Retail Warehouse with Roll-Up
For Sale
$499,000
2521 Fulton Street, Houston, TX 77009
Retail with attached warehouse and distribution space, including a roll-up loading door for shipping and logistics.
Property Size4,000 SF
Price / SF$124.75
Days on Market56
Property Features for 2521 Fulton Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Lots
Additional Details
Highway Access
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$7,132
Listing Agency:
Walzel Properties - Corporate Office
(713) 503-9118
Listed By:
Alexander Rasmussen
(713) 503-9118
Source:
Nancyalmodovar
Added: Jul 6
Changed: Aug 24
Last Checked: Aug 29 at 2:54PM
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 Walzel Properties - Corporate Office
Investment Insights
Based on property information with market context.
This retail warehouse property includes approximately 4,000 square feet of functional retail space with attached warehouse and distribution area. The site also features an approximately 10' high by 10' wide roll-up loading door, designed to support loading and shipping operations with adequate clear height for modern use.
The property is located at 2521 Fulton Street in Houston, Texas, and is described as being less than 5 miles from Downtown Houston. Nearby access routes include I-45, I-69, and Loop 610.
The layout is positioned for flexible use, including retail, office, or mixed-use redevelopment, based on the configuration of the retail area and the attached warehouse/distribution space.
The property is located at 2521 Fulton Street in Houston, Texas, and is described as being less than 5 miles from Downtown Houston. Nearby access routes include I-45, I-69, and Loop 610.
The layout is positioned for flexible use, including retail, office, or mixed-use redevelopment, based on the configuration of the retail area and the attached warehouse/distribution space.
Key Highlights
- 4,000 SF retail space with attached warehouse and distribution area
- Approx. 10'H x 10'W roll‑up loading door for shipping and logistics
- Less than 5 miles from Downtown Houston
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
$41,652
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
8.35%
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%
$833,040
$833.0K
Cap Rate 7%
$595,029
$595.0K
Cap Rate 9%
$462,800
$462.8K
Market Conditions
NOI Build-Up for 4,000 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
$72.0K $18.00/SF
− Vacancy
−$7.9K −$1.98/SF
EGI
$64.1K $16.02/SF
− OpEx
−$22.4K −$5.61/SF
NOI
$41.7K $10.41/SF
Area
Houston, TX
Vacancy
11.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$833,040
Cap Rate 7%
$595,029
Cap Rate 9%
$462,800
Alternative Uses
Best Use
Retail
$774.8K
$678.0K – $904.0K
NOI $54,238 @ 7.0% cap · market cap 10.87%
Second Best
Flex RnD
$595.0K
$520.7K – $694.2K
NOI $41,652 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$1.03M
$900.0K – $1.20M
NOI $72,000 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
Market
Vacancy Rate% for Industrial in Houston, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Boardtown BBQ Catering - HTX — 1809 Lewis St, Houston, TX 77009
- EPICuisines Cooking Firm LLC — 1246 Lorraine St Unit C, Houston, TX 77009
- Uptown Catering — 3223 Houston Ave, Houston, TX 77009
- La Dee Da Catering — 3223 Houston Ave, Houston, TX 77009
- Catering Selects — 1110 Boswell St, Houston, TX 77009
Frequently Asked Questions
What type of property is this?
Flex space - Retail with attached warehouse and distribution space, including a roll-up loading door for shipping and logistics.
Where is this flex space located?
The property is located at 2521 Fulton Street Houston, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 4,000 SF retail space with attached warehouse and distribution area; Approx. 10'H x 10'W roll‑up loading door for shipping and logistics; Less than 5 miles from Downtown Houston
