Houston Retail Center For
For Sale
Contact for pricing
2015 W 34th St, Houston, TX 77018
Fully occupied 6,329 SF retail center in Houston, Texas.
Property Size6,329 SF
Lot Size0.41 Acres
Price / SF$363.25
Days on Market181
Property Features for 2015 W 34th St
General Information
Standard status
Active
Size
6,329 SF
Class
B
Total Parking Spaces
25
Lot size
0.41 Acres
Property subtype
Retail
Zoning
COM
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$156,279
Building Details
Year Built
1995
Year Renovated
2020
Buildings
1
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Houston
Listed By:
Gus Lagos · License #TX 419197
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 8 at 6:33AM
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 - Houston
Investment Insights
Based on property information with market context.
The West 34th Center, located at 2015 West 34th Street in Houston, Texas, is available for sale. This retail center has a total area of 6,329 square feet and is situated on approximately 0.41 acres. The property is located adjacent to the signalized corner of West 34th Street and Oak Forest Drive. The property is fully occupied by eight tenants. The Oak Forest and Garden Oaks neighborhoods, located just north of Loop 610, have experienced robust price appreciation, growing demand, and active redevelopment. As of late 2025, the median sale prices in the combined Oak Forest-Garden Oaks area reflect year-over-year gains. Oak Forest median prices showed strong growth with roughly 32.9 percent year-over-year appreciation to around $698,000, while the broader Oak Forest-Garden Oaks neighborhood saw its median around $525,000, up more than 10 percent compared to the previous year. The overall trend for Oak Forest / Garden Oaks has leaned toward price appreciation and sustained buyer interest, especially as homebuyers look for inner-loop locations with established community character and redevelopment potential.
Key Highlights
- Located in the highly desirable Oak Forest/Garden Oaks area, known for strong residential market growth and price appreciation.
- 100% occupancy with eight tenants, providing immediate income.
- Located on a high‑traffic, signalized corner of West 34th Street and Oak Forest Drive.
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
$85,819
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
3.73%
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%
$1,716,380
$1.7M
Cap Rate 7%
$1,225,986
$1.2M
Cap Rate 9%
$953,544
$953.5K
Market Conditions
NOI Build-Up for 6,329 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
$129.9K $20.52/SF
− Vacancy
−$7.3K −$1.15/SF
EGI
$122.6K $19.37/SF
− OpEx
−$36.8K −$5.81/SF
NOI
$85.8K $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%
$1,716,380
Cap Rate 7%
$1,225,986
Cap Rate 9%
$953,544
Alternative Uses
Best Use
Retail
$1.23M
$1.07M – $1.43M
NOI $85,819 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,922 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,601
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77018, TX
27,870
Population
13,335
Households
2.1
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
6.8 sq mi
ZIP Area
4,099
Density / Sq Mi
$121,658
Median Household Income
$75,487
Median Earnings
$1,256
Median Rent
$543,800
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.
Similar Off Market Nearby
- Ella Oaks — 1727-1737 W 34th St, Houston, TX 77018
- Ella Plaza — Ella Blvd, Houston, TX 77018
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied 6,329 SF retail center in Houston, Texas.
Where is this shopping center located?
The property is located at 2015 W 34th St Houston, TX.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: Located in the highly desirable Oak Forest/Garden Oaks area, known for strong residential market growth and price appreciation.; 100% occupancy with eight tenants, providing immediate income.; Located on a high‑traffic, signalized corner of West 34th Street and Oak Forest Drive.
