Shell-Condition Storefront
New
For Sale
$1,450,000
17211 North Fwy, Houston, TX 77090
Newly built retail space offers flexible layouts for multiple suites, a single user, or a drive-through configuration.
Property Size7,500 SF
Price / SF$193.33
Days on Market2
Property Features for 17211 North Fwy
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Vacant-User
Additional Details
Traffic Count
263,000 vehicles/day
Amenities
NEWER CONSTRUCTION WITH MODERN DESIGN
MULTIPLE LEASING CONFIGURATIONS
DRIVE-THRU OPTIONALITY
EXCEPTIONAL FREEWAY VISIBILITY
Building Details
Building Size
7,500 SF
Year Built
2021
Buildings
1
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5225
Listed By:
Philip Levy · License #License(s): TX: 0522087-SA
(972) 755-5225
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:29AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Completed in 2021, this 7,500-square-foot storefront property is offered in shell condition, giving the next owner a blank interior for build-out. The layout can support multiple retail suites, a single-user arrangement, or an end-cap configuration with a drive-through. The property is also suited to retail, restaurant, medical, and service uses as described in the source information.
The building is positioned at a signalized intersection of Interstate 45 and FM 1960 in Houston. It fronts a commercial corridor with reported exposure to more than 263,000 vehicles per day and includes parking for property users. Its freeway-facing position and adaptable suite planning support a range of occupancy configurations.
The building is positioned at a signalized intersection of Interstate 45 and FM 1960 in Houston. It fronts a commercial corridor with reported exposure to more than 263,000 vehicles per day and includes parking for property users. Its freeway-facing position and adaptable suite planning support a range of occupancy configurations.
Key Highlights
- 7,500‑square‑foot retail building completed in 2021
- Shell condition allows new ownership to plan the interior build‑out
- Flexible configuration for multiple suites or a single user
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
$101,697
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
7.01%
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%
$2,033,940
$2.0M
Cap Rate 7%
$1,452,814
$1.5M
Cap Rate 9%
$1,129,967
$1.1M
Market Conditions
NOI Build-Up for 7,500 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
$153.9K $20.52/SF
− Vacancy
−$8.6K −$1.15/SF
EGI
$145.3K $19.37/SF
− OpEx
−$43.6K −$5.81/SF
NOI
$101.7K $13.56/SF
Area
Houston, TX
Vacancy
5.60%
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%
$2,033,940
Cap Rate 7%
$1,452,814
Cap Rate 9%
$1,129,967
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.69M
NOI $101,697 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,000 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
263,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77090, TX
42,285
Population
19,076
Households
2.2
Avg Household Size
30
Median Age
25%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
4,917
Density / Sq Mi
$48,196
Median Household Income
$35,936
Median Earnings
$1,228
Median Rent
$235,500
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Newly built retail space offers flexible layouts for multiple suites, a single user, or a drive-through configuration.
Where is this storefront property located?
The property is located at 17211 North Fwy Houston, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 7,500‑square‑foot retail building completed in 2021; Shell condition allows new ownership to plan the interior build‑out; Flexible configuration for multiple suites or a single user
