Neighborhood Shopping
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1591 E HWY 6, Alvin, TX 77511
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 Market99
Property Features for 1591 E HWY 6
General Information
Standard status
Active
Size
22,405 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$393,864
Additional Details
Traffic Count
40,000 vehicles/day
Building Details
Year Built
2001
Units
17
Tenancy
Multi
Listing Agency:
Frankel Development Group Inc
Listed By:
Bruce Frankel · License #9000477
Source:
Crexi
Added: Jun 1
Changed: Aug 22
Last Checked: Aug 30 at 8:07PM
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.
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
$303,481
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
4.78%
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%
$6,069,620
$6.1M
Cap Rate 7%
$4,335,443
$4.3M
Cap Rate 9%
$3,372,011
$3.4M
Market Conditions
NOI Build-Up for 22,405 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
$459.8K $20.52/SF
− Vacancy
−$26.2K −$1.17/SF
EGI
$433.5K $19.35/SF
− OpEx
−$130.1K −$5.81/SF
NOI
$303.5K $13.55/SF
Area
Brazoria County, TX
Vacancy
5.70%
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%
$6,069,620
Cap Rate 7%
$4,335,443
Cap Rate 9%
$3,372,011
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
40,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
302k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Superstores 30%
Shops & Services 19%
Home Improvements & Furnishings 13%
Walmart
Superstores
90,582 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
39,268 visits/mo
0.2 miles
Chick-fil-A
Dining
38,587 visits/mo
0.2 miles
Murphy USA
Shops & Services
19,792 visits/mo
0.1 miles
Starbucks
Dining
14,931 visits/mo
0.2 miles
Demographics for 77511, TX
51,093
Population
20,499
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
83%
High-School Grad
150.1 sq mi
ZIP Area
340
Density / Sq Mi
$77,015
Median Household Income
$43,119
Median Earnings
$1,213
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Quick-Tag — walmart supercenter, 400 hwy 35 bypass n, alvin, tx 77511
Frequently Asked Questions
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.
