Houston Mixed-Use Investment
For Sale
$695,000
2423 Emancipation Ave 2, Houston, TX 77004
Income-producing property with retail and residential units in Houston.
Property Size3,470 SF
Lot Size0.11 Acres
Days on Market269
Property Features for 2423 Emancipation Ave 2
General Information
Standard status
Active
Size
3,470 SF
Lot size
0.11 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,144
Building Details
Building Size
3,470 SF
Year Built
1960
Stories
2
Listing Agency:
(832) 907-7998
Listed By:
Ye Sun · License #0682466
(832) 907-7998
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 24 at 10:35AM
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 Ye Sun
Investment Insights
Based on property information with market context.
This income-producing mixed-use property is located in a high-traffic area of Houston. The building includes two street-level retail storefronts and a four-bedroom apartment on the second floor. All units are currently occupied and generating rental income. The property's location and layout offer potential for value appreciation and long-term growth, presenting an opportunity for investors seeking cash flow or those looking to maximize future returns.
Key Highlights
- Prime location in a vibrant, high‑traffic Houston neighborhood.
- Income‑producing property with consistent rental income.
- Fully occupied with a strong tenant base.
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
$47,052
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
6.77%
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%
$941,040
$941.0K
Cap Rate 7%
$672,171
$672.2K
Cap Rate 9%
$522,800
$522.8K
Market Conditions
NOI Build-Up for 3,470 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
$71.2K $20.52/SF
− Vacancy
−$4.0K −$1.15/SF
EGI
$67.2K $19.37/SF
− OpEx
−$20.2K −$5.81/SF
NOI
$47.1K $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%
$941,040
Cap Rate 7%
$672,171
Cap Rate 9%
$522,800
Alternative Uses
Best Use
Retail
$672.2K
$588.2K – $784.2K
NOI $47,052 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$654.3K
$572.6K – $763.4K
NOI $45,804 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$892.3K
$780.8K – $1.04M
NOI $62,460 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing property with retail and residential units in Houston.
Where is this mixed-use property located?
The property is located at 2423 Emancipation Ave 2 Houston, TX.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Prime location in a vibrant, high‑traffic Houston neighborhood.; Income‑producing property with consistent rental income.; Fully occupied with a strong tenant base.
