Neighborhood Shopping
1591 E HWY 6 Alvin, TX 77511
1591 E HWY 6, Alvin, TX, 77511
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For Sale
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A 2001-built retail center with ten national or regional retailers, services, and restaurants anchored by a strong tenant mix.
Property Size22,405 SF
Price / SF$283.54
Days on Market52
Property Features for 1591 E HWY 6
General Information
- Standard status
- Active
- Size
- 22,405 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2001
Listing agency
Frankel Development Group Inc
Listed by
Bruce Frankel · License #9000477
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 3:59PM Checked: Jul 21 at 4:47AM
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 Frankel Development Group Inc
Investment Insights
Based on property information with market context.
Alvin Marketplace is a neighborhood shopping center built in 2001, offering a tenant mix that includes ten national or regional retailers, service-oriented businesses, and restaurants. The property has concrete parking and is described as having retained almost half of its original tenants over its 25-year lifespan, reflecting continuity within the center’s lineup. Tenant leases are indicated as triple net, supported by solid construction intended to keep operating costs low for an owner.
The center is positioned at Alvin’s main retail node, supported by its visibility in the city. Public remarks note residential development in Alvin at historic levels and population growth within 5 miles of the property at about 3.0% annually since 2021. The area is also described as experiencing increased traffic tied to Highway 35 and Highway 6, with upgrades to the Highway 6/35 intersection already completed and additional changes expected as Highway 35 connects into the Grand Parkway.
For operators and investors evaluating retail real estate, Alvin Marketplace offers a diversified neighborhood shopping format with multiple retailer and service offerings under a long-established center structure. The remarks further note that leases are generally under five years, supporting flexibility for replacement when available, alongside ongoing center relevance attributed to its construction and tenant support.
The center is positioned at Alvin’s main retail node, supported by its visibility in the city. Public remarks note residential development in Alvin at historic levels and population growth within 5 miles of the property at about 3.0% annually since 2021. The area is also described as experiencing increased traffic tied to Highway 35 and Highway 6, with upgrades to the Highway 6/35 intersection already completed and additional changes expected as Highway 35 connects into the Grand Parkway.
For operators and investors evaluating retail real estate, Alvin Marketplace offers a diversified neighborhood shopping format with multiple retailer and service offerings under a long-established center structure. The remarks further note that leases are generally under five years, supporting flexibility for replacement when available, alongside ongoing center relevance attributed to its construction and tenant support.
Key Highlights
- Alvin Marketplace is a neighborhood shopping center built in 2001.
- Ten (10) national/regional retailers, service‑oriented businesses, and restaurants make up the tenant lineup.
- Property retains almost half of its original tenants over its 25‑year lifespan.
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 | $459.8k | $20.52 |
| − Vacancy | −$26.2k | −$1.17 |
| EGI | $433.5k | $19.35 |
| − OpEx | −$130.1k | −$5.81 |
| NOI | $303.5k | $13.55 |
22,405 SF · lease $20.52/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.34M
$3.79M – $5.06M
NOI $303,481 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$279.11M
$244.22M – $325.63M
NOI $19,537,808 @ 7.0% cap · market cap 307.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The UPS Store
Courier Service
Subway
Take-out & Catering
Smile Avenue Family ...
Dental Office
Dr. Danielle K. ...
Dental Office
Amtex Auto Insurance
Insurance Agency
Similar For Sale Nearby
Similar Off Market Nearby
- Quick-Tag — walmart supercenter, 400 hwy 35 bypass n, alvin, tx 77511
FAQs
What type of property is this?
Shopping center - A 2001-built retail center with ten national or regional retailers, services, and restaurants anchored by a strong tenant mix.
Where is this shopping center located?
The property is located at 1591 E HWY 6 Alvin, TX.
What is the asking price?
The asking price for this property is $6,352,650.
What are key features of this property?
This property features: Alvin Marketplace is a neighborhood shopping center built in 2001.; Ten (10) national/regional retailers, service‑oriented businesses, and restaurants make up the tenant lineup.; Property retains almost half of its original tenants over its 25‑year lifespan.
