Newly Built Retail
For Sale
Contact for pricing
2527 N Frazier St, Conroe, TX 77303
Recently completed retail space with two five-year leases and full occupancy in Conroe.
Property Size8,300 SF
Price / SF$421.69
Days on Market152
Property Features for 2527 N Frazier St
General Information
Standard status
Active
Size
8,300 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
HomeSmart
(713) 289-0499
Listed By:
Timothy O'Neill
(713) 289-0499
Source:
Moodyscre
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 11:00PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This 8,300-square-foot retail property at 2527 N Frazier St in Conroe features newly completed construction and is fully occupied under two five-year leases. The property is positioned along N. Frazier near FM 3083, providing a visible retail setting.
Key Highlights
- 8,300 square feet of retail space
- Newly completed construction
- Two 5‑year leases in place
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
$112,545
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
3.22%
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%
$2,250,900
$2.3M
Cap Rate 7%
$1,607,786
$1.6M
Cap Rate 9%
$1,250,500
$1.3M
Market Conditions
NOI Build-Up for 8,300 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
$170.3K $20.52/SF
− Vacancy
−$9.5K −$1.15/SF
EGI
$160.8K $19.37/SF
− OpEx
−$48.2K −$5.81/SF
NOI
$112.5K $13.56/SF
Area
Montgomery County, 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%
$2,250,900
Cap Rate 7%
$1,607,786
Cap Rate 9%
$1,250,500
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,545 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.10M
$1.83M – $2.44M
NOI $146,675 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
371k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 37%
Dining 37%
Shops & Services 21%
Electronics 2%
T.J. Maxx
Apparel
46,891 visits/mo
0.3 miles
Five Below
Shops & Services
40,958 visits/mo
0.3 miles
Cavender's Boot City
Apparel
33,618 visits/mo
0.3 miles
Ross Dress for Less
Apparel
33,190 visits/mo
0.3 miles
Gringo's Mexican Kitchen
Dining
32,397 visits/mo
0.2 miles
Demographics for 77303, TX
20,974
Population
9,516
Households
2.2
Avg Household Size
36
Median Age
14%
College-Educated
84%
High-School Grad
60.9 sq mi
ZIP Area
344
Density / Sq Mi
$72,827
Median Household Income
$42,956
Median Earnings
$1,157
Median Rent
$232,200
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?
Retail space - Recently completed retail space with two five-year leases and full occupancy in Conroe.
Where is this retail space located?
The property is located at 2527 N Frazier St Conroe, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 8,300 square feet of retail space; Newly completed construction; Two 5‑year leases in place
