Southbelt Plaza Mixed-Use
For Sale
Contact for pricing
2915 2955 2965 South Sam Houston Parkway East, Houston, TX 77047
Modern mixed-use center at a high-growth Houston intersection.
Property Size37,500 SF
Lot Size5.27 Acres
Price / SF$197.33
Days on Market149
Property Features for 2915 2955 2965 South Sam Houston Parkway East
General Information
Standard status
Active
Size
37,500 SF
Lot size
5.27 Acres
Property subtype
Mixed Use, Office, Retail
Occupancy
92%
Building Details
Year Built
2013
Buildings
3
Stories
1
Units
12
Listing Agency:
Barr Associates Real Estate
(281) 333-1700
Listed By:
Randy Barr · License #0266894
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 2:41PM
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 Barr Associates Real Estate
Investment Insights
Based on property information with market context.
Southbelt Plaza is a mixed-use center located at the intersection of State Highway 288 and South Sam Houston Parkway East (Beltway 8) in Houston, TX 77047. Constructed between 2013 and 2017, the property consists of three buildings totaling 37,500 square feet on a 5.27-acre site. The buildings feature slab-on-grade construction with steel framing, stone and stucco facades, and flat roof systems. The property has approximately 114 paved concrete parking spaces, including 8 ADA spaces. Access is provided via a main entrance from South Sam Houston Parkway East and two additional rear access drives connecting to Fellows Road. The center is currently 92% occupied across 12 tenants. Utilities include individually metered electricity, an on-site well system for water, and a septic system for sewer. On-site detention is also present. The property benefits from high visibility and direct access to major regional arteries. It is located in one of Houston’s fastest-growing residential zones, with strong consumer spending and a rising daytime population. The location is undergoing massive commercial and residential expansion and is adjacent to an Amazon Fulfillment Center.
Key Highlights
- Prime location at the intersection of State Highway 288 and Beltway 8.
- 92% leased to a diverse mix of tenants.
- Adjacent to a major Amazon Fulfillment Center generating significant daily traffic.
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
$508,486
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
6.87%
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%
$10,169,720
$10.2M
Cap Rate 7%
$7,264,086
$7.3M
Cap Rate 9%
$5,649,844
$5.6M
Market Conditions
NOI Build-Up for 37,500 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
$769.5K $20.52/SF
− Vacancy
−$43.1K −$1.15/SF
EGI
$726.4K $19.37/SF
− OpEx
−$217.9K −$5.81/SF
NOI
$508.5K $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%
$10,169,720
Cap Rate 7%
$7,264,086
Cap Rate 9%
$5,649,844
Alternative Uses
Best Use
Retail
$7.26M
$6.36M – $8.47M
NOI $508,486 @ 7.0% cap · market cap 6.87%
Second Best
Mixed Use
$7.07M
$6.19M – $8.25M
NOI $495,000 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$9.64M
$8.44M – $11.25M
NOI $675,000 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 77047, TX
32,088
Population
13,288
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
89%
High-School Grad
13.8 sq mi
ZIP Area
2,325
Density / Sq Mi
$73,947
Median Household Income
$44,732
Median Earnings
$1,719
Median Rent
$224,200
Median Home Value
Market
Vacancy Rate% for Office in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Modern mixed-use center at a high-growth Houston intersection.
Where is this mixed-use property located?
The property is located at 2915 2955 2965 South Sam Houston Parkway East Houston, TX.
What is the asking price?
The asking price for this property is $7,400,000.
What are key features of this property?
This property features: Prime location at the intersection of State Highway 288 and Beltway 8.; 92% leased to a diverse mix of tenants.; Adjacent to a major Amazon Fulfillment Center generating significant daily traffic.
