Retail Center with Corner
For Sale
Contact for pricing
1809 1st St, Galena Park, TX 77547
A multi-suite retail center with full frontage access and ample parking, suited for owner-user or investment buyers.
Property Size3,400 SF
Price / SF$323.53
Days on Market87
Property Features for 1809 1st St
General Information
Standard status
Active
Size
3,400 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
Apex Brokerage, LLC
(832) 282-0224
Listed By:
Farid Chatur · License #0599697
(832) 282-0224
Source:
Moodyscre
Added: May 19
Changed: Jul 10
Last Checked: Aug 12 at 11:03AM
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 Apex Brokerage, LLC
Investment Insights
Based on property information with market context.
This property is a retail center totaling approximately 3,400 SF, set on an estimated 10,000 SF land area. It features multiple retail suites, providing flexible space for a range of retail concepts or tenant mixes. The site is positioned for convenient customer access with full-frontage ingress and egress.
The center is located on a high-visibility corner and is approximately one block from a signalized intersection. The surrounding area includes both residential and industrial development, supporting everyday local traffic patterns. The property is also described as minutes from the Houston Ship Channel.
For buyers, the layout of multiple suites can support an owner-operator model while still offering the option to lease to separate tenants. The full frontage access and strong parking ratio are practical considerations for retail operations that rely on customer convenience and easy drop-off and pickup. With its corner location and straightforward site circulation, the property is a workable fit for a variety of retail uses seeking a compact, manageable footprint with customer-friendly access.
The center is located on a high-visibility corner and is approximately one block from a signalized intersection. The surrounding area includes both residential and industrial development, supporting everyday local traffic patterns. The property is also described as minutes from the Houston Ship Channel.
For buyers, the layout of multiple suites can support an owner-operator model while still offering the option to lease to separate tenants. The full frontage access and strong parking ratio are practical considerations for retail operations that rely on customer convenience and easy drop-off and pickup. With its corner location and straightforward site circulation, the property is a workable fit for a variety of retail uses seeking a compact, manageable footprint with customer-friendly access.
Key Highlights
- ±3,400 SF multi‑suite retail center
- ±10,000 SF land area
- High‑visibility corner location with full frontage ingress & egress
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
$40,398
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
3.67%
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%
$807,960
$808.0K
Cap Rate 7%
$577,114
$577.1K
Cap Rate 9%
$448,867
$448.9K
Market Conditions
NOI Build-Up for 3,400 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
$61.2K $18.00/SF
− Vacancy
−$3.5K −$1.03/SF
EGI
$57.7K $16.97/SF
− OpEx
−$17.3K −$5.09/SF
NOI
$40.4K $11.88/SF
Area
Harris County, TX
Vacancy
5.70%
Lease Rate
$18.00 /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%
$807,960
Cap Rate 7%
$577,114
Cap Rate 9%
$448,867
Alternative Uses
Best Use
Retail
$577.1K
$505.0K – $673.3K
NOI $40,398 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$928.4K
$812.3K – $1.08M
NOI $64,986 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77547, TX
9,627
Population
2,928
Households
3.3
Avg Household Size
31
Median Age
9%
College-Educated
68%
High-School Grad
3.9 sq mi
ZIP Area
2,468
Density / Sq Mi
$53,854
Median Household Income
$30,171
Median Earnings
$1,099
Median Rent
$109,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - A multi-suite retail center with full frontage access and ample parking, suited for owner-user or investment buyers.
Where is this shopping center located?
The property is located at 1809 1st St Galena Park, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: ±3,400 SF multi‑suite retail center; ±10,000 SF land area; High‑visibility corner location with full frontage ingress & egress
