibility and customer traffic.
    • Established tenants including Jersey Mike's, Buffalo Wild Wings Go, Sun Loan, Vaani Dental, UPS, and Great Clips, ensuring immediate income stream.
    • NNN leases in place, transferring expense responsibilities to tenants.
    • Landlord will consider subdivision, offering flexibility for different investment strategies.
    • Located along Highway 181 at Lang Drive, providing easy access and high visibility.

    Overview

    This brand new shopping center is located along Highway 181 at Lang Drive, directly adjacent to HEB Grocery. Current tenants include Jersey Mike's, Buffalo Wild Wings Go, Sun Loan, Vaani Dental, UPS, and Great Clips. The landlord will consider subdivision of the available space. Leases are NNN, with tenants paying their pro-rata share, estimated at $8.00/SF/year. This NNN expense is in addition to the base rent and is subject to annual adjustment. The property is intended for commercial use.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    San Patricio
    State
    Texas
    Longitude
    -97.313247
    Latitude
    27.890382

    Nearby Similar for Lease

    • $1,650/Mo
      960 SF

      Portland Commercial Space For Rent

      One-story commercial building with easy access and multiple use possibilities.
      906 Dallas Street, Portland, TX 78374
      View Details
    • $2,450/Mo
      1,250 SF

      New Commercial Space in Portland

      Brand new commercial space with customizable layout in booming Portland.
      205 Cedar Drive, Portland, TX 78374
      View Details
    • $2,850/Mo
      3,000 SF

      Portland Office Space For Lease

      Office space available for lease in booming Portland industrial corridor.
      1025 US Hwy 181, Portland, TX 78374
      View Details
    • $2,850/Mo
      3,000 SF

      Portland Office Space For Lease

      Office space available for lease in Portland, Texas.
      1025 US Hwy 181, Portland, TX 78374
      View Details
    • $3,700/Mo
      3,200 SF

      Unique Commercial Property in Portland, TX

      Versatile commercial space in Portland's Entertainment District, ideal for events.
      610 Elm Drive, Portland, TX 78374
      View Details
    • $2,550/Mo
      3,000 SF

      Highway Warehouse in Portland, Texas

      3000 SF warehouse space on the highway in Portland.
      1025 US Hwy 181, Portland, TX 78374
      View Details
    • $11,900/Mo
      6,461 SF

      Freestanding Bank Building on Highway

      High-visibility bank building for lease or sale in Portland, Texas.
      1031 Us Highway, Portland, TX 78374
      View Details
    • $1,800/Mo
      1,100 SF

      Renovated Office Space in Portland

      Affordable, renovated office space with flexible layout in high-traffic location.
      333 W Broadway Avenue, Portland, TX 78374
      View Details
    • $2,450/Mo
      1,625 SF

      Portland Office Space For Lease

      Commercial office space in Portland's Leisure & Entertainment District.
      321 5th Avenue, Portland, TX 78374
      View Details
    • Contact for pricing
      45,225 SF

      Portland, TX Specialty Property

      Specialty property available for rent in Portland, Texas.
      1600 Wildcat Drive, Portland, TX 78374
      View Details
    • Contact for pricing

      Retail Space on Highway 181

      Exceptional retail development opportunity for lease in Portland, Texas.
      1001 U.S. 181, Portland, TX, 78374
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space on High-Traffic Highway

      6,000 SF retail space with excellent highway visibility.
      100 Lang Rd, Portland, TX
      View Details

    FAQs

    What type of property is this?
    Shopping center - New shopping center with spaces for lease near HEB.
    Where is this shopping center located?
    The property is located at 1581 US Highway 181 Portland, TX.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Brand new shopping center, offering modern facilities and appeal.; Located directly adjacent to HEB Grocery, providing high visibility and customer traffic.; Established tenants including Jersey Mike's, Buffalo Wild Wings Go, Sun Loan, Vaani Dental, UPS, and Great Clips, ensuring immediate income stream.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lynann Pinkham
    Real Estate License ID: TX 319336
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1581 US Highway 181, Portland, TX 78359
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!