Automotive Retail
For Sale
Contact for pricing
2623 Berry Road, Houston, TX 77093
Automotive commercial property with a retail-oriented use profile.
Property Size3,321 SF
Price / SF$94.85
Days on Market61
Property Features for 2623 Berry Road
General Information
Standard status
Active
Size
3,321 SF
Class
C
Property subtype
Retail
Zoning
N.A
Occupancy
100%
Lease Type
Gross
Net Operating Income
$29,567
Additional Details
Cap Rate
9.39%
Building Details
Year Built
1951
Year Renovated
2019
Tenancy
Single
Listing Agency:
Vive Realty
(713) 637-4150
Listed By:
William Puentes · License #652123
Source:
Crexi
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 29 at 6:10PM
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 Vive Realty
Investment Insights
Based on property information with market context.
This automotive property contains 3,321 square feet and dates to 1951. Retail use is identified, providing a commercial format that combines automotive and customer-facing operations.
The property is located at 2623 Berry Road in Houston, Texas 77093. The offering reports a 9.39% CAP rate and is designated with zoning listed as N.A.
The property is located at 2623 Berry Road in Houston, Texas 77093. The offering reports a 9.39% CAP rate and is designated with zoning listed as N.A.
Key Highlights
- 3,321‑square‑foot automotive property
- Built in 1951
- Retail use identified
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
$18,725
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
5.94%
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%
$374,500
$374.5K
Cap Rate 7%
$267,500
$267.5K
Cap Rate 9%
$208,056
$208.1K
Market Conditions
NOI Build-Up for 3,321 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
$29.9K $9.00/SF
− Vacancy
−$3.1K −$0.95/SF
EGI
$26.8K $8.06/SF
− OpEx
−$8.0K −$2.42/SF
NOI
$18.7K $5.64/SF
Area
Houston, TX
Vacancy
10.50%
Lease Rate
$9.00 /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%
$374,500
Cap Rate 7%
$267,500
Cap Rate 9%
$208,056
Alternative Uses
Best Use
Retail
$643.3K
$562.9K – $750.5K
NOI $45,031 @ 7.0% cap · market cap 14.30%
Second Best
Industrial
$267.5K
$234.1K – $312.1K
NOI $18,725 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$854.0K
$747.2K – $996.3K
NOI $59,778 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77093, TX
47,736
Population
14,671
Households
3.3
Avg Household Size
31
Median Age
5%
College-Educated
51%
High-School Grad
12.0 sq mi
ZIP Area
3,978
Density / Sq Mi
$41,958
Median Household Income
$28,493
Median Earnings
$1,102
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive commercial property with a retail-oriented use profile.
Where is this auto shop located?
The property is located at 2623 Berry Road Houston, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 3,321‑square‑foot automotive property; Built in 1951; Retail use identified
