Restaurant Property Near
3101 Main St, Houston, TX 77002
For Sale
New
$5,100,000
The site sits across Main Street from Houston City College’s Central Campus.
Property Size9,504 SF
Price / SF$536.62
Days on Market4
Property Features for 3101 Main St
General Information
Standard status
Size
Property subtype
Lease Type
Site & Location
Neighborhood
Amenities
Located in Midtown Houston, a pedestrian-oriented urban district positioned directly between Downtown Houston and the Texas Medical Center.
Midtown's highly connected street grid, light rail, bus routes, bikeways and sidewalks have earned the area designation as one of the City of Houston's original Walkable Places pilot areas.
Main Street serves as a major north-south urban corridor connecting some of Houston's most significant employment, education, medical and cultural districts.
Building Details
Building Size
Listing Agency:
Marcus & Millichap - Houston
Listed By:
Justin Miller · License #License(s): TX: 551204
(713) 452-4287
Source:
Marcusmillichap
Added: Nov 6
Last Checked: Nov 8 at 2:11AM
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 Marcus & Millichap - Houston
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Investment Insights
Based on property information with market context.
This restaurant property at 3101 Main St is positioned along Houston’s METRORail Red Line, between the McGowen and Ensemble/HCC stations. The line connects the site with Downtown, Midtown, the Museum District, Hermann Park, Rice University and the Texas Medical Center.
Houston City College’s Central Campus is across Main Street. The property is also within Midtown Cultural Arts & Entertainment District, which includes more than 40 arts venues and 90 arts organizations. Farther south on Main Street, the 12-block Ion District contains the 266,000-square-foot Ion innovation hub. The stated cap rate is 6.63%.
Houston City College’s Central Campus is across Main Street. The property is also within Midtown Cultural Arts & Entertainment District, which includes more than 40 arts venues and 90 arts organizations. Farther south on Main Street, the 12-block Ion District contains the 266,000-square-foot Ion innovation hub. The stated cap rate is 6.63%.
Key Highlights
- Restaurant property at 3101 Main St, Houston, TX 77002
- Along the METRORail Red Line, between McGowen and Ensemble/HCC stations
- Across Main Street from Houston City College’s Central Campus
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,267
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,925,340
$2.9M
Cap Rate 7%
$2,089,529
$2.1M
Cap Rate 9%
$1,625,189
$1.6M
Market Conditions
NOI Build-Up for 9,504 SF
Gross rent
$205.3K $21.60/SF
− Vacancy
−$10.3K −$1.08/SF
EGI
$195.0K $20.52/SF
− OpEx
−$48.8K −$5.13/SF
NOI
$146.3K $15.39/SF
Area
Houston, TX
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,925,340
Cap Rate 7%
$2,089,529
Cap Rate 9%
$1,625,189
Alternative Uses
Best Use
Specialty Retail
$2.09M
$1.83M – $2.44M
NOI $146,267 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,072 @ 7.0% cap · market cap 3.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,527
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77002, TX
19,844
Population
8,960
Households
2.2
Avg Household Size
34
Median Age
37%
College-Educated
86%
High-School Grad
2.0 sq mi
ZIP Area
9,922
Density / Sq Mi
$85,436
Median Household Income
$54,755
Median Earnings
$1,860
Median Rent
$286,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Restaurants in Houston
Vacancy Rate% for Retail in Houston, TX
Similar Off Market Nearby
- Westheimer Catering Solutions — 4418 Fannin St Suite 101, Houston, TX 77004
- Sairam Caterers — 207 W Main St, Houston, TX 77006
- Gelato Constantino — 1311 Holman St, Houston, TX 77004
- Intel bread bakery — 520 westheimer rd, houston, tx 77006
- Signatures Catering — 1714 Webster St, Houston, TX 77003
Frequently Asked Questions
What type of property is this?
Restaurant - The site sits across Main Street from Houston City College’s Central Campus.
Where is this restaurant located?
The property is located at 3101 Main St Houston, TX.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Restaurant property at 3101 Main St, Houston, TX 77002; Along the METRORail Red Line, between McGowen and Ensemble/HCC stations; Across Main Street from Houston City College’s Central Campus
