Richmond Retail Investment
For Sale
Contact for pricing
16803 W Airport Blvd, Richmond, TX 77407
Multi-tenant retail center in a high-growth Richmond location.
Property Size23,581 SF
Price / SF$426.28
Days on Market383
Property Features for 16803 W Airport Blvd
General Information
Standard status
Active
Size
23,581 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
The Blue Ox Group
(713) 324-8954
Listed By:
ANITA AMIN · License #TX 687033
Source:
Crexi
Added: Jul 29, 2025
Changed: Aug 11
Last Checked: Aug 14 at 4:25AM
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 The Blue Ox Group
Investment Insights
Based on property information with market context.
The property at 16803 W Airport Blvd in Richmond, Texas, presents an investment opportunity. This multi-tenant retail center is located at the southwest quadrant of W Airport Blvd and FM 1464, within the Houston metropolitan statistical area. The center features a tenant lineup of service, medical, and retail offerings. Positioned in the Aliana community, which spans 2,300 acres and includes over 4,000 homes, the property is located off the intersection of W Airport Blvd and FM 1464, with exposure to over 12,000 vehicles per day. Its location provides access to the Grand Parkway, Highway 6, and FM 1464. Access to the property is facilitated by multiple ingress and egress points, including one along W Airport Blvd and one along Novar Gardens Ave, as well as two cross-access points with the adjacent development. The surrounding trade area is experiencing rapid growth, with a population exceeding 303,000 within a 5-mile radius and a daytime population of over 139,000. The average household income within 1 mile of the center exceeds $168,000. The property size is 23,581 square feet.
Key Highlights
- Located in the heart of Aliana, a 2,300‑acre community with over 4,000 homes.
- High average household income exceeding $168,000 within 1 mile.
- Strong internet‑resistant tenant lineup including service, medical, and unique retail offerings.
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
$319,411
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
3.18%
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%
$6,388,220
$6.4M
Cap Rate 7%
$4,563,014
$4.6M
Cap Rate 9%
$3,549,011
$3.5M
Market Conditions
NOI Build-Up for 23,581 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
$483.9K $20.52/SF
− Vacancy
−$27.6K −$1.17/SF
EGI
$456.3K $19.35/SF
− OpEx
−$136.9K −$5.81/SF
NOI
$319.4K $13.55/SF
Area
Fort Bend 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%
$6,388,220
Cap Rate 7%
$4,563,014
Cap Rate 9%
$3,549,011
Alternative Uses
Best Use
Retail
$4.56M
$3.99M – $5.32M
NOI $319,411 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$293.76M
$257.04M – $342.72M
NOI $20,563,314 @ 7.0% cap · market cap 204.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,333
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
10,190 visits/mo
0.4 miles
Valero Energy
Shops & Services
5,150 visits/mo
0.4 miles
PNC Bank
Shops & Services
1,146 visits/mo
0.5 miles
Demographics for 77407, TX
74,657
Population
25,284
Households
3
Avg Household Size
34
Median Age
53%
College-Educated
91%
High-School Grad
20.0 sq mi
ZIP Area
3,733
Density / Sq Mi
$101,595
Median Household Income
$51,273
Median Earnings
$1,993
Median Rent
$353,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Post Office Boutiques — 310 Morton St REAR, Richmond, TX 77469
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail center in a high-growth Richmond location.
Where is this shopping center located?
The property is located at 16803 W Airport Blvd Richmond, TX.
What is the asking price?
The asking price for this property is $10,052,000.
What are key features of this property?
This property features: Located in the heart of Aliana, a 2,300‑acre community with over 4,000 homes.; High average household income exceeding $168,000 within 1 mile.; Strong internet‑resistant tenant lineup including service, medical, and unique retail offerings.
